Try Quests to earn FLOWBoard - NEAR Performance
Question : 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.
CALCULATING TRANSACTIONS PER SECOND - TPS
Transactions per second can be compared to the indicator “query throughput” as known in the performance tests of databases. It indicates how many transactions can be handled on a blockchain, although it is important to note that this number is purely theoretical.
It is calculated by knowing the block time, the average transaction size, and the block size.
For example, a block size of 1 MB, an average tx size of 1 kb, and a block time of 30 seconds would equate to a theoretical TPS of 33 ((1000/1)/30=33). By using this formula, the maximum TPS of the Rebellious chain can also be calculated.
- What is the average tx size?
- What is the block time?
- What is the block size?
1 kB tx size, 30 seconds block time, 1 MB block size means: (1 MB/1 kB) / 30 secs = 33 TPS
In the below chart, the percentage of failed transactions of different blockchains is calculated, compared and displayed.
The highest failure in transaction is for Solana and the lowest for Ethereum. Near also has a relatively high percentage of failures.
In the below charts, the transaction speed of different blockchains per minute (TPM) has been calculated and compared based on the above formula.
In the below charts, the transaction speed of different blockchains per second (TPS) has been calculated and compared based on the above formula.
In this comparison, the speed of Solana is the highest and the speed of Flow is the lowest. Near is not very fast compared to competitors.
