Diving Into NEAR Data
Intro
Despite the stress on the Layer 1 narrative that was popular earlier this year, NEAR remains an intriguing topic of conversation in the Web3 space. The implosion of Terra Classic has developers and project teams looking for the next big thing, and many of them are turning their eyes to NEAR.
What does NEAR look like from a data perspective? Let’s dive in.
NEAR: The 50,000 Foot View
Simply put, NEAR is a Layer 1 blockchain designed to maximize throughput. NEAR also lays claim to carbon-neutrality, setting it apart from well-known electricity guzzlers like Ethereum and Bitcoin. NEAR is EVM-compatible via its Aurora engine, which enables transaction settlement on NEAR itself while paying a tiny fraction of the fees one would pay on Ethereum. NEAR’s sharding solution enables it to scale horizontally — it is well equipped to handle transactional demands from a flood of new users and projects.
Diving Into the Data
MetricsDAO has been working with the NEAR Data Guild to ingest blockchain data and provide user-friendly data tables. The high-level core tables form the foundation, i.e. blocks, receipts, and transaction tables. The “actions” table (what Ethereum calls “events”) and “transfers” table complement the core tables. Using these tables, analysts and investors can explore on-chain activity and track the growth of the ecosystem and its component projects.
The Metrics tables provide users with a snapshot of high-level metrics, like active wallets and daily transactions. This makes it easy for users with basic proficiency to grab valuable insights into the health of the NEAR ecosystem.
Learn More
agaperste.eth provides a glimpse of what’s already possible to do with the NEAR data. If you’re interested in following in her footsteps and getting your hands dirty with the data, check it out for free via Flipside’s Velocity tool.
Interested in learning more about NEAR? MetricsDAO has done a deep dive!
Conclusion
The NEAR ecosystem has been a player in Web3 for several years and has gained new attention as the Layer 1 narrative continues to unfold. Challenging market conditions have caused the market to look for a battle-tested solution whose utility will increase as Ethereum 2.0 approaches.
NEAR offers one intriguing possibility for developers and analysts who are interested in a scalable and sustainable solution. Aurora, with 100+ projects already built on it & many more on the way, is leading the charge to empower teams looking for an ecosystem to build in. If you’re interested in NEAR, the Rainbow Bridge enables transferring assets and ERC-20 tokens to and from the NEAR ecosystem.
Lastly, Flipside bounties that pay NEAR tokens for on-chain analysis and tooling are coming soon™. The future for NEAR is bright and we are excited to help prospective NEAR analysts begin their data journey.
