Why NEAR Protocol is so important ( Thread )

Near Protocol is the most hyped Layer 1 protocol right now. will it become the next Ethereum?

• What makes NEAR different other protocols
• The Protocols on Near

Near is not ANOTHER Layer 1 that promises to be faster and cheaper than Ethereum. This is a very common solution most projects trying to pop
why is near getting so much attention now?

1 Scaling with Dynamic Sharding

Near scales with sharding. sound is familiar?? Ethereum wants to implement it in 2023. that's why i told this is the ETH 2.0
Sharding partitions data into several pieces. then they are able to process data in parallel with each other. Dynamic sharding means it can adjust the size of the shards based on demand. that will keep fees low.

Near has the ability of scaling without limits due to its sharding technology. we will be able to see Near with a 100,000+ TPS , Enough to surpass Visa for real-world usage.

2. Interesting Technologies

1. Private shards: Enterprises (such as a hospital and other companies) can create their own private shards to keep their data more secure.

2. Doom Slug: finality can be Achieved within seconds.

3. Development Team

Alex Skidanov
https://twitter.com/AlexSkidanov
director of ENG at MEMSQL.

Illia
https://twitter.com/ilblackdragon
- Former Engineer at GOOG.

international programming competitions have been won by these team members .This could be the most talented teams in Crypto.

4. Massive War Chests

• Over $533m in funding from almost every top list Venture Capitals ( a16Z, 3 Arrows Capital, Jump, Alameda, Electric Capital, Coinbase )

• $800m Development Ecosystem Fund

They have the superpowers to attract developers to their ecosystem.Funds -> Developers -> Awesome Dapps -> Increase network usage.

**they are focusing more on developers than investors said by Illia

#*can be written with common languages such as Rust or Assembly

#*30% of transaction fees go to contract owners

near has created massive education resources to help onboard developers to Near.

5. User Friendly

near emphasize making this experience easier for normal people. and also provide an easy-to-use wallet that can be name-based (like name.near). And allows email / phone number backup.

Heading Towards to be the Most "Complete" Blockchain.

• DeFi, GameFi, & NFTs
• EVM via Aurora ( direct metamask integration soon )
• Parachains via Octopus
• It has an own Stablecoin soon ($USN)
• Massive funding and ecosystem funds

near is trying to do it all.

***Most Important Protocols on Near

1.Aurora Network
https://twitter.com/auroraisnear

Aurora is an Ethereum Layer 2 built on NEAR protocol.

• Developers can merge or fork ETH projects over to Aurora.
• It leverages the power of Near
• Transaction costs are < $.01

Aurora already has $1.15b TVL.

2. Rainbow Bridge
https://near.org/zh/bridge/

this is a Trustless bridge between Near & Ethereum. Easily bridge your Ethereum tokens to Near. The bridging process takes about 10 minutes, and they update you in real-time.

3. Octopus Network https://twitter.com/oct_network

this Allows developers to launch app chains. App chains are blockchains that used for specific apps , it allows for more customizations compared to traditional dApps. Parachains on polkaDot are expensive. averagely millions of dollar costs. Octopus fills a gap of the market for more modest app chains.

• it is Up to 100x cheaper than Polkadot parachains
• substrate-based blockchains can be Easily deployed
• Interoperability with Near, ETH, IBC.

4. REF finance
https://twitter.com/finance_ref

The main AMM of Near ecosystem - this is where the action's happening on. There are some nice farming options with this.

• The Ref-wNEAR gives multiple types of tokens. So people are building out a mini index fund of NEAR.

• The stablecoin APRs are great.

Ref finance is working as a multichain liquidity protocol to Aurora. With so many upcoming grants in the Near ecosystem , anyone can bet the Near foundation will be deploying quite a bit to Ref.

here is the in details https://ref-finance.medium.com/introducing-multi-chain-liquidity-aggregation-2441a9c5e1e8

5. Burrow cash
https://twitter.com/burrowcash

burrow is The lending and borrowing protocol on NEAR. it is like the Aave & compound of NEAR. Over $400m deposited already. Burrow could be the anchor protocol of Near for their $USN stablecoin.

here are all the details https://burrow-cash.carrd.co/