FLOW Speed (redux)

    Introcduction

    ==Flow== is a blockchain platform that originally was designed for gaming purposes, but has expanded since its launch in 2020. The flow blockchain enables fast, low-cost transactions and supports smart contracts. It powers blockchain applications including NBA Top Shot, a non-fungible token (NFT) offering.

    ==TPM== (or transactions per minute) refers to the number of transactions a blockchain network can carry out in one minute.

    Question

    How has Flow increased its speed in transaction per minute since? Compare Flow and other L1 blockchains in terms of speed: identify the monthly average for transactions per minute, and how that's improved or worsened since the beginning of 2022.

    • What types of events have raised or decreased the blockchain's performance over that time period?
    • Are there bursts of transaction volume or interest on the chain? Compare Flow's speed to at least two other blockchains.
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    Method

    In this dashboard, we want to compare transaction speed of Flow chain with Algorand and Ethereum chains in 2022.

    For this purpose, we have used transaction table of each chain, which I will mention below

    Then, after comparing transactions of the chains (TPM and TPS), we want to answer the question of what action or event caused speed and number of transactions on Flow to increase in last 6 months. For this issue, we have taken help from flow.core.fact_events table

    Tables: flow.core.fact_transactions ethereum.core.fact_transactions algorand.core.fact_transaction flow.core.fact_events

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    Overall Stats of Flow

    Blockchain Comparison

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    Insights

    First, we take a general look at Flow Blockchain statistics from beginning of 2022

    total number of transactions made so far in 2022 is 244M transactions made by 7.92M unique users.

    also average number of transactions per user was 30.8 transactions

    average number of transactions per second on the Flow chain is 8 transactions per second

    and average number of transactions per minute is 489 transactions

    maximum number of transactions registered on Flow was 1.6K transactions

    Insights

    But if we want to calculate average TPM of chains in whole year 2022, Flow chain is lower than others.

    Because in first 6 months of the year, the number of its transactions was less than the other two chains

    On average, Ethereum's TPM is 73, Elgorand's is 78, and Flow's TPM is 48

    Also, on average in 2022, Ethereum's TPS is 73, Elgorand is 78, and Flow's TPS is 48.

    In the charts below, you can see TPM and TPS of Flow chain in comparison to Algorand and Ethereum

    As shown in the charts, since July, Flow chain is competing side by side with other chains

    And its level is same as Ethereum and Algorand

    Flow Events and Their Effect

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    Insights

    In this section, you can see top 10 events or actions with most number of transactions in 2022, which are displayed weekly and overall.

    most action or event that done on Flow chain in 2022 was TokensWithdrawn event with 214.3K transactions.

    TokensDeposited event has almost same number of 214.3K transactions as TokensWithdrawn event, and these two together constitute largest number of flow transactions.

    ratio of each of these two events to total transactions is 24.1% and together they constitute about 50% of total Flow transactions.

    Conclusion

    By comparing transaction speed of Flow chain with Ethereum and Algorand, we realized that Flow does not lack anything from these 2 chains.

    and in the last 6 months, it has been able to increase speed of transactions performed in one minute, or the same standard of TPM and TPS, to level of Ethereum and Algorand chains.

    On the contrary, Flow chain, which has been increasing its speed and number of transactions in last 6 months, number of Algorand and Ethereum transactions has been slightly decreasing.

    What caused the TPM flow to increase day by day is the FeesDeducted event

    Because TokensWithdrawn and TokensDeposited events have always had highest number of transactions and have grown more in second 6 months, but the appearance of FeesDeducted event in second 6 months has increased number of flow transactions much more than before.

    You can see my findings from this dashboard in the rest of this text

    total number of transactions made so far in 2022 is 244M transactions made by 7.92M unique users.

    also average number of transactions per user was 30.8 transactions

    average number of transactions per second on the Flow chain is 8 transactions per second

    and average number of transactions per minute is 489 transactions

    maximum number of transactions registered on Flow was 1.6K transactions

    since beginning of May, speed of transactions per minute is increasing every day and on November 25, it will reach its peak of 26 transactions per second

    As it is known, speed of Flow chain has been increasing since May until now

    This is true for TPM or number of transactions per minute, and since May TPM of Flow Chain has been increasing day by day.

    The TPM and TPS of the Algorand chain started to decrease at exact same time, that is, from beginning of May; but Ethereum has always been relatively stable.

    After November 25, we see a significant drop in TPS and TPM in Flow and Algorand chains

    An important point that can be mentioned in TPM Flow is that TPM Flow has more ups and downs compared to other chains

    You can see the reason for this in number of daily transactions, that whenever number of flow transactions increased, flow TPM also increased and vice versa.

    Therefore, reason for TPM fluctuation of FLOW chain is directly related to increase or decrease in number of user transactions

    But if we want to calculate average TPM of chains in whole year 2022, Flow chain is lower than others.

    Because in first 6 months of the year, the number of its transactions was less than the other two chains

    On average, Ethereum's TPM is 73, Elgorand's is 78, and Flow's TPM is 48

    Also, on average in 2022, Ethereum's TPS is 73, Elgorand is 78, and Flow's TPS is 48.

    since July, Flow chain is competing side by side with other chains

    And its level is same as Ethereum and Algorand

    most action or event that done on Flow chain in 2022 was TokensWithdrawn event with 214.3K transactions.

    TokensDeposited event has almost same number of 214.3K transactions as TokensWithdrawn event, and these two together constitute largest number of flow transactions.

    ratio of each of these two events to total transactions is 24.1% and together they constitute about 50% of total Flow transactions.

    number of transactions has increased in second 6 months of 2022, but volume of transactions has increased in first 6 months of 2022.

    Here too, it is clear that total number of transactions has started to increase after May

    As can be concluded from the charts, thing that has increased more than other transactions in last 6 months is the FeesDeducted event.

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    Insights

    In the charts above, I have displayed various metrics with different charts, and in all of them, I have compared Flow Blockchain with Algorand and Ethereum chains on a daily and general basis.

    As it is clear in daily TPS chart, since beginning of May, speed of transactions per minute is increasing every day and on November 25, it will reach its peak of 26 transactions per second

    As it is known, speed of Flow chain has been increasing since May until now

    This is true for TPM or number of transactions per minute, and since May TPM of Flow Chain has been increasing day by day.

    The TPM and TPS of the Algorand chain started to decrease at exact same time, that is, from beginning of May; but Ethereum has always been relatively stable.

    After November 25, we see a significant drop in TPS and TPM in Flow and Algorand chains

    An important point that can be mentioned in TPM Flow is that TPM Flow has more ups and downs compared to other chains

    You can see the reason for this in number of daily transactions, that whenever number of flow transactions increased, flow TPM also increased and vice versa.

    Therefore, reason for TPM fluctuation of FLOW chain is directly related to increase or decrease in number of user transactions

    Insights

    As you can see in number of weekly transactions and daily volume of transactions chart, number of transactions has increased in second 6 months of 2022, but volume of transactions has increased in first 6 months of 2022.

    Here too, it is clear that total number of transactions has started to increase after May

    As can be concluded from the charts, thing that has increased more than other transactions in last 6 months is the FeesDeducted event.