NEAR Gas Guzzlers
What contracts are users spending the most gas on to use? How has this changed over the past week? Past month?
Introduction
This dashboard looks into the gas spent on the NEAR network. I will investigate how many daily transactions users have conducted in the past week as well as the past month, and how that compares to the total gas spent for the top 15 contracts. I will also dive into why these contacts have used up the most gas - what it was that attracted users to use these specific contracts → let’s dig in!
Key points:
- In the past week, users have conducted quite a lot of transactions in total - we can see that the biggest number of transactions have been made on Aurora.
- This is also evident when we look at the daily gas spent - users have spent the most on Aurora transactions this past week, which accounted for over 75% of the total gas used!
- It is quite interesting to see that the total number of transactions dropped a bit in the second half of the week - which had a big impact on the total gas spent. We can see that gas spent has decreased a lot in the second part of the week, yet Aurora is still the winner!
- The average gas spent per transaction tells us that zoomland’s transactions are the most expensive - as users spent the most gas per each transaction there on average, in this past week.
Key points:
- Aurora had the most transactions out of all of these contracts in the past month - we can see that not much has changed here.
- The most gas in total has been spent by Aurorian users, and it is quite interesting to see the massive spike in the daily gas spent from July 15th to July 21st. We can see the gas spent on Aurora increasing from 4.5M NEAR to over 11M on July 18th - this is more than a 2x increase!
- The average gas used per transaction was the highest for
client bridge
in the first part of the month, and then Zoomland took over with the most expensive transactions.
Why is Aurora so successful?
Aurora provides a number of enhancements for developers:
- Aurora fees are up to 1,000x lower than Ethereum’s. For example, the cost of transferring an ERC-20 token is below $0.01, while for Ethereum (at 50 Gwei and an ETH price of $3,000), it’s around $5.40 - this is the first reason why we can see so many transactions in the past month on Aurora!
- Aurora is able to host thousands of transactions per second, representing an increase of 50x compared to Ethereum 1.0.
- Aurora transaction finality inherits from the underlying NEAR Protocol, i.e. two NEAR blocks, or approximately two seconds — substantially lower even than a single block confirmation time of 13 seconds in Ethereum (which is not enough for transaction finality). Also, the fast finality of NEAR blockchain reduces significantly the risk of front-running attacks.
- Ecosystem growth on Aurora is future-proof: the sharding approach of the underlying NEAR Protocol provides for horizontal EVM scaling, with asynchronous communication between multiple Aurora shards.
- Aurora offers a greener option for Ethereum users: full, uncompromising Ethereum compatibility on top of the decentralised and climate-neutral Proof-of-Stake L1 NEAR Protocol.
- Aurora solves the current and future computational challenges of the Ethereum ecosystem, while preserving the existing engineering investment in both smart contracts and front-end code.
These are only some of the reasons behind why Aurora has seen so many transactions and was also the winner in terms of the total gas spent by NEAR users - we can see that it is clearly a successful project!
Conclusion
This dashboard has investigated what contracts users are spending the most gas on to use, in the past week as well as the past month. We have seen that the biggest number of transactions and the most gas used occurred in Aurora - which seems to be liked a lot by NEAR’s users. I have done some research to see what makes it a successful platform, and we have seen that there are many reasons as to why it attracted so many users!