Introduction

NEAR is a blockchain that has been built from the ground up to be high-performant, incredibly secure, and infinitely scalable all while supporting sustainability. In short, NEAR is a layer one, sharded, proof-of-stake blockchain built for usability and scalability.

This dashboard investigates the number of “active users” on NEAR.

Methodology

• An “active user” is defined as a wallet/account that has signed at least one successful transaction in the last 90 days.
• The number of users (tx_signer) and the number of transactions (txn_hash) is sourced from the flipside_prod_db.mdao_near.transactions schema.

Active users on NEAR

Findings:

• In the last 90 days, there have been 327K unique active users on NEAR signing c. 60.4 million successful transactions, an average of 185 per user.
• Compared to other blockchains, the number of active users on NEAR is comparable to other alternative Layer 1 chains such as Avalanche and BSC, but lags significantly behind Ethereum, the most established Layer 1 chain.

Daily trends

Findings:

• The daily number of active users on NEAR has been on a downward trend.
• The average number of transactions per user peaked at 112 on 10 May 2022 (at the onset of crypto market volatility) and has declined materially since then.

Conclusion

• The number of active users on NEAR is comparable to other alternative Layer 1 chains such as Avalanche and BSC, but lags significantly behind Ethereum, the most established Layer 1 chain.
• The number of active users and the average number of transactions per user have been on a downward trend in the last 90 days. This has much to do with the general lack of activity due to the crypto bear market. Some critics have said that NEAR is DOA (dead on arrival).

If NEAR were a city, who would the citizens be? They would be Scousers, residents of Liverpool, a relatively small, economically immaterial but culturally significant city in England.