NEAR Performance

    Q5. How does NEAR stock up to other L1s in terms of speed and performance? How fast is NEAR, and compare it with other blockchain speeds in terms of transactions per minute and percentage of transactions that fail. 

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    NEAR

    Ethereum

    Solana

    Polygon

    According to charts above charted for comparing that how fast is Near to other L1s we can get following results :

    • Number of transactions over time : 2 major uptrends can be seen, first one ends on Jan 16, 2022 with 1.77M transactions and second one ends on May 10, 2022 with 1.52M transactions.

    • Number of transactions per minute over time : 2 major uptrends can be seen, first one ends on Jan 16, 2022 with 1,230 transactions per minute and second one ends on May 10, 2022 with 1,060 transactions per minute.

    • Percentage of failed transactions over time : 1 major uptrends can be seen that ends on May 10, 2022 with 54% of transactions failure

      \n Seems like during UST de peg market crash of May, failed transactions of NEAR increasead significantly and more than half of transactions had been faild on May 10, 2022.

    According to charts above charted for comparing that how fast is Near to other L1s we can get following results :

    • Number of transactions over time : 2 major uptrends can be seen, first one ends on Jan 4, 2018 with 1.34M transactions and second one ends on May 9, 2022 with 1.71M transactions.

    • Number of transactions per minute over time : 2 major uptrends can be seen, first one ends on Jan 4, 2018 with 937 transactions per minute and second one ends on May 10, 2022 with 1,192 transactions per minute.

    • Percentage of failed transactions over time : 2 major peeks can be seen first one on Oct 19, 2016 with 41% of transactions failure and second one on Oct 28, 2017 with 26% of transactions failure

      \n Seems like UST de peg market crash of May, did not cause any major increas of percentage of failed transactions of Ethereum

    According to charts above charted for comparing that how fast is Near to other L1s we can get following results :

    • Number of transactions over time : major trend is downtrend until Apr 9, 2022 then trend changes to uptrend.

    • Number of transactions per minute over time : major trend is downtrend until Apr 8, 2022 then trend changes to uptrend.

    • Percentage of failed transactions over time : we can see high failure percentages on solana’s Percentage of failed transactions chart specially on May 12 that rose up to 56% even higher than NEAR’s maximum Percentage of failed transactions on May.

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    According to charts above charted for comparing that how fast is Near to other L1s we can get following results :

    • Number of transactions over time : major trend is downtrend with some corrections

    • Number of transactions per minute over time : major trend is downtrend with some corrections

    • Percentage of failed transactions over time : major trend is downtrend with some corrections on Jun 13 and 30 of 2022 and Jul 14, 2022 that peeked with 6.9 % of failed transactions of Polygon, though ATH of failed transactions of Polygon happened on Jun 13, 2022 with 8.5% .

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    Review

    1-As charted on NEAR section as explaind below we can see how has number of transactions and umber of transactions per minute of NEAR performed against other L1s :

    • NEAR vs Ethereum : in both sections Ethereum has higher numbers than NEAR but the differences is not that high.

    • NEAR vs Solana : in Solana’s worst day it has almost 15 times of transactions and transactions per minute compared to NEAR’s best day. so we can say that in this section NEAR is way behind Solana.

    • NEAR vs Polygon : Polygon mostly has twice of number of transactions and number of transactions per minute of NEAR over time.

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    2-As charted on NEAR section as explaind below we can see that percentage of faild transactions of NEAR has higher numbers against other L1s :

    • NEAR vs Ethereum : Ethereum’s percentage of faild transactions mostly has been between 2%-8% in last few years and on May 10, 2022 rose up to 6% but NEAR’s percentage of faild transactions at that time was 54% that shows the diffrences between these two.
    • NEAR vs Solana : Both has high percentages of faild transactions and even worse there were several chain halt of solana in 2022.
    • NEAR vs Polygon : Polygon’s percentage of faild transactions mostly has been between 4.5%-6.5% of calculated chart and for NEAR in 2022 was mostly higher than 10% or 20% and on previous years it has seen high numbers like 24% and 41% that has not happened on Polygon
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    Becuase of time failure of excuting query i have shown chart from May