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.

Methodology

1. Get the TPM of NEAR and the other L1 chains.
2. Find the success TPM of NEAR and the other L1 chains.
3. Calculate the daily Failure Rate of NEAR and the other L1 chains.

How does NEAR stock up to other L1s in terms of speed and performance?

In this study, we will analyze NEAR from two main perspectives.

1. Compare NEAR with other blockchain speeds in terms of transactions per minute.
2. Compare NEAR with other blockchains in terms of the percentage of transactions that fail.

Perspective (1): Transaction Per Minute (TPM)

Perspective (2): Transaction Failure Rate

Conclusion

• NEAR has a TPM of around 500, peaking at more than 1000 in mid-May and then rapidly falling after that.

• TPM and user count tend to follow the same trends at first, but then diverge, especially after July.

• Solana had the highest STPM during the previous three months, averaging roughly 17k. Ethereum comes in second with 740 STPM, Flow comes in third with 410

• STPM, and NEAR comes in last with 341 STPM.

• Since June, NEAR's FR has been between 10% and 20% on a daily basis.

• Solana has the greatest FR on average (33.8 percent), followed by NEAR (20.8 percent), Flow (12 percent), and Ethereum (3.9 percent).

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The charts display the daily successful transactions per minute (STPM) of 4 chains (Solana, NEAR, Ethereum, and Flow) and the average from the last 3 months.

From the last 3 months, on average, Solana has the highest STPM at around 17k. Followed by Ethereum at 740 STPM, Flow at 410 STPM, and NEAR has the least STPM at 341.

NEAR's daily transactions per minute (TPM) and unique user count are depicted in the graph. NEAR has a TPM of roughly 500, spiking at more over 1000 in mid-May and then declining rapidly after that. Surprisingly, before June, the TPM and user count tend to follow the same trends, but after that, the trends diverge, particularly after July.

The graph depicts the success and failure of TPM, there is one interesting point when the total TPM is at its peak on May 11th, the failure TPM is also increased to almost equally with the success TPM.

On the other hand, after June, the failure TPM is only around 40 a day.

The graphs depict NEAR's daily transaction count by status (success, failure), as well as the failure rate (FR). Unfortunately, NEAR has the highest FR on May 10th at 54.7 percent, then drops to less than 10% by late May.

Since June, NEAR's FR has fluctuated between 10 and 20 percent on a daily basis.

The figures show the NEAR, Ethereum, Solana, and Flow daily failure rates, as well as the average FR for the last three months.

On average, Solana has the highest FR at 33.8 percent, followed by NEAR at 20.8 percent, Flow at 12 percent, and Ethereum, which has the lowest FR at 3.9 percent.