Spotlight on NEAR: The Ethereum Challenger I Predicted Back in June, Steals the Show in Q3 2023 — Binance Research
Well, move over Ethereum, because NEAR Protocol is the surprise life of the crypto party! In a quirky twist, while most blockchains were seeing fewer transactions in Q3, NEAR was out there breaking the rules. Binance Research tells us they managed a whopping 120% growth in monthly transactions.
[You can read the origanal article from The Daily Hodl here: https://dailyhodl.com/2023/10/24/one-ethereum-rival-gained-steam-in-q3-2023-according-to-binance-research/ ]
Plus, NEAR upped their game in daily active addresses, leaving Ethereum and Solana in the dust with a cool 650,000 daily active users. What’s their secret sauce? Well, they got a little help from USDC joining the party in September. NEAR’s all about being scalable and cost-efficient for app developers, and it looks like the market’s loving it, with their native token NEAR trading at $1.12. NEAR, you’re the blockchain party animal that I actually did see coming! 🚀🎉
Back in June of this year, I wrote this article about Near protocol. That article is still super valid right now, so I’m encouraging you to go back and read it. I’ll add the link below. But here is just some of what it contained:
[Meet NEAR Protocol, the rising star in the world of decentralized applications (dApps) and a formidable contender to Ethereum’s dominance. NEAR is all about making life easier for both developers and users with its user-friendly design. Its native currency, NEAR tokens, handles transaction fees and storage, simplifying the whole process.
As a layer 1 blockchain network, NEAR Protocol provides a robust foundation for dApp development, giving Ethereum a run for its money. NEAR’s scalability prowess is a game-changer, thanks to its sharding approach, which divides the network into manageable segments, ensuring smooth transaction processing.
What sets NEAR Protocol apart from Ethereum is its user-friendly approach, employing the Rust programming language, considered more accessible for beginners. It also offers a built-in wallet for secure NEAR token management.
With $533.7 million raised through eight funding rounds, NEAR Protocol has attracted heavyweights in venture capitalism, including Andreessen Horowitz, Pantera Capital, and Coinbase Ventures. These strategic partnerships and financial backing reflect NEAR Protocol’s promising potential in the crypto world.
Looking at NEAR’s trajectory, the NEARCON 2022 conference sparked discussions about its potential to outshine Ethereum. It’s hailed for its functional base layer, appeal to JavaScript developers, and commitment to simplicity and usability, with projects like Orderly, Woo DEX, and NEAR Pay flourishing in its ecosystem. Furthermore, NEAR is becoming a preferred platform for developers migrating from Ethereum and other blockchains.
NEAR’s journey doesn’t stop there; in 2023, it announced a game-changing partnership with Alchemy, designed to empower developers with tools for seamless dApp deployment. Plus, the launch of a grant program and collaboration with Ref Finance emphasizes NEAR Protocol’s dedication to fostering innovation.
So, if you’re into decentralized applications, keep a close eye on NEAR Protocol. It’s shaping up to be a significant player in the dApp world, offering a more user-friendly and scalable alternative to Ethereum. And with NEAR listed on Coinbase, it might even get a boost from the ripple effect of a BlackRock Bitcoin ETF. Exciting times ahead!]
You might have guessed that I am still super bullish on NEAR. Check out the link to my original article I produced back in June: https://medium.com/crypto-currents/cryptos-new-horizon-institutional-waves-and-a-project-poised-for-prosperity-2d886de6dec1
My blah blah blah disclaimer: I am not a financial advisor and cannot provide investment advice. Cryptocurrencies and investing in general involve risk, and individuals should conduct their own research and consider their personal financial situation before making any investment decisions.
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