Introduction

What Is NEAR Protocol?

NEAR Protocol is a decentralized application (dApp) platform and Ethereum competitor that focuses on developer and user-friendliness. Its native NEAR tokens are used to pay for transaction fees and storage on the Near crypto platform. NEAR is a Proof-of-Stake blockchain that uses sharding technology to achieve scalability. NEAR Protocol is a smart contract capable, public Proof-of-Stake (PoS) blockchain that was conceptualized as a community-run cloud computing platform. Built by the NEAR Collective, NEAR was designed to host decentralized applications (dApps), and strives to compete with Ethereum and other leading smart contract-enabled blockchains like EOS and Polkadot. NEAR’s native token is also called NEAR, and is used to pay for transaction fees and storage.

NEAR tokens can also be staked by token holders who participate in achieving network consensus as transaction validators.

NEAR Protocol is focused on creating a developer and user friendly platform. To accommodate this mission, NEAR has incorporated features like human-readable account names as opposed to only cryptographic wallet addresses, and the ability for new users to interact with dApps and smart contracts without requiring a wallet at all.

Projects building on NEAR include Mintbase, a non-fungible token (NFT) minting platform, and Flux, a protocol that allows developers to create markets based on assets, commodities, real-world events, and more.

Methodology

NEAR Foundation publishes data to help the NEAR community understand the ecosystem's health as part of their Transparency Report. I will try to make the NEAR ecosystem even more transparent. I used Q3 report to make it more transparent.

Then, as an example, we will analyze “2022-12-14“ to “2022-12-21“ and check the health of the NEAR network. In this dashboard, you can change the parameters and select the desired date and then perform analysis, which is set by default from “2022-12-14“ to “2022-12-21“. In this review, we will look at the number of network users, transactions and the number of transactions in the default intervals and times, the volumes exchanged, swaps and NFTs.

For this analysis, we will use the data and features of Flipside Crypto.

The following topics are examined in this report

• User Activity
• Development
• Fee & Gas
• Staking
• Swap
• Performance
• NFT Sales

User Activity in Selected Week

Development in Selected Week

The development has been checked in the default week and the number of active and new contracts is given, which is equal to 165.9k and 137.9k respectively. The number of new daily contracts is between 17.44k and 22.64k. The number of daily active contracts is between 22.35k and 29.33k.

Fee & Gas in Selected Week

User activity has been analyzed in terms of number of transactions and number of users as well as TPH, TPM and TPS.

For example, in the default week , it can be seen by default that the number of daily transactions is between 28.54K and 50.39K.

The average transaction in one hour for each day is between 12.32k and 15.17k.

Staking in Selected Week

The number of Stakers, the number of stakes, and the staked and unstaked volume are given for the selected week.

For the default week, overall and daily values are specified.

The number of stakes in the daily chart fluctuates between 474 and 784 and for unstakes it fluctuates between 105 and 232.

The number of users who stake daily is between 274 and 328, and the number of users who unstake is between 89 and 152.

The result of subtracting the unstaked volume from the staked volume is -1.2M on Dec 16 and 518K on Dec 20.

Swap in Selected Week

In the default week, the number of daily swaps is between 1444 and 3393.

The number of users is between 242 and 326.

The swapped volume is between 1.18M and 3.49M.

The average volume varies between 487 and 994.

The total number of swaps, swappers, number of platforms and USD volume are listed in "Single Number Charts".

Performance in Selected Week

Network performance shows how many transactions were successful and how many failed. The success rate of the transaction varies between 74% and 95%.

NFT Sales in Selected Week

Conclusions

As can be seen, the NEAR network has performed well and there is not much difference between the days of the week and the fluctuations are reasonable.

Successful transactions also do not have an unusual percentage.

So it can be said that the network works well and is healthy.

Reports like this are important for the team as well as the users, because if the users have any concerns, it becomes clear and the team also works to improve the ecosystem as much as possible.

Information and Contacts

Thanks for reading. I shared this dashboard on my Twitter. You can share your insight with me :)

Discord ID: Elprognerd#8324