NEAR Performance

    Overview

    In this dashboard we wanna compare NEAR stock up to other L1s in terms of speed and performance

    Our goal in this case :

    Show transactions per minute(TPM) and failed transactions percentage in Near,Ethereum,Solana,Flow,Bsc,Avalanch

    Need to know

    Because of huge data in tables(specially Solana) i consider last 3 month as time frame of this analyze

    Comparison of NEAR block chain to other L1s

    Technology

    Most L1s have sought to make up for what Ethereum lacks in speed and cost-effectiveness, and have different solutions to the trilemma. Cosmos focuses on interoperability, Avalanche on decentralization and Solana on DeFi. NEAR goes for a comprehensive solution to the problem and tries to deliver on multiple levels as a sharded PoS layer-1 blockchain built for usability and scalability.

    Currently, NEAR is boosting its sharding through a partnership with Octopus Network. Octopus allows developers to build specific use case chains known as app chains cross-compatible and connected to NEAR via an Octopus bridge deployed as a smart contract.

    In addition, NEAR plans to introduce dynamic re-sharding by the end of 2022, the final phase of NightShade, which will lead to scaling of network and shards as demand by users increases.

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    NEAR : able to process around 100,000 TPS

    Ethereum : 12 to 15 TPS

    Solana : around 65,000 TPS

    Flow : around 1000 TPS

    BSC : around 60 TPS

    Avalanch : able to process around 4500 TPS

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    Analyze

    I used transactions table in each chain to get average transactions per minute(TPM) for Near,Ethereum,Solana,Flow,Bsc,Avalanch also used transactions table to find out percentage of failed transactions in each chain

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    In below you can see transactions per minute for each L1 at last 3 months

    In below you can see percentage of transactions failed in each L1 at last 3 months

    Results

    • Solana has most TPS reached and also most percentage of failed transactions right now
    • In case of speed , none of others top L1 can reach Near potential because Near can handle to 100,000 transactions in one second but in our data you saw its different its because number of users and their transactions still not very high , still Near have not great marketing and still not famous like others , also we are in bear market and number of transactions goes lower
    • Really i had many transactions in Near ecosystem without any failed transactions but data show different results with my experience , 20 % percentage of failed transactions not very good and even the tx fee so low