what is near protocol

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.

How does Near Protocol achieve those numbers?

Near Protocol’s defining feature is a technique called "sharding," designed to improve transaction speed and capacity. It involves breaking up the blockchain into sub-chains with different validators working on them, which regularly get connected to one another. Effectively, the network dodges the problem of becoming too big by cutting itself up into smaller parts.

Near Protocol is starting to implement a new version of sharding, which will turn it into what it describes as a "fully sharded" network. The innovation is "state sharding," as opposed to simply "processing sharding." Instead of simply dividing up the responsibilities of the validators, it actually divides the blockchain itself up into smaller parts. Near calls its technology "Nightshade" and began introducing it in phases in late 2021, as the transaction volume on the network increased.

Near Protocol is by no means the first network to use sharding. It has been talked about as a possible fix for Ethereum since 2013 and Ethereum-competitor Zilliqa put one version of it into practice back in 2018. But a "fully sharded" chain would break new ground.

This is why Near Protocol claims to offer “infinite scalability,” which means that the volume of transactions happening on the network can grow indefinitely without hurting its performance.

Near uses a proof-of-stake (PoS) consensus mechanism, in contrast with Ethereum’s current proof-of-work model (though it is working on transitioning to PoS through the Merge).

In proof-of-stake, bad actors are deterred from corrupting the system by a requirement to "stake" a certain volume of tokens to validate blocks. Near currently sets the number of nodes at 100 and requires a minimum threshold of 67,000 NEAR tokens in order to participate in the validation of new blocks of legitimate transactions and get rewarded with more tokens. Currently, the node with the lowest amount has over 162,000 NEAR tokens staked.

Despite its promising ideas, Near Protocol is still a long way from the biggest challenger to Ethereum. Others have been around and gathering momentum for longer: Solana, whose native token is SOL, and Polkadot, whose token is DOT, are two of the best known. The native tokens had market capitalizations of around $17.5 billion and $7.5 billion, respectively, in July 2022. Near Protocol’s native token NEAR had a little under $2.4 billion, to put it in perspective.

The NEAR token is used for the staking that underpins the validation of blocks on the network. Stakers get rewarded in the form of that token, too. The token’s all-time highest price was $20.44 in January 2022.

In addition to its speed and scalability, Near Protocol taps into the conversation around the environmental impact of the crypto sector by touting its "carbon neutrality." It partners with carbon-offsetting companies to cancel out its energy use. Additionally, proof-of-stake mechanisms tend to be less emission-heavy than their proof-of-work counterparts.

How is the NEAR token doing in 2022?

The first few months of 2022 looked very encouraging for Near Protocol. Analysts noted rapid growth in the volume of applications developed on the network and intensifying interest from major investors. The NEAR token roughly doubled in value to more than $17 between March and April. The protocol raised $400 million in funding in just the first four months of the year.

By May 2022, the outlook had started to sour for the wider crypto space. Near made a play to capitalize on the collapse of the terraUSD (UST) stablecoin by publishing an open invitation to the Terra community. It noted synergies including the fact that both networks used the same language, Rust, to write smart contracts.

But that could not protect Near from the harrowing summer that was about to hit the sector. By July, the NEAR token's value had dropped to less than $4.

what I do in this dashboard ?

as the question ask in the bunty first I read some dashboard to get knowledge about the deployed contract and I make some code and get some result.

in this dashboard first I found the total number of the contract after that I show them in the chart that divided them by day and for the better conclusion again I divided them by month after this part I found the new contract and after that found the cumulative of that and after get result found the wallet that use them and by do this act found the relation of this act and at the end I get the conclusion and make advise at the end.

this is the total number of the contract of the near after this part I divide this by day and by month as you see in the graph number is not bad but we should find that this number is real or fake after this part I analysis this.

as you see in the upper chart we see the total number of the contract and in this place we wanna understand that which one of the number are real and which one are fake so look at the chart these are the active account as you see in the y place I make the number of the transaction.

as you see in this place we wanna see that number of the transaction by the time how act and as you see in the Jan, Mar and May number are in there high place but after that in the last two month these number decrease to the less amount of transaction and the other interesting thing is that in the date 16 Sep and 25 Nov there are the most transaction

and we see that in month part the most percent is related to the Apr and the low percent are related to the Sep by 3.38%

and if we check this number in the past we see that in the past(2 month ago) the large number is related to the Apr but with the percent 17.4%

in this part I analysis the divide part for the found the number of the transaction after this part I wanna analysis the non-active account and active account.

as you see in the chart by the date 10 Apr number of the new contract decrease by the low slope after this date we can easily see that number of the new contract increase and this increase by the date May 7 have the large slope and after this time again slope is near zero and if you see the upper chart you can see that in the Apr 7 number of the transaction increase in that day and because of this the month percent of the total deployed of the contract in the upper chart increase and had about 16 % of the deployed contract.

look at upper chart very carefully.

this chart are the most important chart but what this chart wanna to say ?

in the upper chart we found the new contract that make the wallet and after that we found the number of the transaction. these are important but the important thing is that when new wallet or user make the wallet have transaction or not and if have at least one transaction we can say that that wallet are active and say that deployed but if this is not active at that time that wallet is not important to us I mean that the users are important for us or for NEAR that have transaction at the other time that user exist or not is no important for us so lets analysis the chart

as you see in the graph by the time this rate decrease it I mean that number of the user of the NEAR that have transaction decrease it mean that deployed contract decrease these are some reason that I want to analysis them in the conclusion part but if you see the chart after Jun this number decrease by the large slope and this act should analysis and solve this action, in the advise part I make some advise for better result check that part.

in this part we wanna analysis the relation that decrease of the rate are because of the usage of the near or not.

if you look at the chart carefully you can see that this decrease is not related to this. and this might be due to focusing the attention of users to just few numbers of smart contracts. and at the end I want to analysis the top 10 smart contract to see the result by the good view to understand it very well

as you see in the upper chart I found these top 10 contracts that have the large rate and if you read in the previous part you should know that these number are show the top 10 that have good rate it mean than users are more active and as you see the large number is for the aurora and after that this is for the nearcrowd and after these part I wanna analysis the top 10 by user and by number of the transaction to see that which one are logical for the analysis.

as you see in the first time I analysis the top 10 contracts by the rate that was very logical as you see in the 2 upper chart we see that this analysis are not logical because the result are not same it mean that the better analysis is for the rate that give us the better result .

conclusion

you see that in the first time I found the total number of the users and after that I found this number by day and at that chart we see that by the last 2 month number of the users decrease by the large amount and we see that in the chart there are 2 important day that number of the users increase(16 Sep, 25 Nov) and after that we see that we should found the rate of this transaction that in that part I explain what is that and in that graph we see that rate of the deployed contract decrease by very high level and in this part I wanna explain why these happen nd as you know these are just a opinion.

as you know in the past month price of the BTC decrease this can be one of the reason and after this part as you know in the past month merge of the ETH cause that most of the users go out from the ETH and this can make the high result for the near

advice

I think we can do more thing in this level but as a good result NEAR,

can make some price in the transaction for example each user that get 100 NEAR protocol give him 5 NEAR more or,

for some users that have transaction make the fee or gas low and near this act,

it can make airdrop and by act this

it can match with the other blockchain to get attention for example SOLANA or CARDANO

or by do this action it can have relation with large company like apple or samsung.

and also between this, make relation by the 1XBET that open deposit and withdraw by NEAR can help to the NEAR very much.(as you know now bet is very trend in the users and this company have admissible name in the world.)

all of this work can make the rate of the NEAR goes up but between this I think make the low fee are very easy to perform and logical