I’ve shared #NEARIsTheBOS with builders, partners, and Web3 newcomers since last month's launch. The Blockchain Operating System feature everyone is excited about is FastAuth: 5-second, one-time onboarding to a Web3 account with no crypto, no wallet, no seed phrase, no exchanges.
FastAuth is easy even if you’ve never interacted with Web3 – and even simpler than making an account on a traditional Web2 site or app. This is universal Web3 account creation that connects all your Web3 experiences. And you only have to do it once!
Onboarding has been a major barrier to entry in Web3, but now @NEARProtocol is making it easy.
Try out FastAuth for yourself, explore near.org, and share thoughts & feedback on the social feed or here on Twitter with #NEARIsTheBOS.
Talk/workshop at @eth_seoul_ Saturday, June 3 at 10am about "Building Composable Decentralized Frontends" – I'm also a hackathon judge. Be sure to check out the prizes from @NEARProtocol@proximityfi and hack on #NEARIsTheBOS!
Talk at @buidl_asia on Tuesday, June 6 at 10:10am: "The Future of Web3 is the Blockchain Operating System." Join for some alpha and learn what's next on the BOS.
Also speaking on an AI+blockchain panel at @buidl_asia on June 6 at 11:25am.
2022 has been a crazy year, let’s recap and sneak preview of 2023!
NEAR Protocol has raised $500m. Startups in the ecosystem raised over $330m. A number of eco funds have started like @MetaWebVC@LyrikVentures@stealthcapfund and many of the existing VCs has been supporting projects on NEAR
I mentioned on Forkast: it’s great time to start now in web3 as early stage capital is there. Valuations will be lower and one must really have the fundamentals down (strong team, good product vision or differentiation in the growing market).
Security should be thought with usability in mind. They are not opposed to each other as some think.
Current self custody is not secure nor usable. Users will go via path of least resistance and expose themself to hacks and phishing if products don't offer usable defense.
Currently web3 space is full of hidden security problems that are usually pushed to the user to DYOR.
Instead let's focus on build products that offer protection by default.
One of the biggest decisions was to make NEAR account model support many keys with different permissions
This allows:
- rotate keys: disable existing key for a new one
- different devices have different keys
- 2FA via multisig with semi-trusted party like wallet service
- delayed recovery via semi-trusted party like bank or group of friends
Blockchain embodies transparency. Consensus is the first layer of mutual agreement on its state. Privacy is the next layer, regardless if it’s via pseudo-anonymity or ZK proofs.
Making someone liable simply for using a privacy tool used also by nefarious actors is equivalent to considering all clients of JP Morgan guilty because someone has used a bank account to launder money.
At the same time, I truly believe that as a web3 community we should make it our goal to counteract Money Laundering and Terrorist Financing. Web3 builders and regulators need to meet in the middle, improving processes and products whilst not impinging on users’ privacy.
From the day 1 with @NEARProtocol it was about experience.
NEAR Ecosystem is ready for mass adoption now. Multiple examples of hiding blockchain and integrating into web2, onboarding of non crypto users and more.
Developer experience was first as the initial team were developers, focusing on bringing common languages (Rust/Typescript), using widely adopted platforms (WASM), scalable infra and programming model that's familiar to web devs (services)
Close second was user experience: remove need to learn about keys, addresses, allow multi device security and progressive onboarding. Making accounts programmable to allow proxy & meta tx.
Making fees predictable (EIP-1559 like) and relying on scalability to keep them low.
It’s exciting to see the Rainbow Bridge launch after a year of development! Bridging tokens, assets, and calling contracts are now possible between Ethereum and NEAR.
First I want to thank @k06a who came up with the original design, and to congratulate the group that built Rainbow Bridge with this release: @mzavershynskyi, @ExonumAlex, @mfornet94, @chadoh, Evgeny Kapun, Bo Yao, Alex Kouprin and other members of the team.
Additional thanks to folks across the ecosystem for discussions, reviews, and testing. This was a huge team effort for NEAR, and lots of friends from ETH as well.
Some context and a technical deep-dive on why & how we built the Rainbow Bridge: /thread