1. The scatter plot above shows the minimum, average and maximum TPS by hour on Avalanche since June 20th 2022.

Minimum TPS by hour on Avalanche = 1

Average TPS by hour on Avalanche = 5.64

Maximum TPS by hour on Avalanche = 144

1. The area charts above depict the minimum, average, and maximum TPS on Avalanche by hour since June 20th, 2022.
2. The majority of the hours have a minimum TPS of 1, with the exception of June 24th 3:00PM UTC, which has a minimum TPS of 13.
3. On Avalanches, the average TPS by hour hovers around 4 to 8 for the majority of the hours, with 2 spikes on June 24th 2:00AM UTC and June 24th 3:00PM UTC, with 11.596 and 13 average TPS on these 2 hours, respectively.
4. On Avalanche, the maximum TPS by hour peaked at 144 on June 22nd 12:00AM UTC and June 25th 3:00AM UTC.
5. Since June 20th, the maximum TPS by hour on Avalanche has been 144, indicating that Avalanche has recently not reached its full transactional performance potential of 4.5k TPS as claimed.

Number of Transactions per Block on Avalanche

1. The area charts above shows the minimum, average and maximum number of transactions per block on Avalanche over time, since June 20th 2022.
2. Daily minimum transaction per block is 1 for all of the days since June 20th 2022.
3. Daily average transaction per block on Avalanche ranges around 5 to 6 transactions for majority of the days. The average number of transactions per block was highest on June 24th, with 6.611 transactions per block.
4. The maximum transaction per block peaked at 144 on June 22nd and June 25th, the same as the maximum TPS by hour in the previous section.

Time between Blocks on Avalanche

Now that we know the number of transactions per block on Avalanche, how about the time lag between blocks?

1. The bar charts above show average gas used, gas price and transaction fee per transaction on Avalanche since June 20th 2022.
2. The average gas used per transaction hovers around 180k, whereas the average gas price per transaction hovers around 35 nAVAX (nAVAX is one-billionth of AVAX).
3. It is observed that average gas price surged to 156 nAVAX, which is approximately 4.5X the average gas price per transaction. This is also the hour when Avalanche's maximum TPS reached 144. This is appropriate given that gas prices rise when amount of Avalanche network activity is high.
4. By multiplying Gas Used by Gas Price gets us the Transaction Fee per transaction. The average transaction fee on Avalanche averages around 0.006 AVAX for majority of the hours.
5. The average transaction fee peaked on June 25th 3:00AM, with an average of 0.0218 AVAX transaction fee paid per transaction during that hour. This is appropriate as June 25th 3:00AM is the hour when maximum TPS by hour of Avalanche reached its peak of 144, indicating high activity on the Avalanche network.

Average Gas Price and Transaction Fee per Transaction on Avalanche by Days in a Week

Introduction to this dashboard

1. Avalanche claims to support quick block finality and high TPS; in this dashboard, we will investigate whether or not this claim is true, whether or not block and transaction performance of Avalanche has been high since June 20th, 2022.
2. In this dashboard, we will look at:

• the transaction per second (TPS) by hour
• number of transactions per block
• time between blocks
• average gas price and transaction fee

on Avalanche since June 20th 2022

1. The bar charts above show the average gas price and transaction fee on Avalanche by days in a week.
2. The gas price on Avalanche is highest on Fridays, at 45.2748 nAVAX. This is followed by Saturdays and Mondays with gas prices of 41.06 and 40.6854 nAVAX respectively.
3. Transaction fee on Avalanche is highest on Mondays, with an average of 0.007 AVAX. Friday and Saturdays are next, with 0.0068 and 0.0067 AVAX average transaction fees respectively.
4. It appears that average gas price and transaction fee are higher when the day of the week is near to the weekends, either before or after. This also suggests that the busiest days on Avalanche are Mondays and Fridays, resulting in higher gas prices and transaction fees on these 2 days.

Average Gas Price and Transaction Fee per Transaction on Avalanche on Weekdays vs Weekend

Gas Price and Transaction Fee on Avalanche

Transactions on Avalanche require the payment of a transaction fee in order to prevent spam. The fee is paid in AVAX, Avalanche's native token. The transaction fee paid and collected in AVAX is burned.

Transaction Fee = Gas Used * Gas Price

1. Average gas price and transaction fee per transaction on Avalanche, on weekdays vs weekends are shown in the bar charts above.
2. The average gas price on Avalanche is slightly higher on weekends (~39.179 nAVAX), than on weekdays (~39.0458 nAVAX).
3. On the other hand,, the average transaction fee on Avalanche is the opposite. It is slightly higher on weekdays (~0.0064 AVAX) than on weekends (~0.0063 AVAX).
4. This suggests that the Avalanche network is busier and more active on weekends, resulting in higher average gas prices.
5. Avalanche network is less busy on weekdays, but the transactions completed by users are more complicated, resulting in more gas used and a higher average transaction fee paid for each transaction.

Top 10 Protocol with Highest Average Transaction Fee

1. The scatter plot above shows the minimum, average and maximum number of transactions per block on Avalanche since June 20th 2022.

Minimum number of transactions per block on Avalanche = 1

Average number of transactions per block on Avalanche = 5.64

Maximum number of transactions per block on Avalanche = 144

3. On Avalanche, since June 20th 2022, the minimum, average, and maximum transactions per block are the same as the TPS by hour. This implies that the time lag between blocks is close to 1 second.

Introduction to Avalanche

1. Avalanche is a Layer 1 network like Ethereum, Solana and Algorand.
2. Layer 1 network is a blockchain in the decentralised ecosystem, whereas a Layer 2 protocol is a third-party integration that may be used in conjunction with a Layer 1 blockchain.
3. According to Avalanche's Doc, Avalanche can perform 4,500 transactions per second, which is an order of magnitude faster than current blockchains.

1. The minimum, average and maximum time between blocks on Avalanche over time, since June 20th 2022 are shown in the area charts above.
2. The minimum time between blocks on Avalanche has been 0 or 1 second since June 20th.

Note: The 0 second time lag between blocks could be due to the fact that the actual time between blocks is less than 1 second and in decimal points, such as 0.5 seconds, and the dataset does not register timestamps in such small increments, instead displaying it as 0 second.

3. The average time between blocks on Avalanche appears to be consistent at around 2 seconds per hour. This is appropriate given that the current target rate of block production is one block every 2 seconds, according to Avalanche Doc.
4. For the most hours, the maximum time between blocks on Avalanche ranges between 5 and 7 seconds, with a few hours spiking to 10 seconds. Avalanche's maximum time between blocks is 10 seconds.

TPS by Hour on Avalanche

TPS measures the ability of a system to complete work per second. It is a measure of the number of transactions that a network is capable of processing each second

1. Minimum, average and maximum time between blocks on Avalanche is shown in the scatter plot above.

Minimum time between blocks on Avalanche = 0 second

Average time between blocks on Avalanche = 2 seconds

Maximum time between blocks on Avalanche = 10 seconds

1. The scatter plot above shows the top 10 protocols on Avalanche with the highest transaction fee paid.
2. Curve Finance has the highest average transaction fee on Avalanche, with around 0.0539 AVAX paid per transaction. Curve Finance is a decentralised exchange (DEX) on the Avalanche network that allows users to swap between different Avalanche stablecoins and assets.
3. The average transaction fee paid is followed by Rubic Exchange and 1inch, with 0.0522 and 0.031 AVAX paid per transaction, respectively.
4. Rubic exchange is a DEX on Avalanche that supports swapping of assets between multiple blockchains in a single trade, whereas 1inch Network is a DEX aggregator like Jupiter on Solana that offers the best rates to swappers by routing them to the most efficient swapping routes across DEXes.
5. The top 3 Avalanche protocols with the highest average transaction fee per transaction are all swap-related.

Conclusion

1. TPS by hour on Avalanche

Minimum TPS by hour on Avalanche = 1

Average TPS by hour on Avalanche = 5.64

Maximum TPS by hour on Avalanche = 144

2. Transactions per block on Avalanche

Minimum number of transactions per block on Avalanche = 1

Average number of transactions per block on Avalanche = 5.64

Maximum number of transactions per block on Avalanche = 144

3. Time between blocks on Avalanche

Minimum time between blocks on Avalanche = 0 second

Average time between blocks on Avalanche = 2 seconds

Maximum time between blocks on Avalanche = 10 seconds

4. Gas Price and Transaction Fee on Avalanche

Average gas used per transaction = ~200k

Average gas price per transaction = ~40 nAVAX

Average transaction fee per transaction = ~0.006 AVAX

5. On Avalanche, the average gas price and transaction fee are highest on Monday and Friday.

6. While weekend gas prices on Avalanche are higher than weekdays, weekday transaction fees are higher than weekends.

7. Curve Finance, Rubic Exchange, and 1inch Network are the top 3 Avalanche protocols with the highest average transaction fee per transaction.