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.

1-Since 2022, the total number of successful transactions has been 286k.

2-total number of failed transactions has been approximately 29k(If we want to check in terms of percentage, successful transactions make up 84%, and 16% failed transactions.).

3-Since 2022, the trend of the number of transactions has been such that the number of successful transactions has decreased, but the number of failed transactions has first increased and then decreased.

4-The highest number of successful transactions was 1.6M on January 16 and the highest number of failed transactions was 836k on May 10.

*TPS =[transactions per second].

In the general form of this chart, 2 peaks can be seen. The first is equal to 1,230 on January 16 and the second is 1,060 on the May 10. It can be concluded that this increase in speed. It can be related to periods of falling market.

The highest TPS is related to January 16, so the highest number of tps total transactions on this date is 1,230

The previous stability period of 1 period was almost 1 month. After that, we see the growth of TPS in the chart. Now, 1 stability has also been established, which can have an increasing trend from now on.

In this chart, TPS of NEAR network is compared to TPS of other layer1s, such as ETH and Avelanch.

In general, it can be said that TPS of NEAR network is between TPS of ETH network and Avelanch, that is, the ETH network is in the first place, NEAR is in the second place and Avelanch is in the third place. Sometimes TPS of the NEAR network is equal to TPS of ETH or even exceeds it at some points.

On January 17th, and also May 12th, TPS of NEAR network achieved a higher speed than TPS of ETH network. Because on these dates, ETH experienced a Price correction..

NEAR

NEAR Protocol is a layer-1 blockchain that uses Nightshade, a unique sharding technology, to achieve scalability. It was launched in 2020 as a decentralized cloud infrastructure to host decentralized applications (DApps). 

NEAR offers cross-chain interoperability through the Rainbow Bridge and a layer-2 solution called Aurora. Users can bridge ERC-20 tokens and assets from the Ethereum blockchain to the NEAR Protocol network, which gives them access to higher throughput and lower transaction fees.

NEAR is the native token of the NEAR Protocol. It’s used for paying transaction and data storage fees. NEAR token holders can also stake their tokens on the NEAR wallet to receive rewards or use them to vote for governance proposals.

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Method

1-compare NEAR with other  layer1 networks in terms of speed and performance with the help of charts.

2-check the amount of successful and unsuccessful transactions of NEAR both based on daily transactions and as a percentage, and then

3-compare NEAR’s TPS with other blockchains.

Conclusion

1-amount of successful transactions in NEAR accounts for a much higher percentage than its unsuccessful transactions, which means that the performance amount of the network is high.

2-in speed , it should be said that according to the given chart, the speed scale of the NEAR network corresponds to the speed of other networks almost half of the diagram. Of course, since the approximate date of March 31, these 2 graphs have separated from each other, but their distance has been maintained at an average level.

3-the transaction speed of the NEAR network is approximately second after the ETH network, followed by AVELANCH and the others.

good luck!!