Introduction

Avalanche is one among the popular layer-1 blockchain platforms which addresses or resolves the trilemma of blockchain scalability, security, and decentralization through its Proof of Stake (PoS) mechanism. In a similar way to Ethereum, it enables the development of decentralized applications and services on its network through smart contracts.

The below 3 key components of Avalanche network helps in providing the solution and addressing the trilemma scalability & interoperability concerns.

• Exchange chain (X-chain)

• Contract chain (C-chain)

• Platform chain (P-chain)

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References

To summarize, this article helps us understand what is avalanche network and how different is it compared to other blockchains, features of Avalanche network, followed by deep insights or findings in detail regarding the blockchain performance in terms of standard metrics, NFT details such as

• Daily and Cumulative Transactions count on Avalanche chain
• Daily Users and Cumulative wallets who performed Avalanche transactions
• Daily Success % and average success rate of Avalanche transactions
• Daily Transaction fess and cumulative fees for Avalanche transactions
• List of NFT collections available on Avalanche chain by Transactions count
• Average Transactions per Second (TPS) and Transactions Count over time
• Average Time between Blocks over time on Avalanche chain
• Total number of NFTs sold across each Collection on Avalanche platform
• Total number of Users who bought NFTs on Avalanche platform
• Top 10 NFT collections based on number of NFTs sold

NFT Collections on Avalanche

NFTs stands for Non-fungible tokens, where in Non-fungible can be defined as something that cannot be exchanged for another item because its unique. For example, one piece of Art is not equal to another as both will have unique properties.

Basically, NFTs are tokens that lives or survives on a blockchain and represent ownership of unique items. These NFT tokens in general will contain bit of information specific to it, such as unique token name, symbol etc.. and will be owned by the creator or artist of that token. These NFT tokens will be sold by performing sell & buy transactions on the particular blockchain.

Now, we will see the daily NFT sales volume, daily users who has bought/ sold NFTs, total number of NFTs sold etc..

Observations:

• chikn is the most popular NFT collection in terms of maximum number of of NFTs sold so far and it grabs the second place in terms of the total number of users who bought those NFTs so far on Avalanche platform.

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• Where as, lost worlds is the top NFT collection in terms of the total number of users or wallets who have purchased NFTs on Avalanche platform, followed by bold point and heroes of nft collections.

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• A maximum count of 403.36K NFT transactions has been recorded for the NFT collection chikn, followed by lost worlds & bold point.

Observations

• Since 27th of May 2022, there has been a significant raise in terms of the total number of transactions and a maximum transactions count 484.16K has been recorded on 12th June 2022.
• Highest number of users around 43K has transacted on Avalanche chain on 30th May 2022 and maximum transactions per second of 5.6 has been observed on 13th June 2022, later which there is a slight decline followed by a consistent pattern.
• Also, a maximum average time between blocks has been noticed on 27th May 2022, after which there has been a sudden downfall in average time between blocks, which clearly indicates a drastic improvement in the blockchain performance.