Try Quests to earn FLOWFlow Speed (Redux)
Bounty Question: 6 months ago, we asked for a comparative analysis on blockchain speed - how has Flow increased its speed in transactions per minute since? Compare Flow and other L1 blockchains in terms of speed: identify the monthly average for transactions per minute, and how that's improved or worsened since the beginning of 2022. What types of events have raised or decreased the blockchain's performance over that time period? Are there bursts of transaction volume or interest on the chain? Compare Flow's speed to at least two other blockchains.
Methodology
- Calculate the Flow transaction per minute (TPM).
- Get the daily Flow TPM and Unique user count.
- Find out the daily success and failure TPM.
- Get the daily transaction count from the top 10 events, and analyze any correlation with TPM.
- Calculate and compare the STPM from FLOW, Solana, and Ethereum.
Since 2022, Flow's average transaction per minute has been 491, with Flow's average successful transaction per minute being 432.
The left chart shows Flow's average transaction per minute (TPM) and unique user count over time.
The TPM of Flow swings between 200 and 400 TPM weekly before peaking at around 1000 TPM many times after June.
Furthermore, we may conclude from the unique user and TPM comparison that the unique user count has been associated with the TPM.
The right graph also shows the daily TPM, which includes Success, Fail, and Combined. Surprisingly, the volume of unsuccessful transactions jumped by over 50% in May before declining after that. However, the failure rate has been growing since November, coinciding with FTX's crash, before returning to normal in early December.
Since 2022, the figures display the top ten Flow events by STPM (Successful transactions per minute). TokenDeposited and TokenWithdrawn both has 432 STPM, while FeesDeducted came in third with 370 STPM.
In this part, we shall compare the Flow speed to the speeds of Ethereum and Solana.
Flow has 432 STPM since 2022, whereas Ethereum has 754, and Solana has 20.5k STPM.
The graphs illustrate the three blockchains' daily and 30-day moving average STPM.
Solana has the highest daily success TPM of over 20k, although it has since reduced, followed by Ethereum at roughly 750 STPM.
==Interestingly, Flow’s STPM has been increasing and on the rise throughout the year, rising from roughly 90 STPM to around 500 STPM, more than a 5x increase.==
Conclusion
- Flow TPM fluctuates between 200 and 400 TPM weekly, peaking at around 1000 TPM many times after June.
- Furthermore, based on the unique user and TPM comparison, we may deduce that the unique user count is related to the TPM.
- Since November, when FTX crashed, the failure rate has been increasing before reverting to normal in early December.
- Since July, JoyrideMultiTokenInfoEvent has risen to 10% and 20% of the top ten events.
- Since 2022, Flow has received 432 STPM, Ethereum received 754, and Solana received 20.5k STPM.
- Throughout the year, Flow’s STPM has increased and stayed on the rise, rising from around 90 STPM to around 500 STPM, a more than 5x increase.
Flow Speed (Redux)
- Dashboard by h4wk#6690 - Last updated 11th December 2022.
- Twitter:
- Data from flipsidecrypto
The graphs depict the total number of transactions and the proportion of the total number of transaction events in Flow over time.
The graph illustrates Flow's top 10 daily transaction occurrences. The transaction volume has risen dramatically multiple times, peaking on August 22 with approximately 90 million transactions from the top ten events.
Interestingly, JoyrideMultiTokenInfoEvent has climbed to roughly 10-20% of the top 10 events every week since July.