It’s been almost three months since the launch of Conflux’s mainnet, Tethys. And, we wanted to know how the network performed in its first quarter. Therefore, in this article, we will check different on-chain metrics to understand the Conflux network’s status.
Table of Contents
Blocks and Transactions
In its first two months of launch, Conflux saw more than 1 million transactions/month. The blockchain produced ~15 million blocks, in which more than 99% of blocks contained less than ten transactions.
There were 10 million blocks with 0 transactions, and the largest block had 1,006 transactions. When writing this article, users executed more than 3.1 million transactions on the Conflux network.
The transaction volume also rose during the period, and in Jan 2021, it is crossing $40 million.
In terms of Gas spend, the Conflux network spent only $11 in the total gas fee, which is very low compared to any other smart contract blockchain.
Smart Contract Calls
Smart contract calls are a good indicator that shows the usage of a smart contract blockchain. In the first three months, Conflux crossed 1.9 million smart contract calls.
A total of 77,798 users called 326 unique smart contract methods on 446 unique contracts deployed on Conflux at the time of writing this article.
Just to put things in context, Ethereum currently executes 100 million smart contract calls per month and has more than 37 million unique smart contracts deployed.
Most active smart contract
0x818f0da6ba72feababdabc33cc36300b61167fae is the most used smart contract with more than 424,443 smart contract calls. However, this contract only spent ~ $0.0000000178 in Gas.
Top gas spender
cUSDT token smart contract is the top gas spender on the Conflux blockchain, which spent $0.16 for executing 210,421 transfers with an average of 208 cUSDT / transfer.
Conflux has a total of 127 different currencies deployed on it. In the last three months, the network saw more than 5 million transfers and 154,000 unique senders, and 116,000 receivers.
The Conflux token (CFX), the native token of the Conflux blockchain, had ~147,000 users, executing 1.25 million transfers, totaling a $99 million transfer volume. However, in terms of transfers, CRCL_USDT_symbol is on the top with more than 1.3 million transfers.
We also looked into the Conflux block producers numbers. In the first month, the network saw more than 25,000 unique block producers. However, since then, numbers are stabilizing, and around 10,000 miners participated in the network in January.
Wrapped CFX (WCFX)
Conflux already has its first decentralized exchange, Moondex and several other DeFi projects are building on Conflux. That’s why the Wrapped CFX token saw 136 million in transfer volume in the last three months.
Note: You can learn about any Conflux token’s stats on our Bitquery explorer. Just search your token address.
We have added a new money flow graph, “Sankey” to help the community understand the source and destination of funds. This is powered by our Coinpath APIs, which we recently enabled for all tokens built atop Conflux blockchain.
Using our GrpahQL APIs you can query Conflux blockchain. Besides, we have several new APIs in the pipeline to help the Conflux community provide a more detailed analysis of the Conflux blockchain, Dapp, Tokens, etc.
You can access our Conflux explorer here and GraphQL APIs here.
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