As part of the Foundation’s commitment to transparency, each week it will publish data to help the NEAR community understand the health of the ecosystem. 

This will be on top of the quarterly reports. You can find the Quarterly Transparency Reports here. 

The following NEAR Weekly On Chain Data Report is the first of 2023. The final On-Chain Data Report of 2022 can be found here. 

The Importance of Transparency

Transparency has always been one of NEAR Foundation’s core beliefs. Openness to the community, investors, builders, and creators is one of the core tenets of being a Web3 project. 

In recent months, in response to community frustration, the Foundation has endeavored to do more. This NEAR Weekly On-Chain Data Report is just one of the ways in which the Foundation is being more proactively transparent.  

New Accounts and Active Accounts

New Accounts are defined as new wallets created on the NEAR blockchain. In this first week of 2023 there has been an upward trend in New Accounts, with a weekly peak of 19,808 on January 2nd, before trailing off toward week’s end. There are now more than 23M NEAR accounts as of January 4th. 

The Daily Number of Active Accounts measures the number of NEAR wallets making on-chain transactions. Over the last week, Active Accounts rose from around 39,000 to o 45,236.

Historically, NEAR has seen highs of more than 100,000 active accounts. The  high for Active Accounts on any one day in Q4 of 2022 was logged on September 14, during which 183,000 accounts were active. This week’s lower though rising total could indicate a rise in activity coming out of the holiday season and into the new year.  

New Contracts and Active Contracts

Smart contracts created on NEAR are programs stored on a blockchain that run when predetermined conditions are met. The Daily Number of New Contracts is a valuable metric because it allows the NEAR community to measure the NEAR ecosystem’s health and growth. If there are more active contracts, it follows that projects are more actively engaging with the NEAR protocol. 

This week, the daily number of New Contract trended upward before falling off slightly toward week’s end. As the new year hit there were just over 10 New Contracts with a weekly high of 29 on January 2nd. 

Active Contracts measure contracts executed during a 24-hour period. This metric trended upward this past week, rising from 560 on January 1st to a high of nearly 700. 

Used Gas and Gas Fee

Gas Fees describes the cost of making transactions on the NEAR network. These are fees paid to validators for the network services they provide to the NEAR blockchain, and incentivize validators to secure the network. 

Over the last week, Used Gas on NEAR (PetaGas) was measured at a 5121 on January 1st and trended untoward 6,000 PetaGas. To learn more about Gas on NEAR, check out the NEAR White Paper. (Rises in gas used can be attributed to many factors, with a common one being increased user activity on the NEAR network.) 

In the last week, there has been a slight rise in the Gas Fee, which correlates with the rise in Used Gas. The Gas fee rose from 512 on January 1st to 585 on the 4th. 

Daily Transactions

The Daily Number of Transactions is a measure of the number of times the blockchain logged a transaction. This week’s shows an increase in the number of transactions, 281,962 on January 1st before falling to 342,492 on the 4th. 

These reports are generated each week and published on Friday.

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