INTRODUCTION

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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Blockchains like NEAR and Ethereum offer another layer of functionality that enables programs to run on the blockchain known as smart contracts.​

NEAR Protocol was designed with a best-of-breed approach in mind. It focuses on fixing the bottlenecks of the earlier blockchains while also enhancing the user experience to enable broader adoption of blockchain technology by existing Web2 users and developers. NEAR is a sharded Proof of Stake (POS) blockchain.

What is decentralization?

In blockchain, decentralization refers to the transfer of control and decision-making from a centralized entity (individual, organization, or group thereof) to a distributed network. Decentralized networks strive to reduce the level of trust that participants must place in one another, and deter their ability to exert authority or control over one another in ways that degrade the functionality of the network.

WHAT IS STAKING

Staking is a way of earning rewards for holding certain cryptocurrencies

The NEAR network is decentralized, meaning that multiple people collaborate in order to keep it safe. We call such people validators.

In order to make sure that all the transactions in the network are valid, i.e. that nobody is trying to steal money, the validators follow a specific consensus mechanism.

Currently, there are a few well-known consensus mechanisms to keep a blockchain working correctly and resistant to attacks. NEAR Protocol uses a version of Proof-of-Stake, particularly Thresholded Proof of Stake.

ADVANTAGES OF STAKING

Many long-term crypto holders look at staking as a way of making their assets work for them by generating rewards, rather than collecting dust in their crypto wallets.

Staking has the added benefit of contributing to the security and efficiency of the blockchain projects you support. By staking some of your funds, you make the blockchain more resistant to attacks and strengthen its ability to process transactions.

METHODOLOGY

In this dashboard, we will try to get deep into NEAR Protocol in terms of decentralization to find the information the Foundation should provide in its transparency reports.

• We will analyze the number of validators, their power distribution, and staking and unstaking actions.
• Moreover, we will check the block production activity on the NEAR protocol.
• Furthermore, we will review the distribution of $NEAR holders by their balance over time.
• Finally, we will check the evaluation of the Nakamoto Coefficient on the NEAR protocol.

OBSERVATION/FINDINGS

• Since September the active stake pools on Near have changed from 60 to 110
• The average size of NEAR stake pools have been declined with time
• The median Near stake pool has 3.2 Million Near in it.
• The top 8 Stake Pools make up around 33% of the total stake

NEAR NAKAMOTO COEFFICIENT

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Observations/FINDINGS

We can conclude that in the past years Nakamoto coefficient of NEAR was between 7 & 9 But pesently there is a jump in the coefficient of Nakamoto.

OBSERVATION/FINDINGS

We can anaylse that In terms of volume users holding over 1 million NEAR make up 3% of the transfers, but 31.5% of the transfer volume on the chain Users holding betweenUsers holding between 10 and 100 NEAR make about 66% of all NEAR transactions and 33% of transaction Users holding between volume 10 and 100 NEAR tokens are the most active group of users in terms of users and transaction volume. Wallets with over 1 million near make up around 40% of all transactions on the chain.

CONCLUSION

IN THIS DASHBOARD I have tried to cover these sections

1.Near Stake Pool Size

2.Near Nakamoto coefficient

3.NEAR holding distribution

4.Holder group Transactions

OBSERVATION/FINDINGS ON STAKED POOL SIZE

• Since September the active stake pools on Near have changed from 60 to 110

• The average size of NEAR stake pools have been declined with time

• The median Near stake pool has 3.2 Million Near in it.

• The top 8 Stake Pools make up around 33% of the total stake

• Observations/FINDINGS ON NAKAMOTO COEFFICIENT

  We can conclude that in the past years Nakamoto coefficient of NEAR was between 7 & 9 But pesently there is a jump in the coefficient of Nakamoto

  OBSERVATION/FINDINGS ON NEAR HOLDING DISTRTIBUTION & TRANSACTION

  We can anaylse that In terms of volume users holding over 1 million NEAR make up 3% of the transfers, but 31.5% of the transfer volume on the chain Users holding betweenUsers holding between 10 and 100 NEAR make about 66% of all NEAR transactions and 33% of transaction Users holding between volume 10 and 100 NEAR tokens are the most active group of users in terms of users and transaction volume. Wallets with over 1 million near make up around 40% of all transactions on the chain

  .A SPECIAL THANKS AND CREDITS TO mrpirdavari .I have got inspiration  from him in creating this dahboard.

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