Near Stake Pool Size

Near Nakamoto coefficient

Analysis

Near's stake pools reveal some interesting trends. Firstly, the increase in the number of active stake pools from 60 to 110 since September indicates a growing interest in the network. This suggests that more individuals and organizations are participating in staking, which is a positive sign for the network's health and decentralization. Secondly, the decline in the average size of NEAR stake pools over time is also noteworthy. This could be an indication that more smaller pools are being created, leading to a more diverse and decentralized network. This is important as it reduces the concentration of power among a few large pools and makes the network more resilient. Lastly, the median Near stake pool having 3.2 million NEAR in it, suggests that most stake pools on the Near network are relatively small, with only a few large pools that skew the average size. This further supports the conclusion that the Near network is becoming more decentralized.

Analysis

Based on the information provided, it appears that the Nakamoto coefficient of the cryptocurrency "Near" has been consistently increasing over the past year, with a range of values between 6 and 9. The Nakamoto coefficient is a measure of the level of centralization in a blockchain network, with a higher value indicating a more centralized network.It is important to note that the Nakamoto coefficient is only one metric to assess the decentralization of a blockchain network and should be considered in conjunction with other metrics such as the Gini coefficient and the Herfindahl-Hirschman index. Based on the steady increase in the Nakamoto coefficient, it can be inferred that Near's network is becoming more centralized over time. This could be due to a variety of factors such as an increase in the concentration of mining power or a decrease in the number of active nodes. It would be important to track the trend over time and compare it with other Metrics to see if the trend is confirmed. And also it's important to consider the context of the project if it was designed to be centralized from the beginning or it's an unexpected trend that needs to be addressed.

Pool Activity

Introduction:

As the world of decentralized technology continues to evolve, blockchain networks like NEAR Protocol are increasingly being viewed as challengers to the dominant player, Ethereum. NEAR has set a goal to decentralize its network by 2023, and as we approach this important milestone, it's important to take a closer look at the progress being made toward this goal. In this project, we will explore the decentralization of NEAR by creating a stylish and refined dashboard that allows viewers to assess both individual validators and validation as a whole on the network. By utilizing existing data and research on governance on NEAR, as well as incorporating features such as dropdown menus for different validators and adjustable parameters, we will be able to answer the question of whether NEAR is becoming more decentralized or less. Additionally, we will be using the Nakamoto coefficient as a way to quantify decentralization and Stake pool as a way to understand the mechanism of a decentralized network.

Methodology:

1. Data Collection: The first step in this project will be to gather data on the validators and validation on the NEAR network. This data will be sourced from existing research and data on governance on NEAR, as well as from the NEAR network itself.
2. Data Analysis: Next, we will analyze the data we have collected to identify patterns and trends. This will include looking at the distribution of validators across different regions and the distribution of stakes among them. Additionally, we will be using the Nakamoto coefficient as a way to quantify decentralization.
3. Dashboard Design: Using the data we have collected and analyzed, we will design a dashboard that effectively and clearly presents the information in a way that allows viewers to easily assess the decentralization of NEAR. The dashboard will include features such as dropdown menus for different validators and adjustable parameters, as well as visualizations such as graphs and charts to make the data easily digestible.
4. Testing: Before the dashboard is made live, it will be thoroughly tested to ensure that it is functioning correctly and that the data is accurate.
5. Deployment: Once the dashboard has been tested and is functioning correctly, it will be deployed and made available to the public.
6. Mechanism understanding: To understand the mechanism of a decentralized network we will be using Stake pool concept and its analysis.

Conclusion

In conclusion, this project aimed to explore the decentralization of the NEAR network by creating a dashboard that allows viewers to assess both individual validators and validation as a whole on the network. Through data collection, analysis, and dashboard design, we were able to identify trends and patterns in the distribution of validators and stakes among them. Additionally, we used the Nakamoto coefficient as a way to quantify decentralization and the stake pool concept to understand the mechanism of a decentralized network. The analysis of the data revealed that there is an increase in the number of active stake pools and a decline in the average size of NEAR stake pools over time, indicating a more diverse and decentralized network. However, it is also important to note that the Nakamoto coefficient showed a consistent increase over the past year, which could indicate that the network is becoming more decentralized. It is important to continue monitoring these trends over time and consider other metrics to fully understand the decentralization of the NEAR network.