Number of Hive Transactions By Category | Posts, Votes, Transfers and Custom JSONs

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. Since then a few changes were made and this have affected some of the transactions.

Here we will be looking in the numbers for transaction, 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 transaction on the blockchain. The claim rewards operation also has a high number of transactions, 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 April 2022, a small drop afterwards and in the last weeks an increase again.
In the last 30 days the number of posts and comments is on average 25k per day. Even with the sharp drop in the crypto prices, the activity for posts and comments remains healthy.

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 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 2021, 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 June 2022 there was some changes in the reward system and some bots stopped playing. We can see the drop at the end of the chart. Since then, the transactions started growing again and we are now again at 2M per day.

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.

The monthly transactions grew until November 2021, when they reached 115M for the month, and a slow decline since then. In the last month June 2022 we can see a bigger drop, this again is due to Splinterlands and their change in the rewards system.

The chart for July 2022 top transactions looks like this:

Here once again we can see the dominance of the custom json transactions.

Operation	June 2022
JSON	57,911,927
Votes	8,256,182
Posts and Comments	720,486
Transfers	594,098

Almost 70M transactions in June 2022, out of which 58M are custom json transactions. Next are the votes with 8.2M, then posts and transfers with under 1M.

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.

All the best @dalz

Posted Using LeoFinance ^Beta