What Is Near Protocol and How Does It Work?

• Near Protocol is a layer 1 blockchain network. It provides a platform on which developers can build decentralized applications (dapps). The most successful layer 1 blockchain is Ethereum, so protocols like Near are seen as challengers.
• The key yardsticks for layer 1 networks are transaction costs, speed and the ability to maintain those features as transaction volumes grow. These factors are the focus for layer 1s like Near to improve upon Ethereum, which has encountered issues with costs and speed over the last few years.
• Near Protocol is faster and cheaper than Ethereum. More importantly, it promises to be faster than some of the other largest challengers. When fully implemented, Near is expected to be able to process up to around 100,000 transactions per second (TPS). Ethereum’s largest rival, Solana, averages less than 3,000 transactions per second, according to its own blockchain explorer. Ethereum averages double-digit transactions per second. Bitcoin does less than 10.
• Outside the crypto sphere, an important comparison is Visa’s (V) capacity. The global payments giant processes around 7,000-8,000 TPS, based on its claim of 232.5 billion transactions over a 12-month period. Near Protocol could eclipse that, though it has not yet realized its theoretical potential as of July 2022.
• “Near has built technology to enable transactions that are fast (~1 second), quick to finality (~1-2 seconds), cheap (less than a penny), and secure,” crypto research firm Messari noted in March 2022.[1]

Conclusion

• Obviously, NEAR has a massive growth in both active and new developers. This post a good sign for the ecosystems.
• We saw there is more than 1247 new developers on NEAR at 2022
• bowenwang1996 leads the pack for the most number of open PRs with 992 and is the most active developer.
• We saw spikes in Dec 2021, Apr 2022 and Jul 2022 with around 4K new contract deployments.
• We certainly see a huge spike in starting Aug 2021 where was have consistently seen 100 devs joining every month.
• \

We can see over 1,247 new developers at NEAR in 2022.

We also see a weekly increase in the number of new developers on NEAR in 2022 compared to 2021.

Developer Activity

With Electric Capital’s release of its annual report on developer activity, the topic of “developers” is a hot topic across crypto.

Produce a rich analysis of NEAR developer activity, using metrics and definitions of your choice to answer the questions:

• How many developers are active on NEAR?
• How active are they?
• How this has changed over time? \n

Feel free to reference (and cite) the Electric Capital report to provide background, but the vast majority of your dashboard should be original work that provides a supplemental view to that report.

We can see in the adjacent graphs

On a day-to-day basis, we could see a price increase in September 2021 and then we could see a small number of contracts being executed throughout this period. We could see another jump in September 2022. We can see a further increase from November 2021 to July 2022, after which no spike is visible.

On a weekly basis, how many points will be observed in September 2020. From July 2021 we can see many spikes. Very few weekly spikes are currently seen.

On a monthly basis, we can see September and October 2022, both having spikes. From September 2021 to September 2022, we can see an increase in monthly jumps, but after that, there is no significant data. The highest contracts will be created in 2022 compared to 2022 and 2021. The year 2023 has already started, so we cannot estimate the whole year.