Layer by Layer Issue 19: Cardano, Harmony, Fantom, and Solana

One of the core features of modern blockchains is the ability for theoretically anyone to verify data on-chain after consensus has been reached, whether it relates to network performance or the activity surrounding a particular application. Throughout this series, we have often utilized data derived from the blockchain to assess various aspects of L1s and their corresponding dApps, such as growth, volume, user trends, and more. As with all data, on-chain metrics are only meaningful when contextualized; without proper context, it is especially difficult to compare stats between chains and protocols that often feature highly variable designs. 

For instance, network throughput for L1s - typically measured as transactions per second - is often reported under ideal testing conditions. In reality, throughput can vary significantly depending on current network volume, demand for blockspace, complexity of transactions, and many other factors. Recently, we have seen how growing L1 chains experiencing heightened network demand are now starting to face serious challenges in terms of scalability. This past January, the Solana network saw several days of severely degraded performance amidst extreme market volatility and increased user demand. On Fantom, gas prices rose dramatically in response to similar catalysts over the same period.