Flow vs Other L1s
Q13. How does Flow compare to other L1s in terms of user retention? Is a user who made a transaction previously likely to make another transaction a week or a month later? Compare and contrast this type of activity vs other L1s like Solana and Ethereum
A layer 1 (L1) network refers to a DLT (including blockchains) that serves as the base layer to store information that can represent: - assets such as tokens; - smart contracts which can form dApps; as well as. - any kind of information that requires the immutability of a DLT.
It’s called a layer 1 because it’s the base layer that other things can be built on top of, such as smart contracts and dApps, and it does not depend on any lower-level DLT/blockchain network.
Some prominent examples of layer 1 networks include:
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Radix
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Bitcoin
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Ethereum
Flow (FLOW) is a high-performance blockchain specifically for creating NFTs, massive crypto games, and apps. Unlike general-purpose blockchains such as Ethereum, Flow is built to efficiently scale for potentially billions of people interacting with NFTs like in-game items.
The chart below shows the total retention vs unretention users on Flow.
According to the result:
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There were nearly 220K unretention unique users on Flow.
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There were only about 2000 retention unique users on Flow.
The chart below shows the total retention vs unretention users on Ethereum.
According to the result:
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There were nearly 220K unretention unique users on Ethereum.
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There were only about 2000 retention unique users on Ethereum.
The chart below shows the total retention vs unretention users on Solana.
According to the result:
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There were about 28.6M unretention unique users on Solana.
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There were only nearly 2M retention unique users on Solana.
Sources
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