Fantom’s DAUs Growth Over 40% Last Year

Key Points:

• Andre Cronje posted a performance review of Fantom (FTM) in 2022.
• The yearly growth of average block size on the network reached 163% in 2022, compared to 25% in 2021. According to Cronje, the increase in block space equates to users paying more to include their transactions.
• Daily active users (DAUs) on Fantom surged 41% in 2021-2022 compared to 5589% the previous year.

Andre Cronje, who had returned to the Fantom Foundation in November as an architect, posted a performance evaluation of Fantom (FTM) in 2022 on December 24.

According to information from FTMScan that Cronje published, between 2021 and 2022, the yearly growth of daily transactions on the Fantom network reached 131%. The network’s yearly growth of 12.998% in 2020–2021 is considerably behind this. According to Cronje, the number of daily transactions reflects the volume of user activity on-chain.

The daily verified contracts measure the number of new contracts validated on the network. Cronje commented that although it’s a bit of a jump to translate this to developer activity, it is a proximity thereof. The number of daily verified contracts on Fantom climbed by 70% in 2022 compared to 1400% in 2021.

On the Fantom network, the average block size increased by 163% annually in 2022 as opposed to 25% in 2021. According to Cronje, users will have to pay extra to have their transactions included as a result of the increase in block capacity.

The number of daily active users (DAUs) increased by 41% in 2021–2022, compared to 5589% the year before. In addition, compared to 2020–2021, the average number of active developers on the network climbed by 41% in 2022.

Daily gas consumption, a measure of customer’s willingness to pay to add their transactions to the network, increased by 86% over the previous year. In contrast, daily gas use on Fantom increased by 9425% in 2020–2021.

Cronje returned to this prospective financial sector after leaving the cryptocurrency and decentralized finance (DeFi) realm in March.

Despite a dip in growth during the crypto winter, Fantom’s growth metrics are still in the high double and triple digits, which is extremely high for any tech or growing business, according to Cronje. Added him:

“We can see that Fantom has been able to achieve this growth with very low incentives and can continue to achieve this sustainable growth.”

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