2021 was the year of the rise of new layer one L1 blockchains. A lot of them Ethereum compatible blockchains, or EVM compatible (Ethereum Virtual Machine). There is now at least ten blockchains that have established them self in 2021.
Here we will be looking at Avalanche and the Fantom network and compare the key metrics for each of them.
Both Avalanche and Fantom are Proof of stake (PoS) chains. Both of them have appeared as an smart contract platforms with cheaper fees as alternative to Ethereum.
We will be looking at:
- Number of Addresses
- Active Addresses
- Daily Transactions
- Block Size
- Contracts
The period that we are looking into is Jan 2021 to Feb 2022
The data for the chains will be extracted from their blockexplorers:
- https://snowtrace.io/charts
- https://ftmscan.com/charts
Number Of Addresses
One of the key metrics for crypto projects is the number of wallets.
First the overall number of wallets.
As we can see from the chart, the two chains are now very close with more then unique wallets. Avalanche started a bit later with its growth, but it has grown in the last period and now the two chains are close in terms of wallet addresses.
Both of the chains experienced their growth in the second half of 2021 with Fantom starting in the summer and AVAX joining a bit later in the autumn of 2021.
For comparison Ethereum has 190M wallets vs the 2M of these chains.
Active Addresses
What’s more interesting in times like this is how many wallets are transacting. How many of those addresses are actually active?
The Fantom blockexplorer still doesn’t have this data so I was not able to plot them on one chart. Here are the charts for the both of them.
Avalanche
We can see that in the last period the daily active wallets on AVAX has been around per day. At its ATH there was 140k active wallets per day.
Fantom has gowned up to 110k in October 2021 and in the recent period it is around active daily wallets. Compared to Avalanche 100k, Fantom has less active daily wallets per day. ETH is around 600k and BSC more then 1M daily active wallets.
Daily Transactions
The activity on the networks is mostly represented by the number of daily transactions. Here is the chart.
We can see the trend with Avalanche increasing its numbers a bit later here as well. But as for the other data, they are quite close in the last period.
Both Avalanche and Fantom are with more then daily transactions with Fantom leading the way for jus a bit in the last days.
