FLOW Speed (redux)

    General Stats of FLOW

    What Is Flow?

    Flow is a blockchain network designed to enable transactions that are fast and cheap. The flow blockchain is a competitor to ethereum, another blockchain platform that supports a native currency plus an ecosystem of blockchain-based projects.

    The flow blockchain was developed by Dapper Labs. Dapper Labs is also the team behind CryptoKitties, a blockchain-based game to buy, sell, create, and trade digital cats.

    The flow blockchain was launched in conjunction with Dapper Labs’ NBA Top Shot, a blockchain-based digital collectibles marketplace that specializes in basketball cards.1 According to Dapper Labs, as of May 2022, the flow blockchain has processed more than 20 million NBA Top Shot transactions worth over $1 billion.

    Flow was first built as a tool for Dapper Labs’ game developers to meet their own needs, and later launched publicly to support other decentralized applications.

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    FINDINGS

    Based on the data we obtained to examine how fast the flow is, we can say the following:

    Flow's success rate in the second half of 2022 is about 13 percent different from the first half of the year.

    When we examine the daily chart, we see this. Flow started to lose its stability at the end of the first half of 2022 and crashed on May 29. The success rate dropped to 16.8. When we go into the second half, we see that it started to be shaken more often.

    When we examine the tpm values, we can clearly see that tpm has increased in the second half of 2022, and when we look at the percentile division, tpm has increased by about 50 percent.

    When we look at transaction and user values, we see a noticeable increase in the second half of 2022.

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    Chain Comparing Chapter

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    FINDINGS

    When we look at the chain comparisons, the most turbulent one was chain flow. When we look at other chains, we see a difference of at most 5 percent. And we can see that all chains increase the success rate in the second half of 2022.

    FINDINGS

    There are only two chains that have seen an increase in tps values ​​in the second half of 2022, one of them is flow and the other is arbitrum. Other chains are in decline. In particular, BSC has regressed proportionally.

    FINDINGS

    The situation in tpm values ​​is the same, the increase rate of the flow seems better in tpm values. In the first half of 2022, 263 transactions per minute were made, while in the second half of 2022, this number tripled and reached 786.

    FINDINGS

    When we look at the number of successful transactions by looking at the periods of 2022, we can see that the arbitration and flow increase the number of successful transactions. While Arbitrum 4 times its number, FLOW has 3 times it. There was a decrease of approximately 27 million in BSC.

    Events on FLOW

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    FINDINGS

    When we take a look at the events, we see that the most used event is 'TokensDeposited'. This event, which has 214M transactions, has a slice of 23 percent. And when we look at the monthly events, we can see that this event has the highest transaction number in all months.

    What Is TPS and How Is It Related to Blockchain Speed? 

    TPS (or transactions per second) refers to the number of transactions a blockchain network can carry out in one second. It represents a blockchain’s speed, because it shows how scalable and fast the network is. TPS is also referred to as throughput rate.

    However, TPS isn’t the only parameter that determines a blockchain's speed. Transaction finality time (the time it takes to confirm a transaction as immutable) is just as important. Together, these parameters describe a blockchain network's scalability, which is the network's ability to handle an increasing number of transactions.

    Scalability is a hot topic in blockchain because insufficient scalability is a significant stumbling block on the way to broader adoption of blockchain technology.

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    Methodology

    While preparing this dashboard, I used the fact_transactions tables of the chains and as a filter, I divided 2022 into 6 months and filtered it as the first and second half.

    also to examine the effects of the top 10 events.

    I used the flow.core.fact_events table.

    CONCLUSION

    When we look at the success rate in flow, we see that it is more successful in the second half of 2022. It starts at the end of the turbulent first half and continues chronically throughout the second half.

    We see that the tpm values ​​increased in the second half, there is a performance increase of about 50 percent. There is a very high increase in the number of transactions and the number of users in the second half.

    When we examined the events, the most used event was 'TokensDeposited' with 214M transactions. And he continued to be the first in all months.

    When we look at the chain comparisons, all chains have made good progress in the success rate. In TPS and TPM values, there are only 2 chains that have increased performance in the second half of 2022. We see regression in these Arbitrum and Flow other chains.

    In the number of successful transactions, only the transaction numbers of the arbitrum and flow increased.

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