Introduction

This dashboard aims to analyze the average cost of transacting on the Polygon and Harmony blockchain. We'll also look at the hourly number of transactions for both blockchains.

Methodology

1. Find average transactions fee for Polygon: For this data, the table polygon.transactions was used. This table contains a column called fee_usd which directly lists the fee in USD for each transaction. We take the average of fee_usd and group by hour.
2. Find average transaction fee for Harmony: This is more difficult to compute as the fee per transaction is not directly listed like with Polygon. The fee was computed using the formula gas_price * gas_used = fee. The gas_price was collected using the table .mdao_harmony.txs. This table directly lists the gas price of each block. The amount of gas used was found using the table mdao_harmony.blocks. This table also contains a column called tx_count, which lists the number of transactions that were processed per block. Using these columns we can compute the average per transaction in a given block. This fee was then multiplied by the price of the ONE token to get the price of the fee in USD.
3. Find the number of transactions per hour on Polygon: found by counting the number of distinct transactions in the table polygon.transactions and grouping by hour.
4. Find the number of transactions per hour on Harmony: found by summing over the number of transactions per block in the table mdao_harmony.blocks and grouping by hour.

Results

Apart from some spikes, it looks like the daily average transaction fee was lower on Harmony compared to Polygon since 2022.

When looking at the hourly transaction fees over the last 30 days, Harmony has been more stable while Polygon has seen larger spikes.

The average transaction fee has been about 5x cheaper on Harmony compared to Polygon over the last 30 days.

The number of hourly transactions on Polygon has been relatively stable over the last 30 days at around 150k. On Harmony, the number of hourly transactions has been declining since April to around 50k.

Conlusion

• The average transaction fee has been about 5x cheaper on Harmony compared to Polygon over the last 30 days.
• The number of hourly transactions on Polygon has been relatively stable over the last 30 days at around 150k.
• The number of hourly transactions on Harmony has been declining since April to around 50k.