Wallets or Users?

A common mistake is to assume that only one user is behind a wallet. But several users can interact with a single wallet and one user can have several wallets. Which metric should we use?

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As we have seen in the previous chapters about the wallet type or usages, several users can have interacted with a single wallet but a user can also have several wallets.

This difference is quite significant in the sense that if an entity made up of several individuals decides to carry out a growth hack to bias a vote on the blockchain, it can completely influence the results especially when they are displayed in real-time publicly. Another important aspect of this difference is that because of the pseudonymous nature of the blockchain, we can only assume that it is indeed the user who ‘should’ be behind a signature that signs. 

It is therefore an element to keep in mind when a community seems very large compared to the others or when a certain volume of wallet activity begins to grow very quickly from one week to the next.

NFT Weekly Dapp activity - NonFungible.com
Dapp Activity – NonFungible.com

In this example, each buyer and seller are counted for each project listed, while in the other column, it is the users who have used their portfolio at least once. 

An important piece of information regarding the number of addresses that have interacted with MoonCatRescue is that less than 1085 of them have bought or sold one. This reflects a significant craze around a project running on an auction system but which has been distributed to less than a third of potentially interested users to obtain one.

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