This Ethereum killer joins the top 20 in the world!

This is what we can call a “soft touch”! The NEAR protocol crypto has just discreetly entered the top 20 companies in the world! It must be said that NEAR Protocol had an excellent birthday 2021! In fact, the price of the cryptocurrency has been in a very important dynamic since the end of 2021. At the moment, given its capitalization of 11.8 billion dollars, NEAR Protocol is now 16y global encryption. Discover the basic principles of the NEAR protocol for cryptocurrency.

Source: Adobe / Filerina

Crypto NEAR Protocol, what is it?

The NEAR protocol ecosystem is structured but already has real strategic assets.

The people behind the NEAR protocol project

The NEAR protocol crypto has been listed on Coinmarketcap since November 2020. Its originator is Eric Trautmana businessman known to have worked on Wall Street. Alex Skidanova former software developer at Microsoft and Ilya Polosukhina former engineering director at Google, was also involved in creating the NEAR protocol.

Suffice it to say that the NEAR protocol relies on more than one strong base! Since its inception, the startup has also managed to raise more than $65.9 million through traditional fundraising. very recently, The NEAR Foundation announced on January 13, 2022 that it has raised 150 million euros To accelerate the “mass adoption of Web 3.0”.

What is the NEAR protocol?

NEAR Protocol is the third generation of blockchain specialized in Decentralized application development (or Dapps). In its philosophy, the NEAR protocol is very similar to Ethereum, Solana, Cardano, Fantom, etc. In practice, its ecosystem has not yet been developed. The blockchain uses the consensus protocol of DPoS (Proof of Stake Delegation) and achieving carbon neutrality.

The NEAR protocol blockchain has two main advantages that should boost its development and adoption:

  • Creating an application is very easy. As their website points out, it only takes “5 minutes” to build an application on the NEAR protocol.
  • Compatibility with Ethereum. Applications developed with Ethereum are compatible with the NEAR protocol thanks to its smart contract called Aurora. This is a strong argument that should appeal to people who are tired of the Ethereum blockchain because of its costs and low scalability.

To drive blockchain adoption, the NEAR protocol announced in October 2021 that it had created a file 800 million dollars to finance the development of the project. The NEAR protocol will also soon organize a file Close to the training camp. Registrations on Twitter were open until January 9, 2022.

Source: Adobe / FellowNeko

Sharing of the NEAR protocol engine

The main feature to know about the NEAR protocol is its nightshade shading. Participation is a “technology” that is also under development by Ethereum 2.0 in particular. But what is displacement?

The Three Main Criteria of a Blockchain

Before discussing the post itself, it is useful to return to the mantra regarding blockchain construction. In fact, the blockchain must be able to meet the following three criteria:

  • protection ;
  • scalability;
  • decentralization.

If this is true on paper, the reality is quite different! In fact, at the moment, blockchain cannot operate equally on these three criteria. In other words, they should Choose the criteria you want to prioritize.

For example, blockchain Solana The choice of scalability has made it somewhat detrimental to decentralization and its security, which has resulted in the network being exposed to some attacks recently. upside down, Ethereum Instead, he initially favored decentralization and security and now faces a major scalability problem. With fracking, these enmities are resolved!

What is sharing?

The principle of hashing comes to us from databases. In French, the word “fragmentation” means “explosion”. With this translation in mind, the retail philosophy is easy to understand. Concretely, the hash consists of Split the blockchain into multiple blockchain. Each of these “sub-blocks” is independent in the sense that each has its own nodes and validation tools.

Thus, sharing makes it possible to improve the above three criteria in the following way:

  • protection. At first glance, one might think that shading is not very secure because it is enough for a hacker to simply screw up some nodes to grab all the parts. To avoid this, the idea developed by Vitalik Buterin on Ethereum 2.0, for each validation, is to randomly assign nodes to a shard and then reassign them elsewhere once the work is done.
  • scalability. Each node only has the “sub-blockchain” it belongs to, and therefore has less information to manage.
  • decentralization. All information in a “fragment” can also be shared with all blockchain nodes.

With hashing, the NEAR protocol finally envisions a Scalability at 100,000 transactions per second. The NEAR protocol hash is expected to be fully implemented on the blockchain by end of 2022.

NEAR Protocol token price

To power and fund it, the ecosystem uses the NEAR token. This token grants governance rights to its users. In addition, it is possible to carry out hostage work in order to obtain an income.

Currently, the price of the NEAR token is around $19. Stay on premium offers such as:

  • + 23% over the past 7 days;
  • + 87% in the last 30 days;
  • + 63% in the last 60 days;

Suffice it to say that the NEAR token has excellent dynamism. For some, this dynamic is a bit early and leads to exaggeration of token since its ecosystem is still in its infancy. For others, it’s just a file The start of a great adventure Due to the many developments in the NEAR 2022 protocol boxes.

So, should you buy NEAR coins? Now that you know the NEAR Protocol blockchain and its NEAR token better, make your choice!

Disclaimer: This article is promotional content and does not constitute investment advice. Do your own research and only invest money you can afford to lose.

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