Question:

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

Approach:

One of the most important characteristics related to the success of blockchain is the consistency of usage by users. For this purpose, the user retention of FLOW blockchain has been estimated and compared with other L1 blockchains like Solana and Ethereum.

Some users used the blockchain for only one time and some other used more than one time and have consistent application.

• Identify the users with only 1 transaction or more than one

    Counting transactions for unique users of each blockchain
  

• The time difference between first and second transaction

    Order transactions made by each unique users based on the date of occurrence
    ROW_NUMBER() OVER (partition by proposer order by BLOCK_TIMESTAMP) as t_n
    t_n=1 stands for the first transaction
    t_n=2 stands for the second one
    DATEDIFF(day,first_transaction, second_transaction) as day difference between transactions
  

• Group the users by time difference of first two transactions

    difference <1 then 'under 1 day'
    difference >=1 and difference <7 then 'Under 1 week'
    difference >=7 and difference <30 then 'Between 1 week to 1 month'
    difference >=30 then 'Over 1 month'
  

Results:

Key findings 1

• The 84.6% of FLOW users have done more than 1 transaction.
• The 56.1% of Ethereum users have executed more than 1 transaction.
• The 69.3% of users of Solana blockchain have done more than 1 transaction.
• After executing transaction on FLOW most of the users return to made another one and it demonstrate the popularity and adaptability of FLOW blockchain over other L1s.

Key findings 2

• In all of the three blockchains, most of the users return to execute another transactions in the first 24 hour of the first transaction.
• It demonstrate that, the start of activity on blockchains dominated by more than 1 transactions and specially in the same day of first transaction.
• The second group of large users of FLOW and Solana have came back under 1 week to made another transaction but for Ethereum, near 20 million unique users have came back over 1 month from their first transaction.
• The dominance of FLOW blockchain in absorbing users and making them to execute transactions on the same day could not be ignored.