Try Quests to earn cryptoIntroduction
As we know, Optimism is a Layer-2 scaling solution for Ethereum that supports all dapps and it runs all computations and data off-chain. So, due to this, Ethereum's transactions per second are increased and transaction fees are decreased, rather than running all computation on the Ethereum network.
Moreover, Optimism sounds very similar to Polygon Matic, as both offer similar something very similar, as it’s a scaling solution for Ethereum.
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Optimism NFTs
In general, 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.
Here we will explore the NFT transactions on Optimism chain in terms of the daily NFT sales volume, daily users who has bought/ sold NFTs, total number of NFTs sold, Top 10 NFTs by sales volume etc.. with supporting visuals.
In this article, we will analyze the performance of Optimism chain in terms of number of transactions performed, total number of users performing transactions, total transaction fees spent, Top 10 DEXs by transactions volume etc.. in the last few months. Also, we will verify the NFTs on Optimism chain in terms of the Total sales volume, total number of buyers or sellers transacting the NFTs, with supporting graphs or visuals.
Observations
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Optipunks remains as the most popular NFT Collection in terms of the collecting maximum sales volume (in USD) and Uniswap seems to be the top NFT collection with maximum number of NFT sale transactions 2.2K performed on on Optimism chain.
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Most of the Sellers around 469 have bought NFTs of bored town NFT collection on Optimism, where as a maximum number of 1520 Buyers have purchased NFTs of Mirror NFT Collection on Optimism. Among all NFT Collections, Mirror stays as the most popular in terms of highest number of NFTs sold on Optimism chain comparatively.
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How does Optimism Chain works?
According to Optimism chain, data will be bundled into digestible chunks in optimistic rollups as a means of making it easier to consume. So, A layer-2 chain like optimism is much cheaper than Ethereum, as well as other layer-2 chains such as Arbitrum etc.. Optimism chains are incorporated into Ethereum mainnet layer-2 and even though the transactions are conducted on optimism chain, but data will be published on the Ethereum mainnet for further verification.
Optimism makes use of the concept of rollups, specifically optimistic rollups on Ethereum mainnet. A rollup is simply a compilation of data from several transactions into one transaction on Ethereum mainnet i.e. layer-1. These devices are useful for coin minting, token swapping, and other uses related to non-fungible tokens (NFTs).
Also, Gas fees across blockchain transactions that needs to be paid are conveniently distributed across everyone when so many transactions are combined into a single transactions, which makes Optimism feasible to use..
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Observations
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Since 9th of July 2022, there has been a significant raise in terms of the total number of transactions and a maximum transactions count 271.72K has been recorded on 29th July 2022. A maximum transaction fees has been observed on 4th August 2022, later which there is a significant drop while approaching towards the third week of August 2022.
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Highest number of users around 63.28K has transacted on Optimism chain on 27th July 2022 and maximum transactions per second of 6.2 has been observed on 29th July 2022, later which there is a slight decline later followed by a consistent pattern.
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Also, a maximum average time between blocks has been noticed on 9th and 10th of July 2022, after which there has been a sudden downfall in average time between blocks, which clearly indicates a drastic improvement in the blockchain performance.