Algorand Fees 2022

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    Question==:

    Create a visualization showing the cost of transaction fees per day accumulated since the beginning of January 2022. What wallets have conducted the most transactions and spent the most on fees? How much have users on Algorand spent on transactions in total?

    Methodology==:

    The questions of this bounty were answered by using the flipside_prod_db.algorand.transactions table, however, the flipside_prod_db.algorand.prices_swap table was also used to calculate the fee amount in USD. The questions were answered by calculating the number of transaction senders and the number of transactions and the amount of fees paid daily using the transaction table, as well as the total amount of fees paid in 2022 in terms of algo and USD.

    Charts and analyses

    In the following, we will see the graphs related to the questions and the related analyzes will follow

     

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    analysis==:

    • In the daily fee graphs, we can see that since the beginning of 2022, the accumulated daily fees have had a downward trend, which is a sign of the impact of the market situation on Algorand network transactions.It is natural that with the decrease in the number of transactions, the amount of the daily fee also decreases because the fee in the Algorand network is fixed and is 0.001 algo per transaction.
    • According to the chart of the wallets, it can be seen that the highest transaction does not necessarily have the highest paid fee, because in the Algorand network there are transactions in calling applications for which no fee is paid, and as we can see, the highest fee paid in 2022 is about 124,000 algos so far.
    • The last two graphs also show the total amount of fees paid by users in 2022 in terms of Algo and USD. As we can see, the total fee paid in the Algo network since the beginning of 2022 is about 412,000 Algo, which is about $350,000.

    conclusion:

    It seems that the Algorand network has the lowest fee among the existing networks on the blockchain, and the most important feature of this network in terms of fees is that its fees are fixed and no changes are observed with the change of the market situation and prices.Many application calling transactions are even fee-free and the user does not pay any fees for this transaction. $5000 monthly fee is the lowest fee that a network receives from its users.