Number of Transactions on Hive | Posts, Comments, Votes, Transfers, and Custom JSONs | Nov 2024

Hive is known for free transactions!
With the last Hardfork in October 2022, RCs were separated from HP, and this enabled even better management of the resource credits system and the feeless transactions.
In the past years games and especially Splinterlands have taken advantage of this and increased their product and users.
How are we doing these days in terms of transactions?

Usually when talking 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 activities on the blockchain:

• Posts and Comments
• Votes
• Transfers
• Custom JSON operations

The above consists of the majority of all the transactions on the blockchain.

Number of Posts and Comments

Although gaming is growing on the blockchain, blogging still remains the core activity and one of the key method inflations is distributed. Users can blog about gaming as well 😊.

Here is the chart for the number of posts and comments on the Hive blockchain.

Starting from 2020 till today, we can see an overall uptrend in the number of posts and comments, when we look at them together.
We can notice the volatility in the last period. This is due to the short form content that has become popular on the Hive blockchain in the last period. InLeo started first, but now we have short form options on Ecency and PeakD as well. The short form content is usually posted as comments.

In the last period there was days on which then numbers were higher than 50k per day. This is sort of a record for posts and comments since the inception of the chain back in March 2020.
On average, the numbers are between 20k to 30k per day.

When we break down the activity in posts and comments we get this:

Here we can see a clearer picture of the activity and the impact of comments. While the number of posts ahs been slowly going down since the last bull market back in 2021, the number of comments has been growing and reached a new heights. The volatility in the last period is mostly because of the introduction of Snaps from the PeakD team.
While the number of daily posts is in the range of 2k to 3k, the numbers of comment has been reaching a new heights, up to 50k per day. On a regular day, the number of comments has been around 25k in the last period,

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.
Votes have been almost constant around the 300k per day now.

Number of Transfers

The chart for the transactions looks like this.

There has been an uptrend in the period 2020 to 2022, while in 2023 there has been some oscillations and peaks, but overall, the year is quite constant in terms of token transfers. On average around 20k transfers per day.

Number of Custom JSONs operations

The chart for custom JSONs operations.

This is the number one type of operation on the blockchain at the moment.

This is the most volatile chart of all the types of operations on Hive. It mostly follows the Splinterlands development and activities. The ATH for custom jsons was back in the end of 2021, when on occasions there was 5M transactions per day.

In 2024 the number of custom jsons operations has dropped from around 1M per day at the beginning of the year to around 500k at the moment. These transactions are mostly driven by Splinterlands.

Monthly Number of Transactions per Category

The monthly chart presents a better overview of the transactions. Here it is.

We can see that the custom json operations are dominating the chart and are defining the trend.
The ATH was back in November 2021, with more than 100M operations.
When we zoom in 2023-2024 we get this:

At the begging of the 2023 there were around 80M transactions per month, while the year ended with just bellow 40M transactions.
In 2024 there is around 25M transactions per month.

Again, this is because of the drop in the Splinterlands activities. Although it seems that the numbers have stabilized since the summer of 2024 and have been quite constant in the second half of 2024.

Top Operations in October 2024

Here is the chart for the transactions per category for the last month.

Not surprising, the custom jsons comes on the top with 12M monthly transactions. Next are votes with 8.5M, and interestingly enough the claim reward button on the third place with 1M. The comment operation that stands for posts and comments is in the fourth place with 675k. There is a big drop in the numbers after the vote operations. Unlike the previous years when the custom jsons were absolutely dominant on the top, now they are still on top, but not as that far in front of the vote operation.

Another interesting operations from the list above is the limit orders that are made on the internal DEX. This is as a result of more liquid internal DEX and more trading operations made there, basically using the Hive chain as an exchange. Another of the many functionalities.

The pie chart looks like this:

Here once again we can see the custom json transactions are on the top. A 52% of all the transactions on chain in October 2024 belong to this category. Back in the days this share was as high as 80%. Votes have now increased there share and have 37%.

Also, we should bear in mind that not all the transactions above have the same weight. Publishing a post usually requires more effort than just clicking an in-game button or clicking the like button.

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Overall the comment operations are up, while the custom jsons are down. The other operations, especially votes are mostly stable.

All the best
@dalz