Hive has a fast and feeless transactions. In the last year Splinterlands has taken a full advantage of this increasing the numbers of players and overall activity. In the last months things have settled a bit and now we have a steadier number in the transactions.
We will be looking in the numbers for activity, and not just in terms of posting but other activities as well, like votes and custom JSONs that are mainly driven by games.
Before we continue with the analysis just a note on the activities. Unlike the good old Bitcoin, that has only one operation (transfer coins), Hive has a lot of them.
Usually when talked about activity on the Hive blockchain a lot of the users have in mind posting and commenting. Here we will be looking in the top 4 activities on the blockchain:
- Posts and Comments
- Votes
- Transfers
- Custom JSON operations
The above consist the majority of all the activities on the blockchain. The claim rewards operation also has a high number of activity, but we will leave out that one.
The period that we will be looking at here is from the start of 2021 till today.
Number of Posts and Comments
Although gaming is growing on the blockchain, blogging still remains the core activity and one of the key ways inflation is distributed. Users can blog about gaming as well 😊.
Here is the chart for the number of posts and comments on the Hive blockchain.
Overall, a steady growth of posts and comments on the blockchain.
An increase in the numbers up until June 2021, when the prices in crypto dropped. The summer of 2021 has seen some drop in the posting activities as well. Then a growth once again towards the end of the year and in 2022.
At the beginning of 2021 the number of posts and comments was around 15k and now it is around 30k. A 2X in the numbers.
Number of Votes
The chart for the votes looks like this.
Votes are one of the core operations on the Hive blockchain. That is how the rewards are distributed. The Proof Of Brain mechanism (PoB) 😊.
The number of votes has been quite steady in the period, compared to the price volatility.
In the last period the numbers are between 250k to 300k votes per day. On few occasions there was more then 300k per day.
Number of Transfers
The chart for the transactions looks like this.
The chart for the transfers has seen some more volatility, especially at the end of August an in September the last year. 2021 started with around 20k transfers per day, then it increased to 40k in August, and a drop to around 20k where it is now.
Number of Custom JSONs operations
The chart for custom JSONs operations.
The custom json transactions are used mainly from the games on Hive, with Splinterlands on the top. Custom jsons are just a text files, but unlike the post and comments, they are like sidenotes, and don’t appear as post.
This chart shows the growth of Splinterlands the most.
It is an interesting one, because we can see the spike that happened in August, pushing the number of operations to more than 4M per day, and then a drop to 2M.
This is because Splinterlands has adjusted the way they store data on the blockchain, especially for the battles, resulting in less transactions. However even with these operations removed from the blockchain the overall operations continued and have reached 4M per day again.
In the last month the numbers are in the 2.5M to 3M range.
Overall Transactions on Hive
When we combine all the charts above, we get this.
As we can see the custom jsons operation are now dominating the Hive blockchain. In the last period more than 80% of all the operations on the Hive blockchain are custom jsons.
Although we should mention that the “weight” of these operations is not the same, so its not totally comparable. Posts have the largest weight, as they require a lot of texts and effort, unlike votes or jsons, that are usually a one click operation.
Number Of Transactions Per Month
The monthly chart presents a better overview of the transactions. Here it is.
Note that not all the Hive transactions are included above.
Up until June 2021, the number of transactions per month was around 30M. Then in July it started to grow, and it reached more then 100M transactions in October and November.
For comparison BTC has around 10M monthly transactions and ETH is around 30M to 40M. BSC is somewhere around 150M.
With the number of transactions as the above, Hive is proving that it is efficient and can handle the load.
