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What Is NEAR Protocol (NEAR)?

NEAR Protocol (NEAR) is a blockchain-based decentralized application platform to power the future open web and serves as a collective, a foundation, and a development platform. Users can create new coins, applications, and industries on this web without the need for a central authority to oversee the process. The platform executes apps that share a secure pool of resources; these applications use data and identities entirely controlled by users.

Conventionally, centralized cloud servers run by tech giants host most applications. As a result, data becomes vulnerable to censorship, hacking, and manipulation. On the other hand, if the cloud that hosts these applications is managed by a global community that is open to everyone, the process becomes transparent. So, users can keep high-value assets such as money, identities, and digital assets on these platforms and use them safely without the need for an intermediary or platform interference.

Interestingly, there are three main barriers to mainstream decentralized applications—a small user base, a limited ability to scale them to accommodate a large community, and security challenges. According to the whitepaper, NEAR aims to progress from traditional decentralized application platforms by overcoming these difficulties. The platform proposes to solve the problem of scalability through sharding. Before getting into the specifics of what this entails, it's necessary to understand the three primary functions of blockchain nodes: processing transactions, relaying validated transactions and completed blocks to other nodes, and storing the network's state and history. Nodes are entities that issue and validate transactions. As network congestion increases with an increasing user base, these tasks become more difficult for nodes to complete. Sharding minimizes the computational load by separating or partitioning the network into "shards." This technique requires each node only to execute code relevant to its shard. Hence, this allows shards to parallelly compute and increase the network's capacity as the number of nodes grows.

Further, the most fundamental infrastructure in the NEAR Protocol is the core platform, which comprises a cloud of community-operated nodes. Smart contracts can be deployed to this cloud. Users can use the applications they power without needing permission from a central agency. Smart contracts are just like regular contracts. However, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. Applications can securely store their data, ranging from games to digital currency, on the platform.

Introduction

analyze The specified time is in the last 90 days (By checking the address of the contracts and validator, you can monitor the bear market activity in any blockchain more than anything else)

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The charts above show the top 20 contracts. The first chart on the left is a percentage comparison between them. The bar chart on the right shows the top 20 contracts based on the most usage.

The number on the address side shows the general contract

The graphs above show the new contracts and their growth rate, as you can see, the growth rate was upward.

The next chart above on the right top 10 new smart contract daily distribution of most transactions

Daily number of smart contracts that have deployed on Near over time period of 2022 has been shown on above graph.

smart contracts increased slightly over the three weeks of January and started to fall off during crash on the market at those times.

This decrease continued until late March and another growth started from then to 3rd week of April.

From then we experienced another collapse on market which occurred on May and made number of smart contracts on Near decreased again. Since that day contracts has almost constant and steady volume.

Highest number of smart contracts during 2022 on Near blockchain is 229 which deployed on Near in April 19th.]

Below bar charts indicates the top 5 contracts of 2022 with two metrics.

Top contract of 2022 with most unique users is Analytics.nearapps by 855K number

while top contract that have interacted by most transactions number is V2.NearApps with 3.5M.

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Near Protocol is a layer 1 blockchain network. It provides a platform on which developers can build decentralized applications (dapps). The most successful layer 1 blockchain is Ethereum, so protocols like Near are seen as challengers.

The key yardsticks for layer 1 networks are transaction costs, speed and the ability to maintain those features as transaction volumes grow. These factors are the focus for layer 1s like Near to improve upon Ethereum, which has encountered issues with costs and speed over the last few years.

Near Protocol is faster and cheaper than Ethereum. More importantly, it promises to be faster than some of the other largest challengers. When fully implemented, Near is expected to be able to process up to around 100,000 transactions per second (TPS). Ethereum’s largest rival, Solana, averages less than 3,000 transactions per second, according to its own blockchain explorer. Ethereum averages double-digit transactions per second. Bitcoin does less than 10.

Outside the crypto sphere, an important comparison is Visa’s (V) capacity. The global payments giant processes around 7,000-8,000 TPS, based on its claim of 232.5 billion transactions over a 12-month period. Near Protocol could eclipse that, though it has not yet realized its theoretical potential as of July 2022.

“Near has built technology to enable transactions that are fast (~1 second), quick to finality (~1-2 seconds), cheap (less than a penny), and secure,” crypto research firm Messari noted in March 2022.

> > Conclusion > > > > By reviewing and analyzing the new smart contracts deployed on Near in the last three months, we came to the conclusion that 1328 new smart contracts were deployed on Near, of which 44.3% were related to the month of May and in three months May had the highest number of new smart contracts. Also, by examining the total number of new smart contracts in 2022, we found that this number is decreasing. Also, smart contract are among the top smart contracts in the Last 3 Month There are three apps that are being used the most and although there are many that are being used far more in one day, the consistency of usage is why they have the most users, not the highest spikes. > > > 1. The Rainbow Bridge has shown a downward trending line since the beginning of the bear market. > 2. The top used protocol on near has nearly 300k total transactions since the beginning of 2022. > 3. Due to this, in the last three months, we have seen the decline of the Kerbpeto market, and also the stagnation in the financial markets has caused the activity in Ibn Blockchain to decrease in various categories, according to the charts and the information that I got after the beginning of 2022. All activities in this blockchain are declining > > \

Analyzer

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