Try Quests to earn SOLDaily Transactions and Unique Addresses
Q1. Count and plot the number of daily transactions and unique addresses on Polygon, beginning July 1, 2022.
Introduction
In this dashboard, I will look into the daily number of transactions and the daily number of unique wallets on Polygon, since July the 1st. In the second part of this dashboard, I will compare these values against other blockchains, in order to see how Polygon is doing against other popular chains. In the last section of this dashboard, I will also look into the total and average fees paid by users on Polygon.
Note: The last day always results in incomplete data, as the day is not finished - therefore, I have removed the last day from all of the charts shown below.
Firstly, we can see that the number of unique wallets seems to have reached a plateau, as the line shown on the left seems to have stabilised. However, the number of unique wallets is still within the large range, with over 200k daily users on most days since July the 1st.
When it comes to the number of transactions, we can see that the number varies between 2.16M and 2.83M since the beginning of July, which is a great result! In summary, we can see that even though it seems as if Polygon has hit a small plateau, the daily numbers are still quite big so this is good news for Polygon.
Furthermore, we can see that there is some correlation between the number of daily transactions and the number of unique wallets. The scatter graph tells us that the more transactions there are, the more unique users there are on most days. In other words, this is the standard correlation that we would expect to see, meaning that every user is making a few transactions, rather than one user making a thousand of transactions in one day etc.
When it comes to the number of daily transactions, Polygon is the winner, with more transactions executed than Ethereum or Algorand (with the given data, which might still be in the process of backfilling for Binance or Avalanche tables). For unique wallets, we can see that Ethereum has more daily unique wallets than Polygon. What does it mean for us? It implies that if there are more transactions on Polygon, but more users on Ethereum, than on average, each user on Polygon is making a lot more transactions than an Ethereum user!
The next step is to look at the fees paid by users on Polygon.
We can see that the fees paid on Polygon are not that high, with the maximum amount of fees paid on one day since the beginning of July being $36k. Given the huge number of transactions executed, this is very little! By looking at the second chart, we can see that users pay very little per transaction, with the range being $0.01 - $0.013 - how cheap!
Conclusion
This dashboard has answered the main bounty’s question - it investigated the number of daily transactions and unique addresses on Polygon since the beginning of July 2022. As a bonus, I have also compared these numbers against other blockchains, such as Ethereum, Avalanche, Optimism etc, and have also looked into the total and average fees paid by users on Polygon.