How Does NEAR Work?

NEAR Protocol is a blockchain that utilizes proof-of-stake (PoS) technology. In a PoS network, every transaction is processed through a validator who is selected based on the number of tokens they stake. Cryptocurrency with a PoS system does not require mining because the network is secured by the validator and all tokens have been created since it was launched.

In addition, the NEAR Protocol holds four principles in designing its network infrastructure:

• Usability: Developers should be able to create, test and deploy contracts in an easy and familiar way to speed up the app creation process. User interaction with the application should also be made as easy and as simple as possible.
• Scalability: The platform must have unlimited scalability.
• Simplicity: The design of each component of the system should be as simple as possible to achieve its main function.
• Continuous Decentralization: Barriers to participation as validators must be kept as low as possible in order to create an inclusive ecosystem without compromising network security.

Question :

Q7. Provide your best assessment of the number of smart contracts deployed on NEAR and clearly outline your methodology (after all, contract lawyers love clearly specified terms).

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Visualize the number of new smart contracts deployed over time over a time period of your choosing. What are the top 5 new smart contracts interacted in that period of your choosing?

As shown above major trend of new smart contracts on NEAR is decreasing over time

Jan 11, 2021(277) and April 21, 2022(276) both has most numbers with just one contract difference.

The chart above clearly shows the top 5 contracts in order of popularity and the number of users using them

The best contract is aurora then its app.nearcrowd.near, v1.nearapps.near, x.paras.near and v2.ref-finance.near.

Area chart below shows daily usages of found top 5 most used smart contracts

• As shown above aurora has most volatile and has most ups and downs and has most growth
• v1.nearapps.near has been used until Feb 11, 2021 then its usage numbers is 0
• v1.nearapps.near owns record for most usages of a contract on Jan 16, 2021 with 570.836K usages
• aurora’s most usage happened on May 10, 2022 with 0.981M usages
• app.nearcrowd.near and v2.ref-finance.near has mostly steady and firm trend over time frame