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Q5. How does NEAR stock up to other L1s in terms of speed and performance? How fast is NEAR, and compare it with other blockchain speeds in terms of transactions per minute and percentage of transactions that fail.
> NEAR Protocol is a decentralized application (dApp) platform and Ethereum competitor that focuses on developer and user-friendliness. Its native NEAR tokens are used to pay for transaction fees and storage on the Near crypto platform. NEAR is a Proof-of-Stake blockchain that uses sharding technology to achieve scalability.
First, we have a general look at the prices of this currency in the market
Price has always been an important factor
Now, in the continuation of my analysis, I will examine the two factors of speed and the percentage of successful transactions in three or four other networks and I will raise some points in each part. But the main topic of analysis in two parts will be NEAR network
In addition, for a better comparison, the tables and results are limited to a recent month
In the first part, a comparison can be made between four networks In this comparison, it can be seen that the speed of all four networks is fluctuating in a constant range, and this fluctuation is due to the variable number of transactions. As a rule, the number of transactions should be higher in the Ethereum network due to the higher number of users In recent days, we have seen a drop in the speed or the number of transactions per unit of time in the near network
The average transaction in the near network is lower than the others But there is an important issue in this regard We know that too few or too many numbers strongly affect the average, considering that on May 10, there was the highest number of transactions and also the highest amount of errors. So this day has somehow affected the network average a lot