[Flow] - When Do Transactions Fail?

    Bounty Question: Do times of high transaction volume lead to more transaction failures? Create a visualization that shows the relationship between transaction volume and success rate of transactions since May 9th. Are there any noticeable patterns to when transactions are more likely to fail? Were there specific events that seem to cause transaction failures?

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    Introduction


    NFTs are unique digital currencies used to exchange and prove ownership of a digital asset in a blockchain. NFTs, which are used to display items such as movies, photos, artwork and other digital files, have become very popular in recent days. NFT transactions reached $ 2.5 billion in the first half of 2021. One of the NFT projects, the CryptoKitties project, became so popular that it affected the Atrium network. As a result, CryptoKitties developer Dapper Labs has created a new blockchain called Flow Blockchain to address the problems with Ethereum Blockchain, which aims to make Flow Blockchain the best platform for NFT tokens.

    Methodology


    • The total number of transactions, the number of successful transactions and the number of failure transactions were calculated and compared from three aspects:
      1. In minutes
      2. On hourly basis
      3. On daily basis

    Results

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    Part I: In Minutes

    • If we look at the minutes of a day, the trend for the total number of transactions is very similar to the trend of successful transactions. Of course, this was not unexpected. What makes the difference here are transaction failures.

    • The point is that the trend of failure transactions does not follow the trend of the other two. Most failure transactions are from 6 am to 6 pm, where the number of transactions is generally less than other minutes of the day.

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    • If we divide the hours of the day into 4 hour intervals:

      1. 00:00 to 06:00
      2. 06:00 to 12:00
      3. 12:00 to 18:00
      4. 18:00 to 00:00
    • In the first, second and third periods: Almost all three (total transactions, successful transactions and failure transactions) have almost the same trend.

    • In the fourth period: the trends of all transactions and successful transactions are the same and descending, but failure transactions have an upward trend.

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    Based on the daily review, you can see some interesting points:

    • The similarity of the total transaction trends and the correct transactions from May 9 to May 25 is very high, but at the end of May, certain things seem to have happened. The explosive increase in failure transactions in the last days of May and the sharp decrease in successful transactions during this period are very noticeable.

    • If we look at this issue with a few numbers, we can better understand the depth of this trend change. As of May 30, 770k failed transactions were registered, while on May 24 this number was around 36k. That means increasing at least 21 times the number of failure transactions in just 6 days!

    • On the other hand, the number of successful transactions has experienced a dramatic decline. On May 30, 125k successful transactions were performed, while on May 24, the number of successful transactions was 608k. A reduction of about 500k in successful daily transactions. wow!