District Deep Dive: Contracts Deployed
What is Near?
NEAR Protocol is a decentralized application (dApp) platform and Ethereum competitor that focuses on developer and user-friendliness. Its native NEAR tokens are used to pay for transaction fees and storage on the Near crypto platform. NEAR is a Proof-of-Stake blockchain that uses sharding technology to achieve scalability. Source
What are Smart Contracts?
Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss. They can also automate a workflow, triggering the next action when conditions are met. Source
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OBSERVATIONS
✅Aurora is the most used protocol on Near
✅The second most used protocol is Near Crowd.
✅When we look at the timeline, we see that the Aurora and Near Crowd protocols are dominant, but we see that the Token Sweat protocol has been preferred more than Aurora and Near Crowd protocols in recent months.
✅I think this rise in the Token Sweat protocol will continue in the future.
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OBSERVATIONS
The NEAR price has affected the daily settled contracts, . The most productive months for daily contracts were January and April.
The most deployed contract was on January 25.
If we look at January 8 and April 19, we can think that the increase in the number of deployed contracts will increase the number of transactions, but if we look at September 16, 2021 and November 25, 2021, we will see that the number of transactions has not increased although the number of deployed contracts has increased.
This means that the number of contracts is not the only reason for the increase in the number of transactions.
I do not think that the increase in the number of contracts distributed will have a positive effect on the price of near, there are too many variables in the background. however, the fall in the price of near has a negative impact on the number of contracts distributed
Conclusion
The fall in the price of near and the decrease in the number of contracts deployed indicate that things are not going well than they used to be, but developers are still active and new contracts and projects are joining the NEAR ecosystem every day, so the future for NEAR may be brighter than we thought. The launch of the Token Sweat protocol increased the number of transactions in September, in my opinion, the increase in the number of such initiatives will cause positive developments for near.
Thank you for looking and reading, I hope you enjoyed and found it useful ❤️