There's a new protocol in town and it is building some seriously cool things for developers wiating on Ethereum 2.0 to come out. It's called NEAR (https://near.org/) and it claims to be building a new internet with their blockchain and from this review done by the Whiteboard Crypto team, it certainly looks promising.
They take the PoS (proof of stake) model and bring it further with a Delegated PoS consensus mechanism (if you don't have enough coins or can't do validations on your own equipment then you lend coins to others who can). Their DoomSlug model of doing this requires less rounds of consensus so ends up being faster.
NEAR also uses sharding to process blocks faster. This is called NightShade and means it can process 100k transactions per second. Ethereum 2.0 is meant to have this but NEAR is already there.
To make the protocol more user friendly, NEAR has human readable addreses which you can create for free to reserve them here: https://wallet.near.org/. Ethereum has this as well but there is cost to this.
Additionally, NEAR uses guilds which we have typically seen in the play-2-earn gaming space. Guilds there help provide equipment, education and will even provide initital capital for players (commonly called scholars) to get started sooner (as some games have a cost of entry). By having a guild, NEAR will have a way to decentralise its actions even more as these can be split into various departments that would be needed to grow the DAO (like departments in a company).
Finally, another great innovation from NEAR is its Aurora scaling solution which makes it easy for Ethereum developers to copy their applications from that platform to NEAR and have it run. This kind of interoperability will certainly make life easier if NEAR has the metrics and tokenomics needed for future DAO solutions to build on further.
Comments