CHAIN ABSTRATION IS NEAR: THE MONOLITHIC AND MODULAR THESIS
The recent NEARCON 2023 conference was nothing short of booming, with a series of heavy announcements on the development of the NEAR ecosystem, it becomes clear that NEAR Protocol is charting a bold new course. In this article, we’ll delve into NEAR’s intriguing new direction, characterized by its dual approach of embracing the monolithic and modular aspects of blockchain technology.
The Monolithic NEAR
At its core, NEAR continues to operate as a full-stack Layer 1 blockchain, where execution, data availability, and settlement all take place within its ecosystem. This self-contained approach enables NEAR to scale effectively through innovative techniques like sharding and efficient storage solutions.
NEAR’s native decentralized applications (dApps), exemplified by projects like Sweat Economy and Ref Finance, make full use of this comprehensive stack. They seamlessly harness the power of NEAR’s monolithic infrastructure to create groundbreaking decentralized experiences.
The Modular NEAR
However, NEAR’s evolution doesn’t stop at being a monolithic blockchain. It is also emerging as a modular tech stack designed to augment the Ethereum ecosystem. This modular approach opens up exciting possibilities across various layers, including the interface, execution, data availability, and settlement.
The NEAR Modular Stack
Here’s a glimpse of what the NEAR modular stack brings to the table:
User Layer: NEAR introduces a unified user interface with BOS (Blockchain Operating System), simplifying the user experience across chains.
Execution: NEAR offers multiple execution environments, including NEAR native, NEAR EVM, and the innovative zkWASM.
Data Availability: NEAR Data Availability (DA) is a game-changer, being 8000 times cheaper than Ethereum. It’s compatible with Polygon CDK, OP Stack, and more.
Settlement: NEAR ensures fast finality for rollups, reducing settlement times to mere seconds, greatly enhancing efficiency.
The New Question
In this NEAR paradigm shift, the question is no longer, “Why NEAR?” Instead, it becomes, “Which part of NEAR should you leverage?” The versatility and scalability of NEAR’s modular stack provide users with an array of options to choose from, tailored to their specific needs.
Chain Abstraction: A Visionary Concept
What truly sets NEAR apart is its visionary approach to chain abstraction. By offering a modular technology stack, NEAR aims to abstract away the complexities of an increasingly fragmented multichain world. Imagine a world where:
- A unified user interface seamlessly connects you to any decentralised application on any blockchain, reminiscent of a Web3 app store.
- A single account empowers you to control every account on any chain, including even the mighty Bitcoin blockchain.
- Cross-rollup transactions are executed within your favourite dApps in mere seconds, facilitating frictionless interaction between different blockchains.
Conclusion
NEAR’s journey into the realms of both monolithic and modular blockchain technology is a testament to its commitment to innovation within the Open Web and web3. This dual approach not only aligns with Ethereum but also pioneers the concept of chain abstraction, creating a world where users can do what they want without the constraints of the underlying blockchain. As we look ahead, NEAR Protocol is poised to be a key player in shaping the future of blockchain technology and its seamless integration into our daily lives.
Ressources
- NEAR X Polygon zkWASM
- NEAR Data Availability Layer
- Fast Finality Layer with @eigenlayer
- Account Aggregation (Multichain Accounts) @PagodaPlatform
- Blockchain Operating System (BOS)
- For a productized example of BOS, see @DapDapMeUp or @coin98_wallet or check out this tweet!
This blogpost is based on the original source (Tweet) by Proximity
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About NEAR
NEAR is on a mission to onboard a billion users to the limitless possibilities of Web3 with the Blockchain Operating System (B.O.S). Leveraging its high-performance, carbon-neutral protocol, which is swift, secure, and scalable, NEAR offers a common layer for browsing and discovering the Open Web.
