Daily Trend since Year 2022

Timeframe Analysis

Change Ratio (%)

🔍 | Findings & Explanation

In this section, there are parameters to configure.

1. timeperiod ; Default : Day

2. chain ; Default : FLOW

   
   The success rate on FLOW chain is maintaining around ~80% . However, there are days where the success rate dropped significantly.

   Interestingly, there are days FLOW suffered bad success rate.

   • 26 - 31th May 2022
   • 26 OCT - 29th NOV 2022

   
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In this section, there are parameters to configure.

1. timeperiod; Default : Day
2. statistics; Default : AVG

The chart on the left showing the statistical analysis on the transaction speed of each blockchain.

On average, FLOW has highest TPU.

While the rest metric still lose to Ethereum network.

In terms of TPM, TPS, transactions and users.

Success/Fail Rate & Statistical Analysis

🔍 | Findings & Explanation

In this section, there are parameters to configure.

1. timeperiod ; Default : Month

Focus on FLOW chain, we able to observe that in all metrics the FLOW chain started to improve since March to June 2022. However, since then a huge decline in the following month. Afterwards it suffered a ZigZag formation in percentage of transaction speed.

I would say that the monthly change on FLOW is more significant than other blockchains. We can see that the other blockchain percentage change ratio is rather mild.

A huge decline in month of December is due to the incomplete of data as of the date of analysis it’s only 11th December 2022.

$FLOW transactions volume

🔍 | Findings & Explanation

As the turmoil of the macro economy, the entire crypto market is experiencing the BEARISH sentiment since early of Year 2022.

Besides, there are a series of deleveraging events happened over the time. Such as, Terra blockchain collapse, Three Arrow Capital, Celsius gone bankruptcy and recent FTX Exchange as well.

With so much bad events, happened, how we look at the $FLOW transactions volume can be closely relate to the events according to each of the timeline. May 2022, Terra collapse which is around week 12 onwards, FTX which is around early Week 40.

These events actually post a significant impact to $FLOW token price and the transactions as well.

Methodology

First of all, I have handpicked a few blockchain for comparison. They are Ethereum , Cosmos , Avalanche and FLOW itself. In order to obtain the transactions on respective blockchain, I’ve select several tables : flow.core.fact_transactions , cosmos.core.fact_transactions , ethereum.core.fact_transactions and avalanche.core.fact_transactions.

All the analysis shown are within the timeframe of Year 2022.

To perform events analysis I have taken data fromflow.core.fact events .

There is several customization allow in this dashboard in several metrics. They are :

• time period (DATE, WEEK, MONTH, YEAR)

• blockchain (FLOW, Ethereum, Avalanche, Cosmos)

• statistics (AVG, MIN, MAX, MEDIAN)

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Introduction to FLOW blockchain

Flow is a user-friendly, decentralized, and, scalable Blockchain designed to support the creation of crypto-related games, digital assets, and applications that power them. Flow ensures scalability without sharding which makes it possible to keep transactions atomic, consistent, isolated, and durable (ACID).

Developed in 2018 by dapper labs, the Flow was licensed for use in 2020 for developers interested in creating and trading NFT. It gives the power to control data to the consumers, and it also gives the liberty to create any digital asset that can be traded anywhere in the world. Flow is an open-source Blockchain with its smart contract, which can be used by billions of people to power their applications.

Working of FLOW blockchain

Flow uses the multi-approach model to operate. This model is grouped into four pillars.

• Multi-role architecture
• Resource-oriented programming
• Developer ergonomics
• Consumer onboarding

TOP Events

🔍 | Findings & Explanation

• Over the course of time (in weekly timeframe),we able to see that 2 major events are driving the transactions on FLOW chain.

• They are TokensDeposited and TokensWithdrawn.

• In time analysis chart, we able to observe that FeesDeducted is growing rapidly. This might due to a fee reduction phenomenon on FLOW chain to attract more users.

• While events such as JoyrideMultiTokenInfoEvent has gained a lot of transactions as well.

• There are TOP events that contributed to failed transactions.

• They are : TokensDeposited, TokensWithdrawn and FeesDeducted.

• The 3 events are the only events that caused failed transactions. It is fascinating to look at when JoyrideMultiTokenInfoEvent has been the 3rd TOP events that drive the transactions on FLOW while not contribute to a single failed transaction.

• This meaning that the main events which is NFT, metaverse and GameFi activity does not contribute to failed transactions on FLOW chain.

• It can prove that the FLOW chain is capable of providing a stable platform for developers to develop their WEB3 applications.

Analysis Theme

In this dashboard, I illustrate how has Flow increased its speed in transaction per minute , transaction per second, transaction per user. Besides, compare Flow and other L1 blockchains in terms of speed: identify the monthly average for transactions per minute, and how that's improved or worsened since the beginning of 2022.

1. Daily transaction speed in year 2022 (TXS, USERS, TPM, TPS, TPU)
2. Different timestamp analysis on transaction speed
3. Success/Fail Rate
4. Statistical analysis on transaction speed
5. Change Ratio
6. $FLOW transaction volume
7. Event analysis that affect $FLOW transactions \n

Summary

• FLOW is fast and capable of settle high transactions in short period of time.
• However, the performance is not stable. A huge fluctuation meaning it can be super fast sometimes but sometimes it might not.
• Success rate is comparatively stable than the transaction speed.
• $FLOW has suffered the downturn as what macro economy did.
• Only 3 main events contributed to failed transactions. They are TokensDeposited, TokensWithdrawn and FeesDeducted.

Appendix

Author : 𝐑α𝔪αʰαʳ#4167

Date of analysis : 11th December 2022

Source of data : Flipside Crypto

🔍 | Findings

• Ethereum has an overall of always highest transactions among all blockchain. However, we look at the users, Ethereum blockchain accompany with huge amount of users as well.

• While Flow chain has sign of growing transactions lately. Some days even higher than Ethereum. With much smaller user count. Almost 14 times smaller than Ethereum!

• Avalanche suffering a decrease in transactions. While Cosmos is nothing comparative with other chains.

• While looking at the TPM and TPS. Ethereum has a rather consistent performance than FLOW. Fluctuating around 800 (+-200).

• Flow is catching up Ethereum faster, however the pace is pretty inconsistent. The fluctuation is high (+-1000). In general, the TPM and TPM for FLOW is improving over time.

• Cosmos is rather low and stable while Avalanche is declining fast.

• TPU is a metric that measure how many transactions done per user. In this metric, FLOW has done pretty well.

• FLOW can perform up to 120 per user while other chain only can reach up to less than 20 per user.

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🔍 | Findings & Explanation

In this section, readers are able to customize the timeframe accordingly. The input for the timeframe can be found in the Methodology section==. ⚠️

To configure the timeframe please configure in “period” parameters.

• By default the timeframe is in monthly.
• The trend is almost similar as what I covered in daily section.

Left room for customization, feel free to view it in different timeframe.