Audit Date: 27 September 2022
ECOSYSTEM SCORE
27 September 2022
76
ALERTS
Sep 23, 2022

Miannet explorer and testnet explorer issue resolved, and currently working fine

Sep 22, 2022

Major incident - Miannet and testnet explorer was frequently down since Sep 20, 2022

Sep 22, 2022

Major incident - Miannet and testnet explorer was frequently down on Sep 20 and Sep 21, 2022.

Sep 14, 2022

Major incident - Mainnet Explorer was down on Sep13, 2022 and Sep14, 2022 for 21 minutes, currently working fine.

Sep 06, 2022

Service is back up, Mainnet and testnet explorer is currently working fine.

Sep 02, 2022

Major incident - Testnet Explorer was frequently down since 31 Aug, 2022, currently working fine.

Sep 02, 2022

Major incident - Mainnet Explorer was frequently down since 31 Aug, 2022, currently working fine.

Aug 24, 2022

Major incident - Mainnet Explorer was frequently down since morning.

Aug 19, 2022

Testnet Explorer - Service is back up and currently working fine

Aug 18, 2022

Major incident - Tesnet Explorer seems to be down

Aug 17, 2022

Major incident - Service Explorer frequently down since Aug 16, 2022

Aug 11, 2022

Service explorer and RPC are currently working fine.

Aug 10, 2022

Service explorer was down for 1hr on Aug 09, 2022

Aug 05, 2022

Service explorer is up and currently working fine

Aug 04, 2022

Major incident - Service Explorer frequently down since Aug 03,2022

Jul 28, 2022

Service Explorer seems to be down June 29, 2022

REVIEW NOTES
Sep 23, 2022

Ecosystem score decreases due to decrease in documentaton, foundational tools and add-ons score.

Jul 06, 2022

Ecosystem Score is decreased due to unavailability of Grant Program

Jun 30, 2022

Ecosystem score Increased due to availability of Protocol Support.

Jun 30, 2022

Performance score is decreased due to error in Uptime.

Jun 22, 2022

Ecosystem Score increased due to addition of Protocol Support data

Jun 21, 2022

Foundation tools score is increased as SDKs are added

PERFORMANCE
Empty container
80
NODES

778 nodes

WRITE SPEED

1 ms

READ SPEED

N/A

GAS FEES

470,538 gwei

UP TIME

99%

PERFORMANCE MATRIX VALUE MONITORED AT
Gas Fee 470,538 gwei
Write Speed 1 ms
Uptime Percentage 99%
Node Count 778 nodes
Reddit Total Members Online 430 members
Reddit Total Members 12,300 members
Discord Total Subscribers Online 4,752 subscribers
Discord Total Subscribers 57,223 subscribers
Telegram Err 0 err
Telegram Ppm 0 ppm
Telegram Views Per Post 0 views
Telegram Total Subscribers Online 2,534 subscribers
Telegram Total Subscribers 60,193 subscribers
FOUNDATION TOOLS
Empty container
55
ESSENTIAL TOOLS
PROGRAMMING LANGUAGE SUPPORT
SDKs
DOCUMENTATION
Empty container
90
API DOCUMENTATION

Exists

90
NODE SETUP

Exists

100
SKELETON CODE

Exists

70
VALIDATOR NODES

Exists

100
GRANT PROGRAM
Empty container
50
AVAILABLE GRANT

$533M

ADD-ONS
Empty container
60
THIRD PARTY SERVICES
Empty container
66
PROTOCOL SUPPORT
Empty container
83
ADOPTION
Empty container
100
DEVELOPERS

1,671

REPOSITORIES

151

COMMUNITY
Empty container
100

Overview

One of the main features of Web 3.0 is to regulate decentralized finance (Defi). DeFi dApps need global distributed network to function, a network that focus on regulating multiple financial services like the cost, transaction speed and user compatibility. To help DeFi work on all these focus points, NEAR Protocol is another invention in the sphere of Web 3.0, designed to automate and solve the scalability issue in the blockchain industry.

With its distinctive sharding attribute, NEAR Protocol provides robust scaling solutions for all emerging startups and large-scale businesses. It has the power to process transactions at a lower cost and high speed. NEAR Protocol is one of the most user-friendly blockchains.

About NEAR Protocol

NEAR is a distributed and carbon-neutral protocol that is based on sharding and PoS consensus mechanisms. It is a 3rd generation blockchain platform that is very well capable of smart contracts and is crafted for the development of highly scalable dApps.

On average, the NEAR Protocol has the power to process 100,000 transactions per second. It is a protocol based on a community-operated cloud ecosystem for the deployment and functioning of decentralized applications on the network.

NEAR is a secure and permissionless protocol whose ecosystem is based on a new block generation scheme known as ‘Doomslug'. This protocol can also be used to cover the cost incurred while storing data and processing transactions. NEAR is used to run the validator nodes on the network in exchange for staking the cryptocurrencies.

Constitution of the NEAR Protocol

NEAR’s fundamental architecture is based on the Proof-of-Stake algorithm. It functions in a similar way to that of a centralized data storage base. For example, Amazon Web Services (AWS) works as the base layer on which all the apps are built. The most striking difference between AWS and NEAR is that NEAR works on the basis of a distributed network of computers eliminating the single point of control as AWS’s central authority.

It has the following fundamental components:

  1. NEAR token
  2. Mintbase
  3. NFT minting platform
  4. Flux protocols for developers
  5. NEAR smart contract

NEAR’s Consensus Algorithm

NEAR’s ecosystem is based on the Thresholded Proof of Stake election consensus mechanism. The fundamental idea of NEAR is to function in a deterministic way to regulate a large number of participants who maintain the network, increasing its decentralization.

NEAR Protocol functions on basis of the PoS consensus mechanism and sharding technique Nightshade to scale the network data by splitting it and letting each node store small segments of data equally throughout the network.

Key features of the NEAR Protocol

  1. Sustainable network based on PoS consensus algorithm
  2. Cost-effective and imposes a minimum gas fee
  3. User-friendly protocol with a human-readable account address
  4. A highly secure ecosystem with a thriving network of active validators
  5. Interoperable with components like EVM and Rainbow bridge
  6. Pragmatic protocol with smart contracts written in community-supported languages like Rust and Assembly

NEAR’s popular use cases

  1. Paras
  2. Mintbase
  3. Ref Finance
  4. Proximity
  5. Flux Protocol
  6. Satori
  7. Few & Far
  8. Astro
  9. Sputnik DAO
  10. Guilds

NEAR’s Founders

  1. Alexander Skidanov
  2. Illia Polosukhin