What is near protocol?

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.

Observation

You can see the daily number of new smart contracts deployed on Near since the start of 2022 in above charts.

All three graphs make it obvious that new contract deployment is decreasing.

• The date corresponding to 19 Jan saw most of the deployed new smart contracts on Near, with 104 contracts.
• With 3 contracts, July 7 saw the lowest number of new smart contracts deployed on Near.
• Also, about 6.67K new contracts deployed on the Near network since the beginning of 2022.

How could the NEAR ecosystem attract more developers and deployments?

Grants and incentives are, in my opinion, the most significant power an ecosystem can employ to motivate developers.

To expand the ecosystem and attract developers, the NEAR foundation conducted a number of grants and incentive programs. Additionally, NEAR blockchain offers a combination of award incentives and a high-tech core blockchain to meet all the needs of developers. As seen by the current situation, the price of NEAR is declining, but builders are still active, and new contracts are being deployed in the NEAR ecosystem every day.

Smart contracts

Contracts are a set of functions that can read or alter the state of the NEAR Network. They are executed on the NEAR Virtual Machine (VM).

In NEAR, we have only one transaction type, but the transaction itself may have different actions included but we will focus on the two of them in this dashboard:

• DeployContract - deploy a smart contract to a given account. An important thing to remember - one account can hold only one contract, so the contract is uniquely identified by the account name. If we issue this transaction to an account which already has a deployed contract, a contract update will be triggered.
• FunctionCall - the most important action on the blockchain, it allows us to call a function of a smart contract.

Deploying Smart Contracts

There is a testnet where we can run our local network and a mainnet, similar to the NEAR Platform. The status of the smart contract is determined by the type of network on which it is placed and if we want to call it from the same network, we must double-check our setup while deploying, testing, and calling it.

Why build Smart Contracts on NEAR Protocol?

NEAR has a robust and progressive User Experience (UX) for dApp users on the DeFi platform. It is environmentally friendly, emerging as one of the best digital market ecosystems. The sharding mechanism used by the NEAR ecosystem enables smooth data retrieval and also facilitates dApp scaling on the DeFi platforms.

Method of this dashboard

We will aim to concentrate on NEAR contract deployment to answer the below questions:

What factors do you think might influence the number of contracts deployed? How might NEAR boost the number of developers and deployments within its ecosystem?

The "near.core.fact_actions_events" "near.core.fact_actions_events_function_call," and "near.core.fact_transactions" tables will be used.

In the "near.core.fact_actions_events" table, we will filter the action name = "DeployContract" and in the "near.core.fact_actions_events_function_call" table, method name = "new" to find newly deployed smart contracts.

 

Observation

In the charts above, you can see that the contract with the highest usage since the beginning of 2022 is Aurora, but if you look at the top contracts per day, you can see that the contract with the highest usage in the recent days is Sweat.

Conclusion

• This year, there has been a noticeable decline in the deployment of new contracts, but there was also a notable increase in new contracts in April.
• The Sweat platform, which just entered the market, recently had the highest transactions.
• But, In the case of the total transactions since 2022, Aurora was the most popular one.