New contract usage on Flow during Hackathon

    This dashboard examines which of the new contracts that were introduced over the past month are gaining more users and receiving more transactions and expanding the FLOW ecosystem.

    Introduction

    FLOW is a blockchain platform that has gained popularity for its focus on supporting high-performance decentralized applications (dApps) and non-fungible tokens (NFTs). With its fast and efficient consensus algorithm, FLOW allows developers to create complex applications with ease, making it a prime choice for the rapidly expanding NFT market.

    The recent FLOW Hackathon has showcased the platform's ability to foster a dynamic and innovative ecosystem. During the hackathon, participants created new contracts, which are smart contracts that enable developers to build a wide range of dApps on the FLOW blockchain. These new contracts represent the cutting edge of blockchain technology and have the potential to revolutionize industries like art, gaming, and music.

    By analyzing the usage and activity of these new contracts, we can gain valuable insights into the growth and development of the FLOW ecosystem. This information is crucial for identifying the most promising contracts and determining which dApps are gaining traction among users.

    The deployment of new contracts on FLOW is essential for the platform's continued success. It enables developers to experiment with new ideas, build innovative applications, and attract new users to the ecosystem. By monitoring the activity of these contracts and identifying the most promising dApps, we can help ensure the long-term growth and success of the FLOW blockchain.

    Methodology

    The methodology for analyzing the growth and development of the FLOW ecosystem over a period of 1 month will involve collecting and analyzing data from various sources, including on-chain data and user engagement metrics.

    To achieve this goal, we will utilize data from FlowScan and other on-chain sources to gain insights into the usage and activity of various contracts on the FLOW blockchain. We will also take into consideration the deployment of new contracts over the 1-month period to identify those that have the potential to drive growth in the ecosystem.

    Our analysis will focus on several key metrics, including daily active wallets by contract, asset volumes through the contract, repeat users, and new users in the FLOW ecosystem driven by the contract. By comparing and analyzing these metrics across different contracts, we will be able to identify which contracts are experiencing the most growth and have the most potential to expand the FLOW ecosystem.

    Additionally, we will examine the quality of the contracts and their impact on the overall user experience of the FLOW platform. We will consider factors such as user feedback, community engagement, and user retention rates to evaluate the effectiveness of each contract in promoting the growth and development of the FLOW ecosystem.