Popular blockchain analytics platform Dune has integrated NEAR Protocol, a fast-growing layer 1 network focusing on scalability and interoperability. Developers and crypto analysts can now access easy-to-read insights directly from the NEAR network.
Current Dune data shows that daily active users on NEAR have surged from 1 million at the beginning of the year to over 3 million as of mid-October. Meanwhile, DeFi TVL has increased from $90 million to $240 million, while stablecoin value has soared from $31 million to over $650 million during the same period.
Also, since the introduction of meta-transactions, users can execute transactions on NEAR without owning gas or tokens. Dune data shows that the number of meta transactions has increased from about 20,000 at the beginning of the year to over 4.3. million as of this writing.
Thanks to its high performance, scalability, and enhanced user experience, NEAR has seen rapid growth in 2024, becoming increasingly relevant to blockchain analysts and developers.
With the Dune integration, crypto users can track a wide range of NEAR insights, including transaction volumes, gas fees, active users, blocks, and shards.
On top of that, users can monitor activity on popular NEAR dapps, DeFi protocols, and NFT platforms.
NEAR co-founder Illia Polosukhin explained:
“The NEAR Protocol integration with Dune empowers the NEAR community with practical tools to explore and analyze data across the wide range of activities in the ecosystem. With 30+ million monthly active accounts from consumer apps to DeFi and cross-chain activity on NEAR, robust on-chain data is key for driving growth for all entrepreneurs and enabling transparency tooling for communities in the ecosystem.”
NEAR is an independent chain that is growing in popularity among Web3 developers. Although NEAR is not EVM-compatible and doesn’t directly support Ethereum-based dapps like Avalanche or Binance Smart Chain (BSC), it prioritizes blockchain interoperability through alternative methods.
NEAR stands out by employing sharding, a process that splits the network tasks into multiple parts to boost efficiency. Nodes are divided into several groups to manage transactions in parallel, which enhances scaling capabilities.
Another key aspect of NEAR is its ‘chain abstraction,’ a concept aimed at making the blockchain user experience as seamless as that of Web2 applications. The goal of the NEAR chain is to allow end users to enjoy dapps as easily as they would use regular applications without any blockchain-related complexities.
To accelerate the adoption of ‘chain abstraction,’ NEAR Foundation, the nonprofit behind the network, introduced a new feature in August 2024 called Chain Signatures, which allows users to transact across supported networks without the need to connect to a bridge. First tested in March, the feature enables users with a NEAR account to seamlessly sign transactions on all supported blockchains.
The integration of NEAR is part of Dune’s broader goal to integrate 100 blockchains in 2024. Recently, it has added Worldcoin and Polkadot, among others.
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