NEAR Protocol

NEAR Protocol is a blockchain platform designed to provide a fast, scalable, and developer-friendly environment for building decentralized applications (dApps). It aims to make it easy for developers to build dApps that can handle a large number of users and transactions without compromising on security.

NEAR uses a consensus mechanism called Proof of Stake (PoS) to validate transactions and secure the network. This means that instead of using large amounts of computing power to solve complex cryptographic puzzles (as is the case with Bitcoin's Proof of Work mechanism), validators stake their tokens and are chosen to validate transactions based on their stake and reputation.

NEAR also uses sharding to increase the throughput of the network. Sharding is a technique that allows the network to be divided into smaller partitions (or "shards") that can process transactions in parallel. This allows NEAR to handle a much larger number of transactions per second than traditional blockchain platforms.

Alibaba Cloud

Alibaba Cloud, also known as Aliyun, is the cloud computing arm of Alibaba Group, a multinational conglomerate based in China. Alibaba Cloud offers a wide range of cloud services and solutions, including computing power, storage, database services, networking, security, and artificial intelligence capabilities. It is one of the leading cloud service providers globally, catering to businesses of all sizes and industries. Alibaba Cloud aims to empower organizations with flexible and scalable cloud infrastructure to accelerate their digital transformation and drive innovation.

In this dashboard, we are going to revolutionize the way you analyze and understand NEAR blockchain validators.

By providing comprehensive data and powerful visualizations, you will be able to delve into key metrics such as the number of validators, seat prices, pool versions, staked NEAR tokens, total staking amounts, the impact of liquid staking solutions, and yield on NEAR staking.

Our user-friendly interface ensures that you can effortlessly navigate through the information, enabling you to make informed decisions and optimize your validator strategy for maximum efficiency and profitability.

Dashboard by Ali3N

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Seat Price

Seat Price refers to the cost or value associated with acquiring a seat or a position as a validator on the NEAR blockchain. Validators typically need to stake a certain amount of tokens as collateral to secure their position and participate in the consensus mechanism of the network. The seat price can vary and may depend on factors such as network demand, token economics, and governance rules. It is an important consideration for individuals or entities interested in becoming validators on the NEAR blockchain.

Nakamoto Coefficient

The Nakamoto coefficient is a metric used to assess the decentralization of a blockchain network. It measures the minimum number of entities or participants that collectively control a certain percentage of the total network's mining power or consensus influence. In simpler terms, it quantifies the level of concentration or distribution of mining power within a blockchain network.

For example, a Nakamoto coefficient of 1 means that a single entity or miner can control the entire network, indicating a highly centralized system. Conversely, a Nakamoto coefficient close to or equal to the total number of participants signifies a highly decentralized network, where no single entity holds significant influence over the consensus process.

Validator's Economy

In exchange for servicing the network, validators are rewarded with a target number of NEAR every epoch. The target value is computed in such a way that, on an annualized basis, it will be 4.5% of the total supply.

All transaction fees (minus the part which is allocated as the rebate for contracts) which are collected within each epoch are burned by the system. The inflationary reward is paid out to validators at the same rate regardless of the number of fees collected or burned.

Chunk-Only Validators

The Chunk-Only Producer is a more accessible role with lower hardware and token requirements. This new role will allow the network's validator number to grow, creating more opportunities to earn rewards and secure the NEAR Ecosystem.

Chunk-Only Producers are solely responsible for producing chunks (parts of the block from a shard, see Nightshade for more detail) in one shard (a partition on the network). Because Chunk-Only Producers only need to validate one shard, they can run the validator node on a 8-Core CPU, with 16GB of RAM, and 500 GB SSD of storage.

Like Validators, Chunk-Only Producers will receive, at minimum, 4.5% annual rewards. If less than 100% of the tokens on the network is staked, Chunk-Only Producers stand to earn even more annual rewards. For more details about the Validator’s economics, please check out NEAR’s Economics Explained. (Read More)