Daily Transactions and Unique Addresses

On polygon

What is the deal with Polygon

As an Ethereum layer 2 solution, Polygon offers scalability on Ethereum’s network with cheaper fees and faster transactions.

Task

Count and plot the number of daily transactions and unique addresses on Polygon, beginning July 1, 2022.
In your estimation, discuss whether Polygon is still growing, has reached a plateau, etc.

\n Method

To find new users and transaction related queries Flipside’s Data tables will be used.

flipside_prod_db.polygon.transactions to find new addresses using all the data records
polygon.core.fact_transactions as an example of why we should prefer full records to search for arriving users, this table is being migrated in flipside, so it records are limited.
- Also will be used to work with transactions occurring in July (A date that is already working in this new table)

I’m gonna start earlier than July

much earlier.

The reason being that for counting new users arrivals, one of the best methods is to retrieve the entire record to keep track of the first interaction per user.

So, using tables the data just coming from July could give us the wrong impression.

AcTuallY if u look closer to both tables on the right its possible to see that the New table, the purple one, holds different records.

And not, its not an error in the records, its just the limitation in its records being newer.

Given that it registers the first time a user made a transaction, the newer one only counts the first transactions present on its own data.

Thats why the old table gives us a different view of new users activity during July, 2022.

Are there or not new users?

Yes

The reason why on the new tables the amount of new users is different comes to the new tables getting much of the users as a first timers.

Instead, the first one measures the entire record and its just a view of those new present during July. So for the movement present in the new tables, Polygon might be plateauing™, but for the trained eye, the one that keeps the whole track, there actually was a huge influx of users making their first transaction on July 6.

> # The best thing in these charts is when users said: It’s arriving time, and proceeded to arrive at everything.

                                            (Unknown reader witnessing arriving times)

Now lets look at that earlier beginning that I was talking before

Here we can see the entire record for the first transaction each user has made over time in Polygon. While it might not be exactly pin point precise on the arriving time, its somewhat effective at detecting their effective arrival.

With this wider look on new users influx its clear that polygon growth has not been halting.

Excepting two specific time windows in early June & July, there has been a constant volume of users. Even peaking on Jun 27 with 179k users realizing their first transaction.

And after the bottom that came 3 days after, new users kept arriving at previous levels from the peak.

So yes, users are still in arriving mode

And are they in active mode?

Well it appears so, the addresses active are constant, during July there has not been any major movements in unique addresses transacting daily.

And the same goes to the daily transactions being made, with a low rate of failure, transactions volume remain high at a minimum of 2 million transactions per day.

Adding for a total of 1.07 billion transactions since the first of July

So for the looks of it, when it comes to Polygon, its steady growing time