NEAR vs BSC vs Ethereum - Failed/Success Tx

• The chart on the right shows the rate of transaction failure on NEAR which is quite impressive. We can estimate failure rate to be about 1%.
• Ethreum failed transactions is obviously higher than that of NEAR with an estimation of about 5%.
• BSC also seems to record a higher transaction failure rate than NEAR especially days of higher transaction count which is likely to be as a result of network congestion.

NEAR is a layer1 blockchain that is known for low fees and progressive user experience which includes faster transaction times. We want to know how the NEAR network compares to other layer 1s with respect to transactions processed per minute, and the ratio of failed to successful transactions.

First, let’s take a look at the transactions per minute across NEAR, Algorand, Ethereum, THORchain, BSC, and Harmony over the past 30 days. At first gland, NEAR numbers look decent but we can see larger bands from Algorand, BSC, and Ethereum.

On the left here, you observe a bar chart showing the average transactions per minute across the 7 chains (30 days). NEAR sits at 250tpm with Algorand, Ethereum, and Harmony all sitting much higher.

With the data obtained above, it is fair to conclude that NEAR is not as fast as l1’s like Algorand, Harmony, and Ethereum but is able to maintain a very low transaction failure rate which beats all other l1’s.