{"uuid":"7d40d444-94c8-4904-4671-2463f9a78d9a","categoryUuid":"7da7918d-5648-48ec-7267-812a87fac227","data":{"meta":{"name":"ETH: Exploring the Etherverse"},"configs":[{"meta":{"asset":"ETH","currency":"native","metricCode":"transactions.TxTypesBreakdownCount","resolution":"24h"},"uuid":"5c81106c-4702-4eda-9922-c9683819532b","extra":{"price":true,"scale":"lin","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"transactions.TxTypesBreakdownRelative","resolution":"24h"},"uuid":"e45d91dc-8266-4411-889e-64c9ccb3e301","extra":{"price":true,"scale":"lin","chartStyle":"line"},"configType":"metric"},{"meta":{"content":"# A Short History of the Etherverse\n---\n\nEthereum is a permissionless platform, and as such, doesn't have an inherent purpose that is enforceable. In any meaningful sense, a permissionless platform is defined empirically by its usage. The charts below explore the Etherverse from the perspective of the market share captured by various use cases in relation to on-chain transactions, and gas consumption. This dashboard supports [our research paper](https://insights.glassnode.com/a-short-history-of-the-etherverse/) where we explore the dynamic landscape of Ethereum usage over time. \n\n---\n\n## Transaction Count Breakdown\n\nThe two area charts below break-down the pool of confirmed Ethereum transactions into various application types (details of each category are below the charts). Two variants of this metric are presented; **Absolute**, showing the raw number of confirmed transactions of each application type, and **Relative** which presents as a proportional of the total."},"uuid":"fac7c9e5-2769-4e06-b7a1-2a2b87da966c","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.TxTypesBreakdownSum","resolution":"24h"},"uuid":"61becb3f-95ff-4ed2-befe-294bbe386cd1","extra":{"price":true,"scale":"lin","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.TxTypesBreakdownRelative","resolution":"24h"},"uuid":"08362f13-692e-4eae-9f19-ff8ef6251164","extra":{"price":true,"scale":"lin","chartStyle":"line"},"configType":"metric"},{"meta":{"content":"# Descriptions of each Application Category\n\nIn the charts above and below, we classify each transaction type into the following categories:\n\n- **Vanilla:** Pure Ether transfers with no contract being called.\n\n- **Stablecoins:** Fungible tokens that have their value pegged to an off-chain asset, either by the issuer or by an algorithm. \n\n- **ERC20:** Transactions sending any ERC20 token that are not stablecoins.\n\n- **DeFi:** Transactions interacting with on-chain financial instruments and protocols implemented as smart contracts. This includes over 90+ DeFi protocols, such as Uniswap, Etherdelta, 1inch, Sushiswap, Aave, and 0x.\n\n- **Bridges:** Contracts allowing transfer of tokens between different blockchains. We include 50+ bridges in this category, such as Ronin, Polygon, Optimism, and Arbitrum.\n\n- **NFTs:** Uniquely identifiable pieces of data that can be owned and transferred on-chain. This category includes of both token contract standards (ERC721, ERC1155), as well as NFT marketplaces (OpenSea, LooksRare, Rarible, SuperRare) for trading those.\n\n- **MEV Bots:** Miner Extractable Value (MEV) bots which execute transactions for profit by reordering, inserting, and censoring transactions within blocks.\n\n- **Other:** All transactions that are not not included in categories listed above. Examples include multi-signature contracts of exchanges, centralized lending platforms, and gambling sites."},"uuid":"a6e0dba9-1874-4cbe-a3c8-51761ea77cc4","extra":{"backgroundColor":"#F0F0FF"},"configType":"content"},{"meta":{"content":"# Gas Consumption as a Measure of User Demand\n---\n\nOne of the best measurement tools for usage is the relative amount of gas used by activity type. While this is less intuitive than transaction count, this approach is rooted in Ethereum’s design itself:\n\n- The throughput of the Ethereum platform is limited in units of gas available per block. As use cases compete for the scarce block space, the winner is determined by the ability to provide sufficiently high fees, and the losers are effectively priced out of the platform.\n\n- The gas market is very competitive, gas expenditure is indicative of the user demand and the economic value assigned by users to a specific use case or a protocol. \n\n- Gas share represents a true economic expense by the user, and is thus harder to manipulate. Transaction counts can be more easily inflated, especially in periods of lower network congestion.\n\nWe can see from the ever evolving market share of various application types, that Ethereum has been many things. From a native asset payment network in the early days, to aplatform for issuing fungible tokens in 2018, and towards non-fungible tokens in 2021-22. Much aligned with the original Ethereum vision, Ethereum appears have achieved its goal of being a general purpose decentralized computer, agnostic to the computations it performs."},"uuid":"a92e989a-a165-45c8-bd23-aa0cd4142f4e","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumVanilla","resolution":"24h"},"uuid":"9f01935c-33ff-410b-9d8c-0b8c5446a0fd","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumVanillaRelative","resolution":"24h"},"uuid":"83162e35-027e-4f00-9155-98fa7db94e41","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumStablecoins","resolution":"24h"},"uuid":"5fcc0d49-c612-4dae-aead-48b6292fa83b","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumStablecoinsRelative","resolution":"24h"},"uuid":"e2baa837-279c-49e6-8a75-685d66e3e667","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumErc20Relative","resolution":"24h"},"uuid":"633d46ae-1473-4b6c-831a-590885ecda3b","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumDefi","resolution":"24h"},"uuid":"cfa76153-2e12-4a7c-9527-d23cb8018752","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumDefiRelative","resolution":"24h"},"uuid":"769a48e4-82d6-43c5-855e-f6790d12bc4a","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumBridges","resolution":"24h"},"uuid":"90146153-8ba7-4b2e-b686-8a6d6dc1eb42","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumBridgesRelative","resolution":"24h"},"uuid":"ccbfa279-3eb7-47f6-ba97-a6a5aa0b4ab6","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumNfts","resolution":"24h"},"uuid":"c99b7f55-5836-4e04-bc07-5f5b00c01901","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumNftsRelative","resolution":"24h"},"uuid":"b7e88e84-061b-4ec1-86bd-5c2a70ff9a26","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","currency":"native","metricCode":"fees.GasUsedSumErc20","resolution":"24h"},"uuid":"2f7740c9-4c3d-4c9b-a86a-826f44011d29","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"content":"### Disclaimer\n\n---\n\n*This dashboard and associated content does not provide any investment advice. All data is provided for information purposes only. No investment decision shall be based on the information provided here and you are solely responsible for your own investment decisions. For for details, please refer to our [Terms and Conditions](https://studio.glassnode.com/terms-and-conditions).*"},"uuid":"ce098161-56b6-4764-b803-0b330c998be8","extra":{"backgroundColor":"#ffffff"},"configType":"content"}],"layouts":[{"h":8,"i":"5c81106c-4702-4eda-9922-c9683819532b","w":8,"x":4,"y":0,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"e45d91dc-8266-4411-889e-64c9ccb3e301","w":12,"x":0,"y":8,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"fac7c9e5-2769-4e06-b7a1-2a2b87da966c","w":4,"x":0,"y":0,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"61becb3f-95ff-4ed2-befe-294bbe386cd1","w":8,"x":4,"y":16,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"08362f13-692e-4eae-9f19-ff8ef6251164","w":12,"x":0,"y":24,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"a6e0dba9-1874-4cbe-a3c8-51761ea77cc4","w":12,"x":0,"y":32,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"a92e989a-a165-45c8-bd23-aa0cd4142f4e","w":4,"x":0,"y":16,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"9f01935c-33ff-410b-9d8c-0b8c5446a0fd","w":6,"x":0,"y":38,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"83162e35-027e-4f00-9155-98fa7db94e41","w":6,"x":6,"y":38,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"5fcc0d49-c612-4dae-aead-48b6292fa83b","w":6,"x":0,"y":44,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"e2baa837-279c-49e6-8a75-685d66e3e667","w":6,"x":6,"y":44,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"633d46ae-1473-4b6c-831a-590885ecda3b","w":6,"x":6,"y":50,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"cfa76153-2e12-4a7c-9527-d23cb8018752","w":6,"x":0,"y":56,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"769a48e4-82d6-43c5-855e-f6790d12bc4a","w":6,"x":6,"y":56,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"90146153-8ba7-4b2e-b686-8a6d6dc1eb42","w":6,"x":0,"y":62,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"ccbfa279-3eb7-47f6-ba97-a6a5aa0b4ab6","w":6,"x":6,"y":62,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"c99b7f55-5836-4e04-bc07-5f5b00c01901","w":6,"x":0,"y":68,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"b7e88e84-061b-4ec1-86bd-5c2a70ff9a26","w":6,"x":6,"y":68,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"2f7740c9-4c3d-4c9b-a86a-826f44011d29","w":6,"x":0,"y":50,"minH":1,"minW":3,"moved":false,"static":false},{"h":2,"i":"ce098161-56b6-4764-b803-0b330c998be8","w":12,"x":0,"y":74,"minH":1,"minW":3,"moved":false,"static":false}]}}