Our Network: Issue #4

Updates on Cosmos, Near, The Graph, Polkadot, and Kadena.

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Note from the editor.

Welcome to Issue #4 of Our Network, a weekly newsletter where top blockchain projects and their communities share data-driven insights about their networks.

This week our contributors cover some of the premier early-stage crypto networks:

  • Cosmos

  • Near Protocol

  • The Graph

  • Polkadot

  • Kadena

And I’ve gotta say, I’ve been excited about this issue for a long time because it is my belief that there is not enough mindshare being dedicated to evaluating the health of projects early in their lifecycles. While the crypto community has developed robust frameworks to evaluate mature networks like Bitcoin and Ethereum, we really haven’t settled on solid methodologies to analyze ones that are just getting off the ground.

I’m hoping this issue kickstarts more data-driven efforts in this area.

— Spencer

Network Updates

This week our contributors cover early-stage networks:

📌 Cosmos

Contributor: Chjango Unchained, Director of Community at Cosmos

  • We've seen a slight improvement on voting power distribution from Cosmos Hub-1 to Cosmos Hub-3, the latest chain id of the Cosmos Hub. Currently, 25 of the highest stake-weighted validators hold 72.17% of the voting power compared to previously, where the top 20 validators held 79.25% of the total voting power (source).

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📌 Near Protocol

Contributor: Kendall Cole, Product Manager at Near Protocol

  • The number of contracts deployed to the Near testnet is growing steadily. There are 258 unique accounts with contracts deployed to them. As Near supports contract redeployment, 866 contract versions have been deployed to these 258 accounts.

  • There are currently more than 13 teams building smart-contract based products on Near in both Rust and TypeScript. These include Flux (prediction markets), Stardust (game marketplace and API), Snark.art (collectible art), Outplay (gaming tournaments), Close (unstoppable messaging), Zod (video transcoding), Boxscore (sports trivia), and ArTerra (fan collectibles).

  • Near Studio, the Near Protocol developer web IDE, has seen a recent uptick in the number of projects started. From January 1 to January 15, there were 774 new projects, compared to 1217 in November and December.

  • Each account in Near has a human-readable name (similar to ENS names), and there is a one-to-many relationship between accounts and keys. Accounts are created with a transaction, usually through an app or wallet. The majority of accounts were created using the Near Wallet, totaling 852 since October (sharded testnet launch). Of these, 127 were active on a monthly basis.

📌 The Graph

Contributor: Eva Beylin, Ecosystem Strategy at The Graph

📌 Polkadot

Contributor: Bill Laboon, Technical Education Lead at Web3 Foundation

  • Although the Polkadot mainnet has not yet launched, the Kusama "canary network" is running strong with at least 324 known nodes currently running. At least six other networks, totaling at least 241 known nodes, are also running their own blockchains developed with Substrate, the blockchain framework underlying Polkadot. All of these blockchains can eventually become parachains and connect to the Polkadot or Kusama relay chains.

  • Kusama token holders have already voted on 20 referenda in the on-chain governance system. Topics have ranged from as small as setting the number of validators to updating the entire runtime code. View them here.

  • Validators on the network have now produced and finalized over 650,000 blocks, containing over 104,000 transactions and over 118,000 module events (source). The number of active validators in the validator set has increased from 50 at launch to 150 now. Polkadot currently has 150 validators validating with over 2 million KSM (~USD $2,000,000) staked. There are also 120 other running validator nodes that are not part of the active validator set.

  • Although the Polkadot mainnet has not yet launched, we are actively preparing for the full Polkadot ecosystem. This includes our grant program which has given out 63 grants since inception. These grants include development tools, alternative runtimes, infrastructure tools, browser plugins, and other projects to help improve developing for, running nodes, and using distributed applications on Polkadot.

  • The Polkadot Ambassadors Program continues to grow, with 120 members currently on-boarded as Apprentices and 30 as full Ambassadors.

📌 Kadena

Contributor: Tony Pham, Head of Marketing at Kadena

  • Kadena's network computing power with parallelized and scalable Proof of Work has reached 1.3 TH/s since launch. For some context, it took Ethereum 7 months to reach this figure.


Our Network is a weekly newsletter where top blockchain projects and their communities share data-driven insights. Subscribe now to receive a crash course in on-chain metrics and crypto fundamentals, and never miss an issue.

About the editor: Spencer Noon leads investments for DTC Capital, a fundamentals-focused crypto fund. He actively tweets about on-chain metrics.