Question:

Q1. Count and plot the number of daily transactions and unique addresses on Polygon, beginning July 1, 2022.

In your estimation, discuss whether Polygon is still growing, has reached a plateau, etc.

Overview of essay:

Polygon is a protocol for building an interconnected network of blockchains, which works as a second layer solution on the Ethereum blockchain, and its purpose is to solve the Ethereum scalability problem. Recently the data of Polygon blockchain came to the Flipside community in new tables.

To explore the data on these new tables, the transactions on Polygon blockchain and unique wallets that executed transactions have been studied in this essay.

Approach:

• Transactions on Polygon

  select * from polygon.core.fact_transactions

• Date

  BLOCK_TIMESTAMP>='2022-07-01'

• Used metrics

  count(distinct FROM_ADDRESS) as distinct_wallets, count(distinct TX_HASH) as txn_count, sum(TX_FEE) as Fee_generated, avg(TX_FEE) as average_fee

Results:

Key findings:

1. The count of transactions on Polygon blockchain reveals the great usage on first day, a little reduction in the next three days and spike on July 5, 2022.
2. The count of distinct wallets has the same pattern via transactions With the difference that the number of unique wallets on the network on July 11 exceeded the number of users on the first day and the 6th of July.
3. It can be concluded that as we approach the end of the research period, the number of unique users has increased.
4. The average generated fee on July 13 has reached a 0.035 MATIC, and as can be seen in the scatter plot, this number is much higher compared to the average fee paid on other days.
5. The sum of generated fee in daily basis has same pattern as average fee and on July 13 its value is higher than other investigation days.