Will NEAR leave? However, these points cannot be ignored

It appears that the NEAR ecosystem saw signs of an explosion in early 2022. Earlier, NEAR developer Illia Polosukhin announced to the public that the total daily NEAR protocol revenue exceeded 2 million. On January 4, NEAR's value surpassed $ 1.741 billion, an all-time high, and has already reached its market cap of $ 10 billion. According to data from Def llama, the daily trading volume of NEAR increased by more than 29%, while the daily trading volume of 5 Ethereum, Terra, BSC, Avalanche and SOL increased further. The conditional volume of all locked containers is low.

Additionally, according to the latest annual report from crypto venture capital Electric Capital, based on the monthly manufacturer average in 2021, NEAR has become the 6. Largest ecosystem established, with the top 5 being Ethereum, Wavecard, Cosmos, and Solana. Bitcoin. At the same time, NEAR on average more than quadrupled the average monthly production, just behind Solana's 4.9x.

Has the public channel NEAR made its debut? Can you conserve this energy? What is back support? This sentence attempts to use the appropriate length of time to provide a general definition and a useful translation for reference only.

NEAR special places:Sharding Technology and Chaîne publique Ethereum Layer2

Developers have long suffered from the high cost of Ethereum, and accepted solutions include improving chain scalability using technology sharding and Layer 2. 'Ethereum' in the outside world. with its special sharding tools. Buterin also speaks openly. NEAR is the enemy that bothers me the most. The following is a general guide to the principles of NEAR's partitioning technology.

Partitioning technology is difficult to use, complex in design, and highly secure, which extends to ETH2.0. Most of the technological processes that follow “evolutionary” public channels must operate amid state-of-the-art medical equipment to deliver temporary results. NEAR allows low-end devices to join network-based nodes without the need for high-end devices, reducing initial access.

To do this, the Doomslug (one of the outlets) approval mechanism adopted by NEAR, which can be developed quickly, without disruption, and still fast even halfway through the recognition process of the entire network. offline. Full commercial certification. At the same time, the advanced sharding technology allows the number of shards in the NEAR to change depending on the network usage. Currently, the number of changes per second that each fragment of the NEAR can support is over 1000 and has not yet been upgraded. In theory, NEAR fragments use a scaling mechanism, so 10 fragments can reach 10,000 TPS, and so on. without restrictions.

It is in line with this unique design that the NEAR team announces the key points in its 2021 annual report that the NEAR network is only using 13% of its current performance. The report also breaks down the advancement of partitioning technology into a total of four stages.

Phase 0: In November 2021, a simplified version of the Night Shadow Protocol will be released that splits the fragments of NEAR into multiple packs and completes them.

Phase 1: Earlier this year, the system introduced a new task of creating only shards and identifying a single shard, after which no luxuries were required.

Phase 2: In Q3 2022, the status and achievements will be fully distributed, and legal staff will no longer have to track each segregation.

Step 3: The network dynamically truncates and merges partitions as a program, with infinite NEAR scaling.

With the development of new sharding technologies, NEAR fuel costs are close to zero compared to Ethereum. Therefore, NEAR is a popular choice for carrying out Ethereum overflow projects such as Layer 2 public input chains such as Polygon and Arbitrum. NEAR also brought this to the $ 21.6 million financial roundabout led by a16z when the entire crypto industry fell into recession in May 2020.

$ 800 million in funding for Aurora expansion;This turn the direct pusher

Of course, Aurora, the Ethereum scaling solution built on the NEAR network, plays a key role in attracting developers. Aurora, an Ethereum-compatible virtual machine, allows developers to transfer ERC20 assets to the NEAR chain with virtually no exchange rates and no changes. As such, the developer considers it a Layer 2 extension project in NEAR. However, what makes it more cost-effective than other EVM-enabled chains is that manufacturers do not have to convert ETH to their local brand to load fuel before entering the new ecosystem. Developers do not need to hold NEAR, all they need is ETH to enjoy the benefits of the NEAR ecosystem. This is also one of the reasons for the stagnation of NEAR's price and liquidity.

However, knowing this design is undoubtedly very appealing to users and developers. The best experience across the chain Celer cBridge and the Synapse protocol, and portfolio development companies MetaMask ConsenSys and MathWallet have also recently partnered with Aurora, striving to improve ownership efficiency across and beyond. beyond user access. In October of last year, Aurora announced that it had made an initial investment of $ 12 million with the participation of Pantera Capital and others.

It is worth noting that the public channel Terra, which was successfully set up around this time, also helped shape the NEAR ecosystem. On December 22 of last year, Terra began integrating the stable UST into the NEAR and Aurora ecosystems. Users can connect Terra Treasures or any other treasury medium directly to Aurora through Allbridge. Illia Polosukhin, the founder of the affected NEAR protocol, tweeted on December 28 that the total daily income of the NEAR protocol exceeded 2 million. On January 9, Allbridge, an inter-chain link project, reported that since entering Aurora in December of last year, assets across other chains to Aurora have exceeded $ 1.1 billion. Allbridge. Data shows that Aurora's total volume exceeded $ 500 million at one point. Arguably, Terra, which is currently at Level 2 in all closed containers, has ignited the NEAR Public Fire Chain during peak hours.

NEAR provides an environment for reasonable cost efficiency and delivery on the project side of the process, but after the advancement of the crypto industry, competition in the public chain has turned into anything and everything. After the Solana, Avalanche Protocol, Terra and Fantom, NEAR has also joined the Massive Support Army. NEAR has announced that it will launch an $ 800 million green development fund by the end of October last year, of which $ 250 million will be distributed to the DeFi sector over four years.

Many people answer based on weight. The review shows that NEAR currently has 63 build projects, 110 Dapps, and 22 upgrades. Among them, the DeFi sector and the NFT sector accounted for the largest with 54 and 43 respectively. Well-known and regular representatives of the NEAR chain include the multifunctional DEX Ref Finance, Octopus Network (Octopus Network), which provides rental services distribution platforms for app chains, MetaPool, a liquid staking solution, and Mintbase, a consumer tool that creates widespread support. . NFT, Pixel NFT Pixelparty game and NFT Paras social trading platform.

By 2022, Web3 has become a fixture in the minds of most users and has become one of the biggest hubs of the future. There are many configurations of NEAR in the Layer2 app ecosystem, and it's also an idea you don't want to miss on this hotspot. On January 3, the CEO of the NEAR Foundation announced to the public that he would set the NEAR protocol as the first option to develop Web3. On January 10, the CEO of Three Arrows Capital, which is the basis of Web3 tracking, added NEAR to his Twitter profile, with only SOL, AVAX and LUNA listed. According to phase 3 of NEAR through 2022, as the use of the technology has become more mature, it can be predicted that NEAR will become a popular choice for Web3 developers.

wait a long time,But the best time has passed

Since its establishment in 2017, NEAR has focused on sharding technology to solve the problem of expanding public channels. As NEAR announced, when NEAR announced the development process in 2019, the old idea was to create a fully integrated environment. In addition, the NEAR tech team is also owned by web giants such as Google, and developers have the potential to get more sophisticated, so don't underestimate their R&D capabilities. D. Many of the concepts listed above overlap to create the incredible capacity NEAR recently announced. However, development success can be passed on to NEAR.

The first is the macro space, where the Fed is expected to raise rates and the economy has grown again with negative expectations. On January 10, Goldman Sachs predicted that the cryptocurrency market would suffer a major setback as the Federal Reserve raised the policy rate three to four times in 2022. The report showed that the total market value of the crypto Currency since Jan. 9 (last Sunday) was $ 1.95 trillion, up from over $ 287 billion or 12.7% last week, which is incredible. If the Fed raises prices more often, exchange rate fluctuations could lead to a downturn for consumers B and C, such as investors and producers. No public channel, including Ethereum, can exist on its own, and NEAR public channels are no exception.

The second is that the split race is full of differences, and Ethereum 2.0 landings can wreak havoc on all “Ethereum killers” including NEAR. Coinbase Research Director David Duong recently announced in a research report that "the 'Ethereum killer' was actually Ethereum itself (killer") was worth it after all, if you can change it with it?

Ethereum staff have moved the implementation deadline to version 2.0 until 2023. This means the Windows NEAR period is longer than one year. If NEAR has not yet developed a stable and efficient environment, it can be expected that it will be difficult to prevent Ethereum's siphon effect. Currently, the total lock size of the 214 positions in the Ethereum chain is $ 156 billion, almost double the closing size of the 2nd to 11th public chains. The difference is clear, not to mention Ethereum, since the release of 2.0, these public channels have lost their competitive advantage.

In addition, given the latency of Ethereum 2.0, NEAR is close to the potential change that would have no ecological impact. Although the NEAR ecosystem has been strong recently, according to data from DappRadar, the number of modern users operating from 5th to 10th NEAR schemes is 129-6, which is not comparable to most applications of Ethereum. , also intuitively indicates ALMOST delays in ecological development.

Plans to raise around $800 million to improve the DeFi ecosystem don't seem to have been a big deal. DappRadar data shows that the top 3 applications in the NEAR chain are not from the DeFi arena. The two main names Paras 2.0 and NEAR both belong to the NFT industry, while the third NEAR Crowd is one of the biggest in the chain. Moreover, our app has around 2000 daily active users which makes them uncertain in the industry.

There is also some skepticism that NEAR equipment is the best known. The Cryptocircle VCoin Bureau assessed in a recent public video that NEAR's improved partitioning technology may not be as promising.

First, the financial company noted that NEAR founder Illia Polosukhin announced the approval of the implementation of interconnection to improve business in April last year, but has not yet been completed. However, this agreement and many others only received a few hundred views and a few responses. Finally, like Solana, NEAR smart contracts have also been written in Rust, indicating that the two are competing for this niche developer. However, their final choice should be no further.

However, NEAR is still willing to follow Solana Rise, so it plans to organize the hackathon from the end of 2021. Thus, NEAR can finally take more than a year and strengthen its technological resilience in the region, going beyond bulls and bears. create a secure chain of ecosystem application and digital value? It will take some time to verify.