Transaction.Failure.Terra
The validation of increment in Terra transactions failure rate is analyzed since start of 2022.
In the first part as said, the overall view on whole transactions executed by Terra users is provided. The bar-type figure presents the weekly amount of succeeded and failed transactions on Terra ecosystem. As shown in this chart, the amount of failed transactions has increased from the third week of February. In the second week the amount of filed transactions is near 50k and at the third week has doubled and over 100k.
Introduction:
Q169. Make reference to this tweet: https://twitter.com/alphaDefi_/status/1504522066674003972/photo/1
Establish the failed transaction rate for Terra over a time period of your choosing. Is this analysis correct? Additionally, make a case for what is causing the failure transaction rate you assess, and provide recommendations to mitigate it.
To verify the correctness of the statement on Twitter, the whole transactions on Terra ecosystem are analyzed precisely since start of 2022.
The analyze is done based on these parts:
- Overall view of transactions executed on Terra ecosystem divided by 'Failed' and 'Succeeded'
- The weekly quantity of failure rate on whole transactions of Terra ecosystem
- The cumulative failure rate analysis
Reasons and recommendations:
In the final part and by considering the results of analyze, the main reason for the increase in the number of failed transactions in the Terra collection can depend on several factors.
The entry of new users into the collection can be considered one of the main causes of this incident. Because with the arrival of new users, the infrastructure of Terra collection will not be able to fully respond to this increasing growth rate of new users. Therefore, this will increase the number of unsuccessful transactions.
In addition, the lack of awareness of the Terra collection by new users can also be an important factor in increasing the number of unsuccessful transactions. Therefore, our proposed solutions are to improve the network infrastructure of Terra to meet the transactions of new users. In addition, providing training to new users on the use of the Terra ecosystem and related protocols can be a good solution to reduce the number of failed transactions.
To verify the previous results, the cumulative failure rate for transactions on Terra blockchain is illustrated in this figure. As shown in this figure, the slope of chart has increased from the middle of February.
In this part, the transactions failure rate on Terra blockchain is shown on weekly periods. Also, the weekly amount of newcomers on Terra ecosystem since start of 2022 is provided in bar chart.
By comparing these two charts and taking into account the results shown in them, exactly from the third week of February, when the number of new users of the ecosystem has increased and this cause the increment in the transaction failure.