NEAR Protocol Is a New Generation Blockchain Platform
NEAR Is a New Generation Blockchain Platform
Historically, Bitcoin was the first cryptocurrency invented in 2009 as a response to break away from the centralized system. It was a reaction to the 2008 Great Financial Crisis (GFC). Since the GFC was a result of the greed of the few who control the centralized financial system, technologically savvy people developed a currency that can operate without the regulation of a central bank.
Bitcoin was born. But as Bitcoin was gaining traction, the technology on which Bitcoin is based can be utilized for other applications. Blockchain is the technology behind Bitcoin. In a manner of saying, the demonstration of Bitcoin’s stability through blockchain got people curious as to what else can blockchain be used for.
Thus came other blockchain platforms. Ethereum is a close competitor of Bitcoin. However, Ethereum is a category of its own. They are both cryptocurrencies, but the have different functions and purpose. While we do not go into the technical details here, we can use another illustration.
While Bitcoin can be considered experimental, and Ethereum is more intentional and purposeful, Bitcoin cannot become obsolete at all. While it is safe to say that Ethereum blockchain is a newer breed of blockchain, pretty much like an updated version, Bitcoin is still usable.
Just because New York came before Washington DC, although I am not an expert in US cities’ chronological history and I am using this scenario as a general example, again let me repeat: Just because New York city is older than Washington DC and Washington DC is more strategically planned, doesn’t make New York city obsolete. The Big Apple is a unique city of its own.
New York has a very long history. It was the docking port for different colonizers, from the Dutch to the French, to the British. In a manner of saying, it is more accidental. But when the Founding Fathers of the US wanted to establish a united states, they chose DC as the capital.
The same goes with other newer cities. From Miami to Dallas, from Phoenix to San Francisco. Each city is unique. And regardless of which came first, they all serve a purpose: for people to inhabit and form a community.
In the blockchain world, there are several platforms (cities) that have been developed after Bitcoin. And NEAR is one of those city platform.
For a list of different blockchains in existence today, please check this link:
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Until next time, see ya’ll in the NEAR future.
NEAR Protocol Philippines.