Near Protocol Ambitions
Near
Protocol is one of the major peers of Ethereum and as it was introduced quite a
while ago most of the add-ons that Ethereum is only now planning to launch are
already in place.
First of
all, Shard Chains allow for the boosting of data capacity and transaction
speed. This mechanism allows for the entire network to be divided into
individual segments or shards, and each of these contain a unique number of
smart contracts and balance data. In other words, the network is split into
smaller working segments that exist side-by-side and enable 100,000
transactions to be made per second, while commissions are much lower than in
the Ethereum network. New blocks are minted by validators according to their
NEAR token stakings, or PoS protocol.
There are
more advantages, such as the opportunity to create readable wallet addresses
(names instead of long set of symbols and digits), the Layer2 Aurora solution
for the fast launch of Ethereum-based apps, and many other. The market cap of
NEAR is currently at $3.4 billion, or 1.7% of Ethereum’s massive $202 billion
market cap vs 3% in April 2022. Technological advantages and large investors
behind NEAR may allow the project to increase its market cap to 25% of
Ethereum’s, meaning that NEAR token prices may surge by 900%.
Long-term
investors may delegate their tokens to validators to receive passive income
with around 10% annual yield. Investors may choose to receive interest in USN
tokens with 15% annual yield. However, in this case investors may not profit as
NEAR tokens may possibly rally.
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