Try Quests to earn cryptoAlgorand Fees 2022
Question : Q111. Algorand recently turned 3 years old as a blockchain!
One of the main advantages for a user of Algorand is the extremely low fees relative to other blockchains. 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?
At the moment, the Algo wallet receiving Algorand blockchain transaction fees is held by the Algorand Foundation. For the near term, the amount of Algo accumulating in this wallet is and will continue to be modest, based on the 0.001 Algo/transaction fee. Once the daily transaction level reaches a threshold, where the amount of Algo held in the wallet is material, the Foundation will engage with the community on how best these accumulating fees can be leveraged to support the ecosystem. As it currently stands, Algos in a fee sink can only be sent as participation rewards. A consensus upgrade has the possibility to change this should the community elect to do so.
In the first step, we want to get the amount of daily fees paid by Algorand users. And also calculate the cumulative fee for each day
As you can see in the chart above, the highest fee paid by Algorand users is on January 7, 2022, which is due to the high number of transactions on Algorand on this day. And the lowest fee is related to June 25, 2022
In the graph above, the amount of fees paid by Algorand users in this network is also the total fees paid by users based on daily statistics.
The above chart and graph shows the highest fee payment statistics based on users, that the user with the wallet address ZW3ISEHZUHPO7OZGMKLKIIMKVICOUDRCERI454I3DB2BH52HGLSO67W754 has paid the transaction fee in the amount of 124800.330328 templates.