Algorand Transactions by Protocol

    Algorand Transactions by Protocol

    > Q115. Using the following App ID lists from Folks Finance, AlgoFi, Tinyman, and AlgoDex, lets look at what percent of transactions their app calls and associated transactions(transactions in the same tx_group_id) make up on the Algorand blockchain. > >
    > How have the number of transactions changed over time for each Protocol? Also how much in fees have been spent on transactions relating to each protocol? Other things that can be explored are what type of transactions are each protocol producing, or has the price of ALGO been an influence on the number of transactions produced by each protocol.

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    In this article, we aim to analyze the popularity of different applications on algorand in terms of number of transactions. Moreover, the amount of fee that users of each applications have spent has been compared. The main applications on algorand is considered as follows:

    Folks Finance:

    Application IDs:

    776179559,776176449,752770929,751285119,747239433,747237154,743685742,743679535,696044550,694464549,694405065,686876641,686875498,686862190,686860954,686501760,686500844,686500029,686498781

    Tinyman

    Application IDs:

    649588853,350338509,552635992

    AlgoFi

    Application IDs:

    705663269,705657303,674527132,661247364,661207804,661204747,661199805,661193019,661192413,659678644,659677335,658337046,658336870,647785804,647785158,641500474,641499935,639747739,639747119,611869320,553866305,482625868,465814222,465814065,674526408,637795072,637793356,635866213,635864509,635863793,635860537,635813909,635812850,611867642,611804624,611801333,605753404,553869413,482608867,465818260,465814318,465814278,465814149,465814103

    Algo Dex

    Applications IDs:

    354073718,354073834

    This plot shows the percentage of transactions which belongs to each application. It is obvious that Tinyman is responsible for the most transactions of Algorand. It has about 62 percent of all transactions of Algorand.

    The amount of fee for the transactions can be an important factor for every application users. In the front demonstration, total amount of fee is sliced per every application and the percentage of the overall fee spent on Algorand for each application is reported.

    In the following line chart, changes in number of daily transaction for each Algorand application is demonstrated for a long period of time. As the previous chart said, the number of transactions in Tinyman are significant, but here we can see that before November 2021, Tinyman was not the major application and its growth after that time is not neglectible.

    As the number of transactions affects on overall fee amount, this value is biased by the number of transactions. Thus, a better metric might be total fee amount divided by the number of transactions. To have a better analysis on the amount of fee spent for each transaction, we repeat two aforementioned plots with this new metric.

    The front plot shows the average amount of fee per transactions in a comparable way for Algorand applications. It is obvious that AlgoFi imposes higher amount of fee to its users. Also, Algo Dex has the least amount of fee. Considering the higher number of transactions in Tinyman, it can be infered that on of the reasons behind Tinyman’s popularity is its low fee amount.

    Furtheremore, cumulative amount of total fee for all of the applications is reported in the following demonstration. AlgoFi has a meaningful growth in amount of total fee during last months and now it is nearly as much as Tinyman.

    In the following chart, different types of application calls are compared and groupped for each application.

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