There is a big news about NEAR recently~~~ I believe that many friends also pay attention.

what is it then?

On October 25, NEAR announced the launch of an 800 million USD ecological development donation plan. According to the analysis of relevant institutions, the developer fund launched by Near this time is due to the obvious and preliminary development trend of the DeFi track. In the competition situation of "cake" distribution, NEAR wants to obtain the share of DeFi ecological development. main purpose of the program.

According to DeFi Llama, the value locked in DeFi protocols has surged 936% over the past year, showing that the lucrative DeFi market is still in its infancy. It is currently worth more than $237.8 billion.

The first three of them are:

• Ethereum locked up 160.2 billion US dollars, accounting for 67.3%. have an overwhelming advantage;

• Binance locks 19.3 billion USD, accounting for 8.1%. Significant decline;

• secondary title

NEAR The Future of DeFi

Among them, NEAR's locked position is only 142 million US dollars, accounting for only 0.06%. This is very unhealthy for NEAR, which is the 28th largest crypto market cap.

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NEAR Nightshade Protocol

The biggest problem with Ethereum today is its scalability. Due to the congestion problem of Ethereum, the gas fee is directly expensive. Although the high cost can show that Ethereum is currently the well-deserved king of the public chain. But on the other hand, the high cost will hinder its development to a larger group, and the cost of a few dollars is unaffordable for most users. It has to be admitted that the high fees of Ethereum have forced a large number of users to flee the Ethereum network.

Although Ethereum has been upgraded in London, it is not very effective so far. The biggest contradiction imaginable for Ethereum in the future must be the contradiction between people's growing demand for scalability and its development progress.

Under this contradiction, it is a very good opportunity for NEAR to enter the market entrance of the public chain. NEAR's night shadow protocol sharding technology is an advantage

ETH2.0, Polkadot, and Cosmos all adopt the shard chain model. NEAR maintains a separate main chain, where the blocks of the main chain contain all the state of all shards, but the participants of the network actually only maintain the corresponding state on the shards they participate in verifying transactions. That is, the list of all transactions in a block is equivalently divided into "segments", and each block contains these segments. Suppose NEAR has 10 shards, 30 block producers and 1000 validators. Then, each block of the NEAR chain will be divided into 10 parts, and 1000 verifiers will verify the 30 blocks and confirm the correctness of each segment.

Compared with public chains such as ETH and DOT, NEAR is a PoS public chain using sharding technology, which will achieve innovation in reducing handling fees and block congestion.

NEAR’s sharding technology enhances its chances of gaining an advantage. In addition to solving scalability, it also tries to solve composability issues, cross-shard communication delay issues, cross-shard transaction fee issues, etc. If these core problems can be solved, NEAR's sharding will be attractive to dApps and even DeFi.

Each transaction on NEAR takes at most 3 seconds, which is amazing. In addition, the gas fee of NEAR is also very low, 1000 transactions only cost 1 dollar, which is in stark contrast to the tens of hundreds of dollars on Ethereum.

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NEAR -- development

ETH2.0 still has a few years to land, and this period coincides with the window period of NEAR. If the sharding technology can be implemented, it will develop its own ecology. As can be seen from the above figure, the current ecology of NEAR has begun to take shape:

• Infrastructure: 54

• Dapps: 64

• Development tools: 13

• Ecosystems: 19

Here is the URL: awesomenear.com/

The development route of NEAR is also advancing steadily~~

Co-founder of Near Protocol: Near plans to re-shard the main network in November, and add the Forex function to it to increase network performance by 4 times. In January 2022, the state will be further fragmented. People can start processing transactions, and the way of processing transactions is different. The final stage of sharding will have the final form of expansion support through dynamic re-sharding, and the time will be around the end of 2022.

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NEAR tool recommendation

NEAR Digital Wallet: https://wallet.near.org/

NEAR official website: https://near.org