Introduction and methods

Solana is one of the blockchain ecosystems that increase more during the past year. It has become one of the viable alternatives to Ethereum in recent months, being described as Ethereum killer. Why? Because solana claims to have the solution for Ethereum issues.

Any network with lower gas fees and faster transaction speeds will address the primary problems of Ethereum. But Solana went one step further by claiming that it could theoretically perform 710,000 transactions per second (TPS).

On Solana, transactions can be classified into successful transactions, failed transactions, vote transactions, and non-vote transactions.

The intention of this dashboard is to display Solana network performance over time. The idea is to show how has the network performed over the past month compared to the rest of the year by comparing the TPS and the success rates of transactions. As well, we will track the evolution of the number of users as well as bots. Finally, we will find what wallets and programs have paid the most in fees for failed transactions.

Results

First of all, looking at the daily Solana transactions we can see how the current numbers are better than the previous monthly numbers. However, looking at the retrospective data from the beginning of the year, the numbers are far of the highest values. It can be seen how from January to April 2022, the number of daily transactions experimented a bad trend decreasing from around 60M of transactions to around 10M. Then, since May, the number of transactions started to increase again, reacing higher numbers during the past month.

The same occurs with the TPS. In this case, the TPS decreased from 800 to 100 TPS during the first 5 months of the year, but now it is in an uptrend. During the last month the TPS increased from 400 to 600.

Another important aspect for Solana that need to increase is the daily succeeded trasnactions. In this case, the number of succeeded transactions also decreased over the first halsf of the year. However, it is now as well in an uptrend. Because of are linked metrics, the daily succeeded TPS experimented similar trends. Finally, the succeeded TPS rate has also been improved during the past month passing from around 0.6 to 0.8, which is a good sign for Solana.

In terms of users, the situation is different. In this case, the number of new users both regular and bots increased during the first half of the year. However, during the last month, the performance has been bad and the numbers went down.

In this last donut charts, it can be seen the first two referring to the top 10 users by fees paid for failed trasnactions, and the last two referring to the top 10 programs by the fees paid for failed transactions as well.

The top 10 users during the first half of the year paid between 634 and 222 SOL as fees, while during the last month, top 10 users have paid between 188 and 43 SOL. For the second one, there is a highlighted user with a dominance higher than 23%.

The top 10 programs during the first half of the year paid between 3107 and 130 SOL, while during the last month paid between 386 and 80 SOL. IN this case it can be seen how there is a lot of difference between the top 1 and top 10 programs during the first half, while the range is closer for the past month.

Conclusions and key insights

In this dashboard we have studied the performance of Solana during the last month in comparison to the rest of the year. There have been several metrics computed to be able to carry out a good analysis. The main aspect found with the analysis have been the following:

• The current numbers of transactions are better than the previous monthly numbers. However, looking at the retrospective data from the beginning of the year, the numbers are far of the highest values.
• The same occurs with the TPS. In this case, the TPS decreased from 800 to 100 TPS during the first 5 months of the year, but now it is in an uptrend. During the last month the TPS increased from 400 to 600.
• The number of succeeded transactions also decreased over the first halsf of the year. However, it is now as well in an uptrend.
• The number of new users both regular and bots increased during the first half of the year. However, during the last month, the performance has been bad and the numbers went down.
• The top 10 users during the first half of the year paid between 634 and 222 SOL as fees, while during the last month, top 10 users have paid between 188 and 43 SOL.
• The top 10 programs during the first half of the year paid between 3107 and 130 SOL, while during the last month paid between 386 and 80 SOL.