Question:

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.

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Overview of essay:

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.

Flow:

• Transactions:

proposer as users,

count(distinct tx_id) as no_transaction

from flow.core.fact_transactions where TX_SUCCEEDED='TRUE'

Ethereum:

• Transactions

  FROM_ADDRESS as users,

  count(distinct TX_HASH) as no_transaction

  from ethereum.core.fact_transactions where STATUS='SUCCESS'

Solana:

• Transactions

Signers as users,

count(distinct tx_id) as no_transaction

from solana.core.fact_transactions where SUCCEEDED='TRUE'

Key findings 1:

• The 88.9% of FLOW users have done more than 1 transaction.
• The 52.6% of Ethereum users have executed more than 1 transaction.
• The 71.4% 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, about 20 million unique users have came back over 1 month from their first transaction.
• About 99% of Flow users made their next transaction in the same week (normally contains same day).
• The dominance of FLOW blockchain in absorbing users and making them to execute transactions on the same day could not be ignored.

Retention approach:

• One time or consistent use

  when no_transaction=1 then 'One time users'

when no_transaction>1 then 'More than 1 transaction'

• Retention calculation:

  DATEDIFF(day,first_transaction, second_transaction) as day difference between transactions

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