What is Ethereum?

Ethereum is a technology for building apps and organizations, holding assets, transacting and communicating without being controlled by a central authority. There is no need to hand over all your personal details to use Ethereum - you keep control of your own data and what is being shared. Ethereum has its own cryptocurrency, Ether, which is used to pay for certain activities on the Ethereum network.

:writing_hand: Observations

• The largest number of transactions belongs to Polygan with about 800M transactions since the beginning of 2022.
• Optimism with about 26M transactions is lower than other chains.
• The largest number of users belongs to Ethereum with about 35M from the beginning of 2022.
• Optimism with about 757k users is lower than other chains(Polygan, Ethereum and Arbitrum).
• The highest transaction fee belongs to Ethereum with 3.9B dollars since the beginning of 2022.
• Optimism's total fee is 12.5M dollars, more than Arbitrum and less than Ethereum and Polygon.
• The highest average fee belongs to Ethereum with 12.2 dollars.
• The average fee for Optimism is about 0.4 dollars.

:writing_hand: Observations

• Since the beginning of September, the number of Polygon network users has been increasing compared to other networks.
• In the last month, the number of Polygon network users has increased more than Ethereum.
• The number of daily transactions is almost constant in each network.
• The number of daily transactions in each network is almost fixed.
• May 1 was the highest average fee for Ethereum with about 200 dollars, after that the average fee in all networks is decreasing.

:writing_hand: Observations

• The largest number of NFT transactions belongs to Polygan with about 32.6M transactions since the beginning of 2022.
• Optimism with about 318k NFT transactions is lower than other chains.
• The most number of buyers belongs to Polygan with 3.4M from the beginning of 2022.
• The most number of sellers belongs to Ethereum with 1.9M from the beginning of 2022.
• In Polygon and Ethereum, the number of NFT buyers is more than the number of NFT sellers.
• In Optimism and Arbitrum, the number of NFT buyers is less than the number of NFT sellers.
• The highest NFT transaction fee belongs to Ethereum with 2.7B dollars since the beginning of 2022.
• Optimism's total NFT fee is 191k dollars which is less than other networks.
• The highest average fee belongs to Ethereum with 73.6 dollars.
• The average fee for Optimism is about 0.4 dollars.

Swaps

:writing_hand: Observations

• On July 4, the highest number of transactions belongs to Polygan with 334k transactions,On this day, Polygon's NFT transactions were 3 times that of Ethereum.
• June 3 was the highest number of buyers for Polygan with about 811k buyers.
• Since September 20, the number of NFT buyers and sellers has increased in Optimism.
• The daily average of NFT fee has decreased since June 1 in all networks.

✍️ Observations

• The largest number of swap transactions belongs to Polygan with about 50M transactions since the beginning of 2022.
• The number of swap transactions in Optimism is about 11M transactions, which is more than Arbiterum and lower than Polygon and Ethereum.
• The highest number of swappers belongs to Polygon with 2.6M swapper.
• The highest swap transaction fee belongs to Ethereum with 1B dollars since the beginning of 2022.
• Optimism's total swap fee is 8.7M dollars which is more than Polygon and Arbitrum.
• The highest average fee belongs to Ethereum with 30 dollars.
• The average fee for Optimism is about 0.3 dollars.

:writing_hand: Observations

• On May 11, the highest number of swaps in 2022 belongs to Polygan with 22 swaps on that day.
• Since the beginning of June, the number of swaps in Ethereum has been increasing, although not significantly.
• The number of swappers is almost fixed in per network, but it is slightly increasing in Arbitrum and Ethereum.

Dapps

:writing_hand: Observations

• The most interaction of users in Optimism in the Hop Protocol project has been about 55% and about 10M transactions.
• On May 30, the most transactions were in Optimism, and the optimism project had the largest share in DAPs on this day.

Introduction

What is Optimism?

Optimism is a fast, stable, and scalable L2 blockchain built by Ethereum developers, for Ethereum developers. Built as a minimal extension to existing Ethereum software, Optimism's EVM-equivalent architecture scales your Ethereum apps without surprises.

What is layer 2 chain?

A layer 2 refers to any off-chain network, system, or technology built on top of a blockchain (commonly known as a layer-1 network) that helps extend the capabilities of the underlying base layer network. Layer-2 networks can support any blockchain to introduce enhancements such as higher transaction throughputs.

What is Arbitrum?

Arbitrum is a layer-2 solution project designed to enhance Ethereum smart contracts in terms of speed scalability while adding additional privacy features to boot.

The platform is designed to make it easy for developers to execute unmodified Ethereum Virtual Machine (EVM) contracts and Ethereum transactions at layer-2 while still benefiting from Ethereum’s excellent layer-1 security. 

Arbitrum itself was created to address some of the shortcomings of current Ethereum-based smart contracts. As for the drawbacks, such as long transactions and high execution costs.

What is Polygon?

Polygon, formerly known as the Matic Network, is a scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks. \n   \n At the center of Polygon’s vision is Ethereum, a platform that is home to a range of decentralized applications, ones where you can join virtual worlds, play games, buy art, and participate in a range of financial services. However, this much activity on its blockchain has rendered Ethereum almost unusable, as the cost of transmission is rising and traffic is becoming clogged.

Method

In this analysis, I compared Optimism with the Layer 2 folds (Ethereum, Arbiterum, and Polygon) in metrics:

• Transactions
  • Total number of transactions
  • Total number of users
  • Total Fees
  • Average Fees
  • Total daily number of transactions
  • Total daily number of users
  • Average daily Fees
• NFTs
  • Total number of NFT transactions
  • Total number of buyers/sellers
  • Total Fees
  • Average Fees
  • Total daily number of NFT transactions
  • Total daily number of buyers/sellers
  • Average daily Fees
• Swaps
  • Total number of swap transactions
  • Total number of swapper
  • Total Fees
  • Average Fees
  • Total daily number of swap transactions
  • Total daily number of swapper
  • Average daily Fees

At the end, I compared the top 10 projects on Optimism with which users interact more.

I have used the data of each Chain from the tables related to the same chain. The tables used fact_event_logs and fact_transactions in per chain.

The data analysis is from 2022-01-01

Transactions

NFTs

Conclusion

• The highest number of transactions, swaps and NFT belongs to the Polygon network.
• The highest fees in transactions, swaps and NFTs belong to Ethereum network.
• The highest number of swappers, buyers of NFT belongs to Polygan network.
• The highest number of users for transactions, as well as the largest number of NFT sellers, belong to the Ethereum network.
• Optimism has the lowest number of users in transactions.
• Optimism's total fee is more than Arbitrum and less than Ethereum and Polygon.
• Optimism has the lowest number of users in transactions and NFT transactions.
• . The number of swaps in Optimism is more than Arbitrum and less than Ethereum and Polygon
• he most interaction of users in Optimism in the Hop Protocol project has been about 55% and about 10M transactions.

THANK YOU FOR READING!

Twitter: mohsen.dastpeyman

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