Data: DeFi transactions continue to "erode" other types of transactions in Ethereum's block capacity

Data released by ETH analysis company Covalent co-founder Ganesh Swami shows that DeFi transactions account for an increasing proportion of Ethereum block capacity, while the share of ETH transfer is declining. Swami analyzed the gas costs incurred in Ethereum transactions over a period of time to estimate the proportion of network activities represented by ETH transfers, simple ERC-20 transactions, and complex interactions with smart contracts typically associated with the DeFi protocol. At the same time, the gas cost of each transaction category is increasing. Swami noted that "the total amount of gas consumed by all types of transactions seems to be a natural upper limit", which shows "strong demand for Ethereum block capacity" and its network "lacks scalability", adding: "In In an ideal scalable blockchain network, all types of transactions have room for growth. But in today's Ethereum, in order for one of these transactions to grow, it must eat away at other transactions. "Swami predicts that as more and more Many DAOs, games and other NFT applications are launched on Ethereum, and the proportion of complex transactions in their network activities will continue to grow. Therefore, Swami expects that this trend will soon lead to more complex transactions than ETH transfers.