What if I told you @NEARProtocol is almost guaranteed to be next big protocol we'll be focusing on next?
Anon if you're reading this, you're early.
𧡠Let me give you some cold hard facts on why you should pay attention to the Near future.
#NEAR #NEARProtocol $NEAR
Anon if you're reading this, you're early.
𧡠Let me give you some cold hard facts on why you should pay attention to the Near future.
#NEAR #NEARProtocol $NEAR
@NEARProtocol 1/ THE TEAM
Near's team is probably one of the most overlooked when it comes to credentials.
Most of us see the team as 'just another team' building a blockchain project.
In fact, I really don't see any other protocol coming close..
Here's why..
Near's team is probably one of the most overlooked when it comes to credentials.
Most of us see the team as 'just another team' building a blockchain project.
In fact, I really don't see any other protocol coming close..
Here's why..
@NEARProtocol Co-founders
@AlexSkidanov
Director of Engineering - MemSQL
Consultant - OpenAI
2x ICPC medalist π₯2008 π₯2005
@ilblackdragon
Google Engineering Manager - Deep Learning
ICPC finalist
Both worked on @xixai_inc, a biometric identity provider backed by @ycombinator
@AlexSkidanov
Director of Engineering - MemSQL
Consultant - OpenAI
2x ICPC medalist π₯2008 π₯2005
@ilblackdragon
Google Engineering Manager - Deep Learning
ICPC finalist
Both worked on @xixai_inc, a biometric identity provider backed by @ycombinator
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator This only scratches the surface, have a look at the rest of the team.
Almost all founding members have medals (and met) in the ICPC, basically the coding olympics.
Below is a screenshot of their website in the early days
The team is STACKED, show me a team that beat's this.
Almost all founding members have medals (and met) in the ICPC, basically the coding olympics.
Below is a screenshot of their website in the early days
The team is STACKED, show me a team that beat's this.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator 2/ FUNDING π°
Near raised $50M in their first 4 months without creating anything.
They raised a total of $533.7M in funding till date.
We've also seen minimal marketing efforts. No spending on renaming stadiums/ superbowl ads.
They let their accomplishments do the talking.
Near raised $50M in their first 4 months without creating anything.
They raised a total of $533.7M in funding till date.
We've also seen minimal marketing efforts. No spending on renaming stadiums/ superbowl ads.
They let their accomplishments do the talking.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator Near also announced a $800M Ecosystem Fund last year.
More funds = more developers = more applications = increased adoption.
Even in a bear market, we see NEAR actively hiring. Large companies are laying off while they're still hiring.
Next, we move on to the fun stuff...
More funds = more developers = more applications = increased adoption.
Even in a bear market, we see NEAR actively hiring. Large companies are laying off while they're still hiring.
Next, we move on to the fun stuff...
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator 3/ THE TECH π»
The whole basis of Near is Usability First, Scalability Second. Why?
Usability creates demand, and demand creates the need for scalability, not the other way around.
An analogy from their Whitepaper: it makes no sense to create an enormous stadium that can seat
The whole basis of Near is Usability First, Scalability Second. Why?
Usability creates demand, and demand creates the need for scalability, not the other way around.
An analogy from their Whitepaper: it makes no sense to create an enormous stadium that can seat
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator 100,000 people in the middle of the desert where no one wants to go in the first place."
Ultimately in its current state, Near manages to accomplish both usability (for both user and developer) and scalability above other protocols in the industry.
We go over both aspects next:
Ultimately in its current state, Near manages to accomplish both usability (for both user and developer) and scalability above other protocols in the industry.
We go over both aspects next:
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator Usability
β Human-readable addresses β
Unlike wallet addresses on Metamask which are long strings of text, Near wallets use names like alex.near.
β Familiar Languages β
Nodes run on Web Assembly, smart contracts on Rust and AssemblyScript with more being introduced soon.
β Human-readable addresses β
Unlike wallet addresses on Metamask which are long strings of text, Near wallets use names like alex.near.
β Familiar Languages β
Nodes run on Web Assembly, smart contracts on Rust and AssemblyScript with more being introduced soon.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator β Robust Tooling β
Near was built from the ground up to support developer workflow. Devs can easily build, test and deploy.
β Developer-First Business Model β
Built-in auto monetisation for developers, 30% of rewards are directly transferred to the smart contract creator.
Near was built from the ground up to support developer workflow. Devs can easily build, test and deploy.
β Developer-First Business Model β
Built-in auto monetisation for developers, 30% of rewards are directly transferred to the smart contract creator.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator β Metamask Integration β
Near also just became the first non-EVM chain to be compatible with Metamask.
This is a big step in usability, users can skip the whole process of creating a near wallet now.
Near also just became the first non-EVM chain to be compatible with Metamask.
This is a big step in usability, users can skip the whole process of creating a near wallet now.
https://twitter.com/resdegen/status/1535595511603929088?s=20&t=nozIrf-jGV2vkbyHMVYFwQ
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator Scalability
β Nightshade Sharding β
Near's most important feature.
Before this century, CPUs only had a single core - executions of programs there are sequential.
This is what Bitcoin and Ethereum are, they execute transactions in series, causing long processing times.
β Nightshade Sharding β
Near's most important feature.
Before this century, CPUs only had a single core - executions of programs there are sequential.
This is what Bitcoin and Ethereum are, they execute transactions in series, causing long processing times.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator Now, we see mostly multi-core CPUs, different programs can be executed in parallel, decreasing processing time & increasing efficiency.
This is what sharding is.
Transactions are executed in parallel and the eventual throughput is higher than a single shard blockchain.
This is what sharding is.
Transactions are executed in parallel and the eventual throughput is higher than a single shard blockchain.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator While many blockchains claim up to thousands of TPS when it comes to assessing the speed of a network, network congestion also plays a part.
We saw this when Fantom (10,000 TPS) and Solana (50,000 TPS) experienced congestions, which still caused long waiting times.
We saw this when Fantom (10,000 TPS) and Solana (50,000 TPS) experienced congestions, which still caused long waiting times.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator High TPS is only one side to solving the scalability puzzle.
Most high TPS networks are limited by their non-sharded design, which sets an upper limit for scalability.
Nightshade is theoretically limitless (by increasing the number of shards) & can handle millions of TPS. How?
Most high TPS networks are limited by their non-sharded design, which sets an upper limit for scalability.
Nightshade is theoretically limitless (by increasing the number of shards) & can handle millions of TPS. How?
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator β Dynamic Resharding β
Depending on the load of the blockchain, the number of shards scale accordingly, splitting and merging shards based on how much resources are needed to process transactions.
This keeps their already low fees low.
Near plans to launch it. late this year
Depending on the load of the blockchain, the number of shards scale accordingly, splitting and merging shards based on how much resources are needed to process transactions.
This keeps their already low fees low.
Near plans to launch it. late this year
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator Some contrast with Polkadot: their parachains are seen as individual blockchains, while Near's shards remain on the main Near chain.
In short, every block is captured on the main blockchain, as opposed to being captured on Parachains and then sent back to the main (Relay) chain
In short, every block is captured on the main blockchain, as opposed to being captured on Parachains and then sent back to the main (Relay) chain
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator Another important mechanism used by Near is β Doomslug β.
Basically it enables validators take turns to produce blocks on the network.
This helps Near maintain its processes whenever any congestion or network stalling happens
Basically it enables validators take turns to produce blocks on the network.
This helps Near maintain its processes whenever any congestion or network stalling happens
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator Near Protocol also uses an improved staking mechanism called β Thresholded Proof of Stake (TPoS) β.
The difference?
PoW spends lots energy and is susceptible to pooling = centralization
PoS has delegates, but can be abused by high net worth users to get a majority of 'seats'
The difference?
PoW spends lots energy and is susceptible to pooling = centralization
PoS has delegates, but can be abused by high net worth users to get a majority of 'seats'
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator TPoS uses an auction method to determine the number of 'seats' allocated to each validator (or 'witness').
Basically this negates the need for pooling (where one big account gets most of the rewards) and provides a more democratic way of staking.
π medium.com/nearprotocol/tβ¦
Basically this negates the need for pooling (where one big account gets most of the rewards) and provides a more democratic way of staking.
π medium.com/nearprotocol/tβ¦
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator β Rainbow Bridge β
Near's Rainbow Bridge allows users to bridge Ethereum tokens over to Near
This was Near's first step in linking the chain to other chains, and was the predecessor to Aurora which eventually enabled Ethereum dapps to be directly deployed on the Near network
Near's Rainbow Bridge allows users to bridge Ethereum tokens over to Near
This was Near's first step in linking the chain to other chains, and was the predecessor to Aurora which eventually enabled Ethereum dapps to be directly deployed on the Near network
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator 4/ TOKEN METRICS π
Considering we're in a bear market, most tokens are experiencing a downward trend in TVL right now.
However, if you look at Near's chart, it has seen an upward trend in TVL this year
It's other competitors however, had decreasing TVLs throughout the year
Considering we're in a bear market, most tokens are experiencing a downward trend in TVL right now.
However, if you look at Near's chart, it has seen an upward trend in TVL this year
It's other competitors however, had decreasing TVLs throughout the year
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator Since the launch of the Rainbow Bridge, we have also seen an increased inflow of transactions into Near.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator 5/ NEAR PROTOCOLS
Near has a whole suite of applications under its belt, with some promising ones like Aurora and Octopus Network.
Let's go further down the rabbit hole with Near's most promising protocols...
Near has a whole suite of applications under its belt, with some promising ones like Aurora and Octopus Network.
Let's go further down the rabbit hole with Near's most promising protocols...
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator β Aurora
@auroraisnear is Near's EVM compatible protocol. Basically Ethereum devs can use the same language & code but on the Near network.
This allows them to enjoy Near's low fees and high speed.
It's TVL has been aggressively rising since launch
@auroraisnear is Near's EVM compatible protocol. Basically Ethereum devs can use the same language & code but on the Near network.
This allows them to enjoy Near's low fees and high speed.
It's TVL has been aggressively rising since launch
https://twitter.com/NEARWEEK/status/1535270213855416322
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear You can read everything on Aurora on my first thread here.
If you've liked what you're reading so far, do support by giving me a follow! :)
If you've liked what you're reading so far, do support by giving me a follow! :)
https://twitter.com/tzehingchan/status/1534944821370306560
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear β Octopus Network @oct_network
A multichain network for launching and running EVM compatible Appchains.
This is basically Polkadot's parachains but at a significantly lower cost & better security.
Unlike parachains, there are no limits to the no. of appchains on the network.
A multichain network for launching and running EVM compatible Appchains.
This is basically Polkadot's parachains but at a significantly lower cost & better security.
Unlike parachains, there are no limits to the no. of appchains on the network.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network β Ref Finance @finance_ref
The first AMM and DEX on Near. They just launched a multi-chain liquidity aggregator.
This allows users to trade between any pair on both environments without the need to manually bridge and swap
ref-finance.medium.com/introducing-muβ¦
The first AMM and DEX on Near. They just launched a multi-chain liquidity aggregator.
This allows users to trade between any pair on both environments without the need to manually bridge and swap
ref-finance.medium.com/introducing-muβ¦
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network @finance_ref β Burrow @burrowcash
Near's native AMM similar to Aave/Compound .
$USN APY is 11.63%, higher than the other stables on the list π
They have a Degen mode where you can repay debt from your own deposits too LOL.
Near's native AMM similar to Aave/Compound .
$USN APY is 11.63%, higher than the other stables on the list π
They have a Degen mode where you can repay debt from your own deposits too LOL.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network @finance_ref @burrowcash β Meta Pool @meta_pool
The main liquid staking solution for $NEAR and $wNEAR tokens. APY for $NEAR is currently 9.68%
They also have a kickstarter platform Meta Yield where users can support up and coming projects.
The main liquid staking solution for $NEAR and $wNEAR tokens. APY for $NEAR is currently 9.68%
They also have a kickstarter platform Meta Yield where users can support up and coming projects.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network @finance_ref @burrowcash @meta_pool β LiNEAR Protocol @LinearProtocol
A fairly new liquid staking protocol on Near. Currently giving out 9.68% APY for $NEAR
$LiNEAR is the liquid token users get when staking $NEAR.
Its TVL is currently one third of Meta Pool.
A fairly new liquid staking protocol on Near. Currently giving out 9.68% APY for $NEAR
$LiNEAR is the liquid token users get when staking $NEAR.
Its TVL is currently one third of Meta Pool.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network @finance_ref @burrowcash @meta_pool @LinearProtocol Near Protocol is a dark horse when it comes to Layer 1s.
Their team profile is one of the best out there and is probably one of the most overlooked aspects of the protocol.
One thing I like is that they're builders who focus on building and they don't spend most of their time .
Their team profile is one of the best out there and is probably one of the most overlooked aspects of the protocol.
One thing I like is that they're builders who focus on building and they don't spend most of their time .
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network @finance_ref @burrowcash @meta_pool @LinearProtocol trolling on Twitter.
We've gone through a rough year and most of us followed many outspoken leaders in the space whose protocols eventually fell.
Maybe it's time for us to just listen to real builders for once?
Bullish on this, will be looking forward to the NEAR future β.
We've gone through a rough year and most of us followed many outspoken leaders in the space whose protocols eventually fell.
Maybe it's time for us to just listen to real builders for once?
Bullish on this, will be looking forward to the NEAR future β.
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network @finance_ref @burrowcash @meta_pool @LinearProtocol NEAR buildoorsπ οΈ
@NEARProtocol
@NEARFoundation
@ilblackdragon
@AlexSkidanov
@mariekeflament
@Cameron_Dennis_
@Matt__Hussey
@dleer_defi
@janeylwang
@David___Mo
@mnaeraxr
@BowenWang18
@ChrisGhent
@YadiraBlocker
@NearScout
@keithdlt
@mecsbecs28
@ErikTrautman
@CatMcGeeCode
@ekuzyakov
@NEARProtocol
@NEARFoundation
@ilblackdragon
@AlexSkidanov
@mariekeflament
@Cameron_Dennis_
@Matt__Hussey
@dleer_defi
@janeylwang
@David___Mo
@mnaeraxr
@BowenWang18
@ChrisGhent
@YadiraBlocker
@NearScout
@keithdlt
@mecsbecs28
@ErikTrautman
@CatMcGeeCode
@ekuzyakov
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network @finance_ref @burrowcash @meta_pool @LinearProtocol @NEARFoundation @mariekeflament @Cameron_Dennis_ @Matt__Hussey @dleer_defi @janeylwang @David___Mo @mnaeraxr @BowenWang18 @ChrisGhent @YadiraBlocker @NearScout @keithdlt @mecsbecs28 @ErikTrautman @CatMcGeeCode @ekuzyakov @StacyMuur
@djpangburn
@richardmuirhead
@chloethedev
@NEAR_Blockchain
@insights_near
@NEAR_daily
@NEARWEEK
@Nearians_
@Nearity_org
@NEARHub_online
@near_insider
@Nearblog_
@teamnearster
@Near_Mates
@NEARdevs
@NearHacks
@sanket_naikwadi
@Nakameowdough
@nearbigbrain
@chronear
@djpangburn
@richardmuirhead
@chloethedev
@NEAR_Blockchain
@insights_near
@NEAR_daily
@NEARWEEK
@Nearians_
@Nearity_org
@NEARHub_online
@near_insider
@Nearblog_
@teamnearster
@Near_Mates
@NEARdevs
@NearHacks
@sanket_naikwadi
@Nakameowdough
@nearbigbrain
@chronear
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network @finance_ref @burrowcash @meta_pool @LinearProtocol @NEARFoundation @mariekeflament @Cameron_Dennis_ @Matt__Hussey @dleer_defi @janeylwang @David___Mo @mnaeraxr @BowenWang18 @ChrisGhent @YadiraBlocker @NearScout @keithdlt @mecsbecs28 @ErikTrautman @CatMcGeeCode @uxisnear
@NearDevsPub
@nearnauts
@MarkoNFTart
@KokumoKongz
@NEARHolystic
@MetaNEARton
@NEARosis
@4NTSGuild
@MerchantsNear
@NEARmaverick
@AliaksandrH
@LaDevochka
@ozymandius_
@nearbigbrain
@tednaut
@NEARlowery
@waxnear
@NearGuru_
@misfiresplus
@wyafam_
@Anngummys
@ArmoredKingdom
@NearDevsPub
@nearnauts
@MarkoNFTart
@KokumoKongz
@NEARHolystic
@MetaNEARton
@NEARosis
@4NTSGuild
@MerchantsNear
@NEARmaverick
@AliaksandrH
@LaDevochka
@ozymandius_
@nearbigbrain
@tednaut
@NEARlowery
@waxnear
@NearGuru_
@misfiresplus
@wyafam_
@Anngummys
@ArmoredKingdom
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network @finance_ref @burrowcash @meta_pool @LinearProtocol @NEARFoundation @mariekeflament @Cameron_Dennis_ @Matt__Hussey @dleer_defi @janeylwang @David___Mo @mnaeraxr @BowenWang18 @ChrisGhent @YadiraBlocker @NearScout @keithdlt @mecsbecs28 @ErikTrautman @CatMcGeeCode @uxisnear @NearDevsPub @nearnauts @MarkoNFTart @KokumoKongz @NEARHolystic @MetaNEARton Aurora:
@auroraisnear
@AlexAuroraDev
@bendiken
@thefrankbraun
@dafacto
@JoshuaJBouw
@antonpaisov
@0x3bfc
@rasfies
@antonpaisov
@DannyBoca_
@CryptAnalyticss
@septengineering
@christinaschim
@inspiratibiz
@auroracommunit3
@auroraisnear
@AlexAuroraDev
@bendiken
@thefrankbraun
@dafacto
@JoshuaJBouw
@antonpaisov
@0x3bfc
@rasfies
@antonpaisov
@DannyBoca_
@CryptAnalyticss
@septengineering
@christinaschim
@inspiratibiz
@auroracommunit3
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network @finance_ref @burrowcash @meta_pool @LinearProtocol @NEARFoundation @mariekeflament @Cameron_Dennis_ @Matt__Hussey @dleer_defi @janeylwang @David___Mo @mnaeraxr @BowenWang18 @ChrisGhent @YadiraBlocker @NearScout @keithdlt @mecsbecs28 @ErikTrautman @CatMcGeeCode @uxisnear @NearDevsPub @nearnauts @MarkoNFTart Octopus Network:
@oct_network
@AaronTing8
@vivilinsv
@ArtimusLeton
@TohKelsoncy
@ZhaoweiK
@octnetworkbr
@OctopusAfrica
@OctGuild
@oct_announcer
Ref Finance:
@finance_ref
@rimberjack
@pironidi
@cudam321
@thb0301
@TylerWang_NFT
Meta Pool:
@grmfb
@bochenn
@AlejandroVBeta1
@oct_network
@AaronTing8
@vivilinsv
@ArtimusLeton
@TohKelsoncy
@ZhaoweiK
@octnetworkbr
@OctopusAfrica
@OctGuild
@oct_announcer
Ref Finance:
@finance_ref
@rimberjack
@pironidi
@cudam321
@thb0301
@TylerWang_NFT
Meta Pool:
@grmfb
@bochenn
@AlejandroVBeta1
@NEARProtocol @AlexSkidanov @ilblackdragon @xixai_inc @ycombinator @auroraisnear @oct_network @finance_ref @burrowcash @meta_pool @LinearProtocol @NEARFoundation @mariekeflament @Cameron_Dennis_ @Matt__Hussey @dleer_defi @janeylwang @David___Mo @mnaeraxr @BowenWang18 @ChrisGhent @YadiraBlocker @NearScout @keithdlt @mecsbecs28 @ErikTrautman @CatMcGeeCode @uxisnear @NearDevsPub @nearnauts @MarkoNFTart @AaronTing8 @vivilinsv @ArtimusLeton @TohKelsoncy @ZhaoweiK @octnetworkbr @OctopusAfrica @OctGuild @oct_announcer @rimberjack @pironidi @cudam321 @thb0301 @TylerWang_NFT @grmfb @bochenn @AlejandroVBeta1 This took many hours of research :')
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Like/Retweet the first tweet below to support me!
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