Fee

The fee refers to the amount charged for the processing of a transaction or an operation on the network. The fee is paid in the native cryptocurrency of the blockchain network and is used to incentivize miners or validators to process the transaction or operation. The fee is usually determined by the current level of network congestion and the amount of gas required to execute the transaction or operation. In general, the higher the fee paid, the faster the transaction is processed since miners or validators prioritize transactions with higher fees. However, some blockchain networks may also give users the option to set a lower fee and wait for a longer processing time. Fees are an important aspect of the blockchain ecosystem as they ensure the smooth functioning of the network and discourage spamming or malicious use of network resources. By paying a fee, users are essentially purchasing priority access to the network, ensuring the timely and efficient execution of their transactions or operations.

Transaction

A transaction in Blockchain refers to the transfer of data or cryptocurrency between two parties on the blockchain network. Transactions contain essential information such as the sender's address, the recipient's address, the amount being transferred, and any associated fees. In a blockchain network, transactions are verified by nodes or miners according to the network's defined consensus mechanism. Once a transaction is validated, it is recorded onto the blockchain ledger, which is a decentralized and immutable record of all past transactions on the network. Every transaction on the blockchain network is assigned a unique transaction ID or hash, which is used to identify the transaction on the blockchain. The transaction ID, along with other transaction details, is stored in blocks which are linked together forming a chain or "blockchain". Transactions in blockchain networks can involve the transfer of various types of digital assets and data, including cryptocurrencies, decentralised applications, smart contracts, and tokens. As such, transactions form the building blocks upon which blockchain networks operate, providing the means for peer-to-peer value and information transfer without the need for intermediaries.

Active Users (Wallets)

In Blockchain, an active wallet is a cryptocurrency wallet that is currently in use and is actively used for sending and receiving digital assets. A cryptocurrency wallet is a software application that allows users to store, manage, and transact with their digital assets. An active wallet is typically connected to the blockchain network and is used for initiating transactions, either sending or receiving cryptocurrencies.

Smart Contract

A smart contract is a self-executing agreement or contract that is stored on a blockchain. It is a computer program that automatically executes the terms of the contract when certain predetermined conditions are met. Smart contracts are built using code, and are stored on a decentralized blockchain network, meaning they are not controlled by any central authority. Smart contracts were first proposed by computer scientist Nick Szabo in the 1990s, and have gained popularity as a powerful tool for building decentralized applications (DApps) on blockchain networks. Smart contracts can be used to automate many traditional legal and financial agreements, including property transfers, financial contracts, and digital asset exchanges. One of the key benefits of smart contracts is their transparent, tamper-proof nature. Once the terms of the contract are agreed upon and the contract is deployed on the blockchain network, it becomes a permanent, immutable record that cannot be altered or deleted. This provides a high level of security and eliminates the need for intermediaries or third parties. Smart contracts are typically written in programming languages specifically designed for creating such contracts on a blockchain. Examples of smart contract languages include Solidity (Ethereum), Simplicity (Bitcoin), and Rholang (RChain).

Transaction Speed

Transaction speed in blockchain can be measured by the number of transactions processed per minute or per hour. This is another way to gauge the efficiency of a blockchain network in processing transactions.

Succeeded and Failed Transaction

A successful transaction in a blockchain network is one that has been verified by the network nodes and added to the blockchain ledger. This means that the transaction has been confirmed and the transfer of assets between accounts has been completed.

On the other hand, a failed transaction is one that has not been verified by the network nodes and therefore has not been added to the blockchain ledger. This can happen for several reasons, such as insufficient funds or a lack of gas to complete the transaction1. When a transaction fails, it’s as if it never occurred in the first place

Flow Blockchain

Flow is a fast, decentralized, and developer-friendly blockchain that was built to support decentralized apps (DApps), games, and the digital assets they run on. It is designed for scalability and faster speed without sharding techniques, which makes it ideal for crypto-based games and NFT collectibles1.

Flow utilizes a unique multi-role architecture that focuses on scaling without sharding. This allows for massive improvements in speed and throughput while preserving a developer-friendly environment.

Flow is designed to maximize developer productivity and reduce the complexity that is seen in other blockchains. For example, purchasing a CryptoKitty on Flow involves one atomic transaction in a single block, whereas on other blockchains it could involve dozens of transactions.

Flow also has its own native currency, FLOW, which is used by validators, users, and developers to participate in the ecosystem.

Some popular DApps on the Flow blockchain include NBA Top Shot, a platform for buying, selling, and trading officially licensed NBA collectible highlights, and CryptoKitties, a game centered around collecting and breeding digital cats.

NBA Top Shot is a platform that allows users to buy, sell, and trade officially licensed NBA collectible highlights. These highlights, called “moments,” are unique digital assets that capture iconic plays and moments from NBA history. Each moment is a non-fungible token (NFT) that is verified on the Flow blockchain.

CryptoKitties is a game centered around collecting and breeding digital cats. Each cat is a unique NFT that is verified on the Flow blockchain. Players can breed their cats to create new, unique offspring with varying traits and appearances.

These are just two examples of popular DApps on the Flow blockchain. There are many others across various categories such as games, DeFi, gambling, exchanges, collectibles, marketplaces, social media, and more.

You can find a list of top Flow DApps ranked by specific metrics like daily users and daily volume on websites like DappRadar.

In this report, in order to identify the factors affecting the trend of increasing or decreasing the number of active users in the blockchain network, we used the data of the following three tables:

• flow.core.fact_transactions: From this table, we calculated and extracted the data related to the number of transactions, the number of active user wallets, the number of successful and unsuccessful transactions, and the speed of transaction execution per minute, hour, and day.

• flow.core.fact_events: From the events table, we were able to identify and retrieve the smart contracts that users have used to execute their transactions, as well as the transaction fees.

• flow.core.fact_hourly_prices: From this table, we calculated the average price of the main token of the network i.e. Flow in the specified time period and used it in the desired graphs.

The impact of a very large number of metrics can be considered to check the increase or decrease of the number of active users in a network. In this dashboard, we investigated the following criteria: The number of succeeded and failed transactions, the speed of execution of transactions per minute and hour, the fee paid for the execution of transactions and the birth of new smart contracts over time.

• In the current tab, which is named Introduction and Methodology, definitions and presentation of metrics and methodology are discussed.

• In the second tab called Overall Information, firstly, we have measured the overall values as well as the criteria defined in the introduction tab from the beginning of the Flow network launch period until now and presented them along with some specific measurements.

• In the third tab,i.e. Comparison of Active Users vs. Other Metrics we have drawn the trend of increase or decrease in the number of active users in Flo network along with other metrics and compared them. Charts are in two formats (daily or weekly) and monthly. Drawing charts in the format (daily or weekly) depends on changing the Interval parameter and applying it to the queries by the user, which will be explained below.

• According to the extracted results in this dashboard, we thought it would be better to examine the trend of users' presence and activity in the Flow network with the birth of new contracts in a more special way. Because creating new contracts in the network means upgrading the network or the presence of a newer application in the network, which can attract more users to any blockchain. Therefore, in the fourth tab under the title Active Users and New Contracts, we have addressed this topic.

• In the last tab called Summary, a abstract of the results obtained in the analytical sections is provided.

The use of parameters in the dashboard will definitely increase the dynamics of the information presented in it. We have always tried to use this feature in all our dashboards:

• Interval: By changing this parameter to Daily or Weekly time interval charts, the corresponding charts will be changed to daily or weekly. Daily is default.
• Time_Period: This parameter has two values All_Time and Specific_Time. The first option makes the time period of the corresponding values and graphs calculated and drawn during the entire lifetime of the Flow network. If the second parameter is selected and applied, you must use the following two parameters to specify the time period.
• From_Date: You must enter the start date of the desired time period.
• To_Date: You must enter the end date of the desired time period.

Warrning: If the All_Time parameter is selected, the queries used in this report may not be executed (time_out error) or may take too much time to provide the output.