NEAR Performance

    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.

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    What is NEAR?

    NEAR is a usability-focused and carbon-neutral blockchain, built from the ground up to be high-performant, secure, and infinitely scalable.

    In technical terms, NEAR is a layer oneshardedproof-of-stake blockchain built with usability in mind.

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    Failed transactions

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    Method

    In this dashboard we will analyze NEAR transaction speed and compare it with other blockchains in terms of transaction per minute and failed transaction percentage.

    I have used flipside_prod_db.mdao_near.transactions table to analyze NEAR and fact_transactions table for other blockchains.

    To find transaction per minute I have divided number of transactions per day by (24 (hours) * 60 (minute)).

    Also to find NEAR transaction status I used the tx_receipt field in flipside_prod_db.mdao_near.transactions table. There is an outcome property in tx_receipt and inside it there is status property that I have used to separate failed transactions from succeeded transactions.

    The following chart shows NEAR TPS over time since September 1, 2021.

    We can see higher TPS on March, April and may 2022.

    The highest TPS was on January 16, 2022 by 20.50971.

    On the following chart I have compare transaction per minute for NEAR with Ethereum, Polygon and Binance.

    Although it’s not very clear, but we can say Bsc is

    the slowest and Polygon is the fastest.

    Based on the following chart we can conclude that Ethereum is much faster than NEAR in term of transaction per minute.

    Based on the following chart we can conclude that NEAR is faster than Avalanche in term of transaction per minute.

    Based on the following chart we can conclude that Polygon is much faster than NEAR in term of transaction per minute.

    The following chart shows number of failed and succeeded transactions per day for NEAR.

    Conclusion

    • The highest TPS for NEAR was on January 16, 2022 by 20.50971 TPS.

    • The fastest blockchain between NEAR, Ethereum, Polygon and Bsc is Polygon, then Ethereum, next NEAR and the last is BSC in term of transaction per minute.

    • Ethereum is much faster than NEAR in term of transaction per minute.

    • NEAR is faster than Avalanche in term of transaction per minute.

    • Polygon is much faster than NEAR in term of transaction per minute.

    • 13.3% of NEAR transactions have been failed in total.

    • Ethereum has the least failed transactions by 3.13% and NEAR has the most failed transactions by 13.3%.

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