Thread by @thedefimetro

NEAR Protocol (Overhyped or Undervalued?)

Here I'll be discussing some facts & thesis around #NEAR Ecosystem

Contents ↓↓↓
• What is @NEARProtocol?
• NEAR Protocol as ETH 2.0 Killer?
• How Fast is it?
• How is NEAR different?
• NEAR Ecosystem MCAP

Follow 🧵

• What is NEAR Token?
• How to Earn with NEAR
• How many validators are there in NEAR Ecosystem currently?
• Reasons behind NEAR recent bullish movement 📈
• is NEAR Token a good investment?
• Catching up with the latest updates around NEAR Ecosystem.

Now let's dive in 🏊

🔸 What is NEAR Protocol?
NEAR is a Layer 1 blockchain that uses sharding tech to achieve scalability. It adopts the Proof of Stake (PoS) consensus mechanism to secure its network.

NEAR competes with other smart contract-enabled blockchains like Ethereum, EOS, and Polkadot.

🔸 is NEAR Protocol an Ethereum-killer?
#Ethereum functions similarly to NEAR Protocol.

•However, the main weak point of Ethereum is the "scalability" issue; its processing time becomes slower as the network grows.

Why?

•Because Ethereum uses the system called Proof-of-work, same as #Bitcoin, which requires a tremendous amount of electricity and processing power from the network, but ironically could not perform well enough.

That is where #NEAR Protocol aims to overcome 👀

And How?
• By using the system called "proof-of-stake"

Although, Ethereum also has a trick up its sleeve, called Ethereum 2.0, that will adopt a proof-of-stake system as well as introducing a variety of new features.

🔸How fast is NEAR Protocol?

• NEAR can handle up to 100,000 transactions per second (tps).

• Reaches transaction finality almost immediately owing to a 1-second block cadence.

🔸How is NEAR different?

Here I'll discuss few Unique features of Near Protocol:

1. Nightshade Sharding
Nightshade is the core technology of the NEAR blockchain.

→It is a sharding technology for processing data more efficiently.

• What does sharding means 🤔
Sharding refers to splitting the work of processing transactions across many validator nodes.

This enable network's capacity to grow even as more nodes join. 🚀🚀

2. Rainbow Bridge
Rainbow Bridge is fully permissionless and decentralized application on NEAR that allows users to transfer ERC-20 tokens, stablecoins, wrapped tokens, and even NFTs between the Ethereum and NEAR blockchains.

3. Aurora
Aurora Engine is an Ethereum Virtual Machine (EVM) on the NEAR Protocol.

👉 It aims to help developers expand their apps on an Ethereum-compatible platform that offers low transaction costs for their users.

• According to NEAR, @auroraisnear is able to host thousands of transactions per second, with only approximately 2 seconds of block confirmation time.

🔸 What is NEAR Ecosystem current Market Capitalization?

Currently around $175 billion.
@coingecko & @CoinMarketCap gets you covered for an accurate info.

•Click the link below ↓↓
coingecko.com/en/categories/…

🔸 What is NEAR Token?
@NEARProtocol (NEAR) is the native token of the NEAR ecosystem. It’s an ERC-20 token with a max supply of 1 billion.

#NEAR can be used for paying transaction and storage fees on the network.

🔸 How to Earn with NEAR?
Stake, Stake & Stake!

Stake NEAR to run validating nodes for rewards that amount to 4.5% of the total NEAR supply.

🔸 Don't know how to stake?

•Click the NEAR official medium article link below for comprehensive details:

link.medium.com/LuRAkCu7epb

🔸How many validators are there in NEAR Ecosystem ATM?

💯 validators 💪🏻

The NEAR Network is now secured by 100 validators.

🔸What are the reasons behind NEAR recent bullish movement 📈?

• NEAR raise $150 million in funding round.

• Aurora cross-chain bridge

• Ecosystem expansion

The expanding developer community, combined with the release of a cross-chain bridge, has led to the expansion of NEAR ecosystem with continues to grow and attract new projects.

🔸is NEAR Token a good investment?
This is a good question that requires "Due Diligence"

I don't give financial advises, opinions are my own.

I strongly recommend you to #DYOR & i believe the little facts & insights have given out "freely" in this thread 🧵 would help you out!

However, here are is my view 👀

• If you're an investor looking to diversify into other #Layer1 networks, NEAR may be a great investment for you.

• For investors looking to make high returns in a short period, #NEAR may not be the best investment for you.

🔸 Are we still early?

A number of developers building on NEAR will launch their projects in 2022.

•Bringing many more:

#DeFi
#NFT
#Gaming
#Metaverse, and other exciting and cutting projects to the #NEAR ecosystem.

🔸 How do i catch up with latest updates & trends around NEAR Ecosystem?

Follow:
@NEAR_daily & @insights_near

Turn ON Your 🔔 so you won't miss out for anything!

• Hands on the Desk for today 🙇

Found this thread helpful/insightful?
That's a bit ✍🏻 job i released for free..

The only form of gratitude needed from you is to Retweet this 🙏🏼
Let's Get more users onboard & make it Interactive!

Im always open to questions & comments.🤝🏻