Try Quests to earn crypto
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.
\n
In the City of NEAR, the legendary Rainbow Bridge is an object of great importance to the people: a wondrous object that enables passage to and from other cities.
Once you’ve bridged to NEAR, what is a user’s first activity? Chart the protocols that users are leveraging after porting tokens through the Rainbow Bridge specifically
Introduction
The Rainbow Bridge connects the Ethereum, NEAR, and Aurora networks with each other. Aurora, the NEAR-based scalability solution for Ethereum, is responsible for creating the bridge.
The bridge can be used to transfer tokens between any of the three networks that it connects to. Bridging can include as little as one transaction, or as many as two, depending on the chosen direction. Transfers to NEAR and Aurora can take up to 10 minutes and require a single transaction. Ethereum transfers require two separate transactions and can take up to 12 hours to complete. Transfers between NEAR and Aurora are fast, need only one transaction, and cost only a few cents.
Method
In the current dashboard, I used the flipside_prod_db.mdao_near.transactions table to find the top 50 addresses that have active wallets.
Then, with those tables, I tried to count the daily transactions and fees spent by these wallets.
And finally, using the ***flipside_prod_db.mdao_near.actions_events ***actions table and data column, it finds the method name as the actions performed by those active wallets.
Conclusion
With very high expectations, an ambitious proposal, and the potential to become a true competitor to Ethereum, the future certainly looks bright for the NEAR protocol.
However, given the volatility and uncertainty of the crypto sector, much remains to be seen, both in terms of whether NEAR technology will continue to grow as demand grows, and whether crypto as a sector will enter the mainstream. If regulation hits crypto hard, or if macroeconomics leads to the devaluing of all cryptocurrencies regardless of their intended use, the coin will be affected.