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. 

To compare near protocol with other L1 blockchains in case of transaction speed and percentage of failed transactions , we chose AVALANCH , ETHERUM , BINANCE SMART CHAIN and ALGORAND

we used flipside_prod_db.mdao_near.metrics_daily_transactions

table to find daily average of transaction per minute with the query bellow :

select DATE , (DAILY_TRANSACTIONS)/1440 as per_min

from flipside_prod_db.mdao_near.metrics_daily_transactions

order by 1

and we used flipside_prod_db.mdao_near.transfers table for finding the percentage of failed transactions with the code bellow :

WITH FAILED_TRANSACTINS AS ( select count(TXN_HASH) AS FAIL_NUM , 1 AS SHARE from flipside_prod_db.mdao_near.transfers where STATUS = 'FALSE'

), ALL_TRANSACTIONS AS ( SELECT (COUNT(TXN_HASH)) AS ALL_TRANSACTIONS , 1 AS SHARE FROM flipside_prod_db.mdao_near.transfers ) SELECT FAIL_NUM/ALL_TRANSACTIONS*100 AS FAILED_TRANSACTION_PERSENTAGE FROM ALL_TRANSACTIONS JOIN FAILED_TRANSACTINS ON ALL_TRANSACTIONS.SHARE=ALL_TRANSACTIONS.SHARE

The results and visualization of codes above are here :

ETHEREUM transaction per min & failed transaction percentage is here :

AVALANCHE transaction per min & failed transaction percentage is here :

We can find out from data above that :

between 3 L1 chains , near has the lowest amount of failed transaction percentage that it’s very good

it may because of it’s low transaction fee and it’s stable and it’s safe chain .

Also in case of transaction per minute NEAR had good performance Compared with other chains above.

We must consider that we are in bear market and in this situations , number of transactions become less and its not maximum network processing power.

we can see maximum network processing power of near protocol in June 2022 peak that submitted around 37k transaction per minute.

thank you

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.