A set of Key Performance Indicators most correlated with the success of the Bitcoin network and ecosystem.
The goal of this website is to serve as dashboard focused on presenting historical data most correlated with the success of the bitcoin network and overall ecosystem.
He wrote a great series on the project here.
It’s a very interesting dashboard with 6 core categories that provide specific charts and graphs on Network Security, Block Space Economics, Value & Uptake, Layer 2(Lightning Network) and an intersting set of Cycle comparison charts.
Data from multiple sources is used to present the data incluing on-chain data, lightning network, coinjoin, mempool and CoinMetrics data.
Here is a quick overview of the different views on Bitcoin KPIs.
Network Security Charts
Network security charts provide a view into hashrate information including process and hashrate. Bitcoin Node Count is shown over time.
The more nodes the better when it comes to a secure network and the higher the hashprice, the more miners are earning per terahash.
Block Space Economics
The Block Space Economics dashboard shows a view of Block Space Price, Security Spend Ratio, Block Space Fees queued in Mempool and transaction density.
Block Space Price is the total blockspace fees paid in the period divided by the total blockspace bytes in the period. When demand for blockspace goes up, the price should increase due to fixed supply.
Transaction density is the amount of $USD value transacted on the blockchain, per byte of blockspace. If blockspace becomes increasingly valuable we would expect it to be used for the highest value use cases. From bitcoinpkis.com
Value and Uptake
The value and Uptake dashboard shows Market Cap, Realized Cap, RealCap Weighted HODL Waves and Transaction Volume.
Market Cap is the supply of Bitcoin multiplied by the price.
Realized Cap is a rough approximation of the cost basis for Bitcoin hodlers. If Realized Cap increases, that means more fiat has been exchanged for Bitcoin.
Realized Cap HODL waves are a way of looking at market cycles. It tracks how much Realized Cap value is accounted for in different UTXO age bands.
Transaction Volume shows the $USD denominated value transacted on-chain over the relevant period.
Privacy and Fungibility
Unspent BTC amount of Whirlpool-coinjoined transaction outputs. ~100 BTC discrepancy from Clark Moody's dashboard may be due to impact of Tx0s, which are not counted in my unspent capacity calculation.
Whirlpool Unspent Capacity number of unspent outputs from Whirlpool-coinjoined transactions.
Whirlpool Volume is the total volume mixed by Whirlpool.
Whirlpool volume by pool is the percentage of whirlpool volume coming from different sized pools.
Public Lightning Nodes shows the total count of lightning nodes with at least one pubic channel open as of the date.
Lightning Node Public Channel Count is the total number of open **public** lightning channels as of the date. Many lightning channels are private, so this undercounts total channels in existence.
Lightning Node Total Public Channel Value is the total value of all **public** lightning channels as of the date. Many lightning channels are private, so this undercounts total channels in existence.
The mean proportional fee is the fee per public lightning channel. "proportional fee (fee_rate) which is by default in lnd: 0.000001. This means there is an additional 1 sat charged for every million satoshis in the routed payment." From bitcoinpkis.com
Bitcoin Cycles Comparison
The last dashboard provides a view that compares tghe 2013, 2017 and 2021 cycles overtop of each other. This is a great view for comparing Market Cap, Hashrate, On-Chain transaction volumes and Active On-Chain addresses.
I really like this chart because I love to compare the cycles to help forecast where things are going.
Overall this is a great tool for monitoring the overall health of the bitcoin network and ecosystem.
Check it out for yourself. Let me know if you have any thoughts on this tool or if you have any questions.
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