Introduction

User adoption is an important metric to assess the success of projects. It is different than user engagement and user churn but can be an indication of them.

User adoption, technically speaking, is defined as the number of new users divided by total users. Assuming the constant total users, user adoption is associated with the number of new users.

This dashboard investigates how the daily number of new users on Algorand has been changed over time and how it is similar or different from other main chains: Ethereum, Solana, and Terra.

Definition, method and date

New user is defined as users who execute their first transactions.

Daily new user is defined as the number of users who executed their first transaction in the day.

Flipside on-chain data (schemas ethereum, solana, terra and algorand) has been used. Transactions have been extracted from ethereum_core.fact_transactions, solana.fact_transactions, terra.transactions, and algorand.transactions.

Analysis

The graph below shows the new user growth on Algorand.

As can be seen new users surged in August 2022. In the official launch of chains we can always see a spike.

The daily new users has been declined in 2021. However, in some days or short period of time in 2021 as well as 2022, the network experienced some spikes as a result of launching big projects. For instance, in January 2022, the launch of the Columbian vaccine pass on Algorand led to an increase in the daily new user.

The graph below shows the daily new users on Terra.

We can see a steady growing trend since mid-2021.

The graph below shows the Solana daily new users over time.

The data shows a growing trend. However, based on the data that is available to us this graph is not valid as we do not have transactions before December 2021.

The graph below shows the daily number of new users on Ethereum. We can see a downward trend since November 2021.

Conclusion and Comparison

The graph below compares Algorand with Terra and Ethereum. As can be seen while ethereum daily new users is declining, Terra and Algorand is growing. Algorand daily new users are higher than Terra, lower than Ethereum.

Algorand has some spikes that cannot be found in other chains.

Note: comparison with Solana is not meaningful