NEAR Performance

    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.

    In this dashboard, we will look at the following things:

    • How does Near compare to other blockchains in terms of transactions per minute and percentage of transactions that fail.
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    The below charts show the average transactions per minute, daily number of transactions, daily number of successful transactions, successful transactions percentage, daily number of failed transactions and failed transactions percentage for Near, Solana, Polygon, Ethereum, Flow, Harmony, Osmosis, Arbitrum and Optimism respectively in the past 30 days.

    There was a large increase in failed transactions percentage of Flow and Osmosis on 1st July and 10th July respectively.

    The number of transactions on NEAR reached a peak of ~416.53K transactions on 24th June with an average of ~289 transactions per minute.

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    The below charts show the average transactions per minute, total number of transactions, total number of successful transactions, successful transactions percentage, total number of failed transactions and failed transactions percentage for Near, Solana, Polygon, Ethereum, Flow, Harmony, Osmosis, Arbitrum and Optimism respectively in the past 30 days.

    We can see that Solana is by far the best blockchain in terms of average transactions per minute but also the worst in terms of failed transactions percentage.

    In terms of failed transactions percentage, Near comes behind Arbitrum, Ethereum, Flow, Polygon, Optimism and Harmony with 18.05% failed transactions but it outperforms Solana and Osmosis.

    In terms of average transactions per minute, Near comes behind Solana, Polygon, Ethereum, Flow and Harmony with ~244 transactions per minute but it outperforms Osmosis, Arbitrum and Optimism.

    Note:

    • Flow data from 11th July 2022 onwards has been ignored due to large difference with on chain data.
    • BNB chain and Avalanche data has also not been taken due to large difference with on chain data.
    • Arbitrum Data is available from 22nd June onwards only.

    Summary:

    • Solana is by far the best blockchain in terms of average transactions per minute but also the worst in terms of failed transactions percentage.

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    • In terms of failed transactions percentage, Near comes behind Arbitrum, Ethereum, Flow, Polygon, Optimism and Harmony with 18.05% failed transactions but it outperforms Solana and Osmosis.

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    • In terms of average transactions per minute, Near comes behind Solana, Polygon, Ethereum, Flow and Harmony with ~244 transactions per minute but it outperforms Osmosis, Arbitrum and Optimism.