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Algorand

"Algorand (ALGO) is both a digital currency and blockchain platform. The Algorand platform is designed to process many transactions quickly, similar to a major payments processor like Mastercard or Visa.". With this advantage, it is interesting to see the trend of the user activity in this chain to analyze the growth of the Algorand.

Objective

• Retrieves the basic information such as:
• tx calls per block
• tx per day
• total wallets
• two different periods

Analysis

Second, the average transaction per day is the second information to measure the active user interacted with the chain. The result from the first two single digits figures shows that the number of transactions per day in the first half of 2022 were increased by 3 times compared to the second half of 2021.

Third, the transaction per block gives further information on the amount of the transactions as one block contains multiple transactions. More transactions per block mean more activities from the users who interacted with the Algorand Application. According to the result, the average transaction per block was increased by almost 2 times since the second half of the last year.

First, the number of the total wallets is the first measurement to see the user growth in the chain. From the result, the total wallets that use the Algorand application at least 1 time were growth by almost 4 times meaning that the Algorand is actually gaining the interest from the newcomers within these six months.

Last, the daily line plot shows the trend of the wallets and transactions that triggers the application call. The graph somehow follows the same trend as the results above. However, it seems that the active users and the transactions are only spiked because of the big events like the downtrend since the new year in January 2022, the initiative of Russian invasion in February 2022, and the LUNA crash in May 2022. These incidents ramped the users up to immediately manage their assets toward the events.

Summary

• Total wallets were increased by 4 times (2m to 7.4m) since the second half of 2021.
• Average transactions per day were increased by 3 times (70k to 207k).
• Average transactions per block were increased by 2 times (6 to 11 per block).
• The daily number of wallets and transactions is following the same trend as the first half of this year has a more significant number compared to the second half of the last year.
• However, these numbers come from the spike where the big events in the world such as the downfall trend since the new year, the initiative of Russian invasion, and the LUNA crash causing many users to manage their funds respected to these events.

Methodology

1. Obtained the total wallet by counting distinct senders in application_call_transactions
2. Obtained the total transactions per day by calculating the count of the distinct tx_id and the number of days.
3. Obtained the total transactions per block by calculating the count of the distinct tx_id and the number of blocks.
4. Repeat steps 1 to 3 to find the number in two different periods (the second half of 2021 and the first half of 2022).
5. Plot a daily graph of total wallet and transactions to see the trend of the Algorand users invoking the application call.