NEAR Protocol is a proof-of-stake public blockchain with smart contract capability that aims to act as a community-managed cloud computing platform.  It provides a platform on which developers can build decentralized applications (dapps).

Each week, the NEAR Foundation publishes publish data to help the NEAR community understand the health of the ecosystem as part of their Transparency Report.

One of the main aspects to consider for these type of L1 blockchains is the competence. Users are constantly choosing for the best network to act and to use considering several aspects such as speed, success transactions, performance etc.

In this first chart on the left, it can be seen the daily number of transactions and the daily transactions per minute (TPM) on Near network.

Regarding the number of daily transactions, it can be seen how it oscillated from 300k to 400k during the past month. However, the average number seems to be decreased a little bit during the initials of November.

In terms of TPM, something similar occurred. In this case, the number ranged from 230 TPM to 375, being the highest numbers during the first evaluated days.

In terms of failed transactions, I have analyzed first the number of daily failed and succeeded trasnactions on Near. The number of succeeded trasnactions has been constant and higher than failed transactions. Around 300k succeeded transactions were executed each day while less than 100k failed transactions was performed on the network.

Looking at the percentages, we can see how the percentage of failed transactions on Near only surpassed the 20% on a single day. During the rest of the days, the percentage was lower than 20. Besides, the percentage of failed transactions seems to be decreasing over the past days.

Overview

Transactions activity

One of the useful metrics to see if the network is healthy used is the amount of transactions being carried out by users. So, the next metric we are gonna analyze is the daily number of transactions.

New and active Near addresses

The most important metric for transparency is the activity on the network in terms of users usage. So, the first metric to be analyzed are the new and active users over the past weeks on Near.

Used Gas and Gas Fee

The amount a user paid in fees for each transaction is important to the developemtn and success of a network. So, if the network congestion increase and the fees started to increase, it will be a moment when users started to do less transactions and the activity on the network will decrease, so its important to evaluate as well not only the gas price but also the amount of fees paid per transactions.

In the first graph, we can see how it seems that there is one weekly day when more contracts are deployed. It seems that the pattern is similar over weeks and every 7 days the number of new contracts increase from around 20 to around 30ies.

On the other hand, the number of active smart contracts seems to be stable oscillating around 500-600 daily over time.

The current top 5 new contracts most used using number of transactions are shown on the left image.

New and active contracts on Near

The final metric to take into account is the amount of new and active contracts on the ecosystem. If the amount of new contracts increase, it would say that the network is growing and then, in expansion. So, its important to calculate this metric as well as the active contracts right now to see if the ecosystem is consistent.

As it can be seen, the gas paid has been decreased over the past week, but the gas price remained stable, which is good. As well, the amount paid in fees over time has been decreasing chaing from 250k to 150k in NEAR. It can be seen as well how the average transaction fee paid has remained stable around 0.0016 NEAR. However, there are some days where the transaction fee has been higher at 0.002 levels while other lowers at 0.0014 NEAR.

In this first metric, we can see how the amount of new users remained partially stable, it has not decreased so much so its good for the network. As well, we can see the amount of different actions users are doing on the network. So, its bein shared between different type fo transactions.

In the image below, it can be seen the number of active users over time that is also remained stable above 50k daily.