NEAR Protocol
4ire Labs is an official integrator of NEAR Protocol, a next-generation layer 1 protocol for independent powering of the emerging Open Web. A new word in the world of blockchain, NEAR is a real competitor to Ethereum 2.0, an emerging project of Ethereum in the making.
It offers impressive scalability, striking user-friendliness, and overall flexibility, making it highly usable, relevant, and increasingly demanded today. Let’s take a tour over this technology by comparing it to Ethereum 2.0 to see what NEAR is, what it has in store for businesses and end-users, and how you can take advantage of NEAR today.
Introduction to NEAR Protocol
In a nutshell, NEAR is the next-generation proof-of-stake blockchain protocol that is deeply practical in its approach and offers scalability and low costs of operation. The founders of NEAR have refused from the idea of using centralized high-end software for powering the transactions. Instead, they introduced the sharding algorithm called “Nightshade” for the segmentation of transaction computation load and maintenance of full decentralization.
The plans of NEAR are nothing less than transforming the modern Internet and giving the power over user data and resources to the end-users. The founders of NEAR are dedicated to the overall philosophy of blockchain, that is, user control and privacy so that no large corporation can elicit or manipulate user data, and people don’t lose their businesses or private data in cases of governmental blockages.
What you need to know about NEAR is:
- It’s a layer 1 protocol for independent powering of Open Web (not a side chain or supplemental system).
- It’s a base-layer system, meaning that all Dapps and services created with its help are on top of the underlying NEAR layer.
- It’s a sharded system that can be scaled infinitely.
- It’s a highly flexible and easy-to-use protocol enabling developers to build apps quickly and introducing the general public to blockchain.
Advantages of NEAR compared to Ethereum 2.0
The greatest benefit of NEAR is the sharded nature of the platform. The problem distinguishing its predecessors, Bitcoin and Ethereum, is the low scalability and computational bottlenecks arising from the major philosophy of blockchain: every node of the chain should run all the code on their hardware.
As a result of such a position, thousands (and even millions) of redundant, identical operations are undertaken by every node in these blockchains, reducing the number of transactions per second (Ethereum currently offers the throughput of 14 transactions per second only) and imposing severe limits on the blockchain’s functionality.
While Bitcoin opened up the universe of blockchain, it still wasn’t meant for anything except for programmable money. Thus, the developers’ efforts to use it as a general-purpose computing platform were clumsy and mostly ineffective, with slow and costly transactions, limited functionality, and other challenges.
The problem was solved in part by the launch of Ethereum in 2014. The project of Vitalik Buterin was far-reaching in its ambitious goal of global virtual computer creation. Still, the progress of this platform stagnated because of extensive academic research, much theorizing, and cumbersome redesign processes related to a large number of current users and the system’s complexity.
The founders of the NEAR network, while keeping in line with all basic principles of blockchain, have gone one step further by making their protocol sharded. This feature means that the entire code run in the blockchain is segmented into chunks, with each chunk being run on a single node parallel to each other.
As a result, the entire code is run much quicker, and the NEAR platform has no scalability limits due to the unique ability of code fragmentation and distribution to a larger number of nodes without the sacrifice of speed and performance.
The unique nature of NEAR blockchain makes it highly attractive for all blockchain participants, such as end-users, businesses, and validators.
- End-users enjoy the benefits of a flexible, progressive UX, while at the same time receiving access to numerous services running on NEAR with easy, hassle-free onboarding without any privacy sacrifices.
- Businesses can customize advanced permissions for users into their apps and receive a vast toolkit for simple app composition. As the market grows, developers receive access to a steadily increasing customer base through the NEAR platform. The best app creators are rewarded with protocol-level free rebates.
- Validators can join in without advanced software due to the sharded nature of the system. They can earn protocol tokens by validating transactions in the popular, quickly growing ecosystem.
projects powered by NEAR
As an official NEAR integrator, 4ire Labs is proud to present several recent projects migrated to the NEAR protocol. They were initially operating on Ethereum, but the cumbersome operation and costly transactions led the creators to reconsider the underlying blockchain, turning to us with a migration request.
Proteios
Proteios.io is a blockchain-based platform boosting innovation and experience exchange in the genetic engineering industry. The project is still in the making, but its smart contract system has migrated from Solidity to Near Rust SDK for better performance and transaction speed.
NEAR fosters the seamless integration of new users and products into the Proteios system, enabling the robust collaboration of specialists in the pharmaceutical, vaccine development, genome sequence analysis, and disease biomarker analysis industries.
Hash Rush
Hash Rush is probably the first blockchain game in which the users can enjoy the full arsenal of blockchain benefits customized for the gaming industry. The in-game purchases may be performed using the game’s internal token; gamers own their entire inventory (which is not valid for regular games); an internal market is available for valuable in-game asset trading.
The game has much in store for its users, ranging from regular competitions with prizes to daily quests and content updates. It’s needless to mention that the game’s token is a cryptocurrency on its own, increasing in value as the users hold assets.
Where is NEAR now and where is it heading?
The ICO of NEAR ended in 2018, and now the company is actively engaged in community-building and adoption. Its star team consisting of software engineers with 10+ years of experience learned from the lessons of other blockchain projects and know that adoption is the key to success. Thus, they expand the outreach of NEAR to make it an integral part of the Open Web of the future.
The NEAR Collective is a vibrant community, including hundreds of experienced blockchain engineers working on the usability improvements every day. The mission of the Collective is to provide user education and make blockchain closer to people, showing that this technology is not as hard as many think.
One of the recent achievements of NEAR was the launch of its MainNet network, the milestone that Ethereum 2.0 is yet to achieve. The network is production-ready, enabling the development of high-quality apps and services in record time. As time goes by, more developers consider joining NEAR, boosting the system’s growth.
Methods
NEAR Protocol
-
Introduction to NEAR Protocol
-
What you need to know about NEARis:
-
Advantages of NEAR compared to Ethereum 2.0
-
Projects powered by NEAR
-
Where is NEAR now and where is it heading?
Ethereum vs Near
- NEAR vs ETH Difference
- NEAR vs ETH Comparsion
- NEAR vs ETH Price Chart Is
- Near Protocol better than Ethereum?
- What are the purposes of NEAR and ETH?
Polygon vs Near
- NEAR vs MATIC Difference
- NEAR vs MATIC Comparsion
- NEAR vs MATIC Price Chart Is
- Near Protocol better than Polygon?
- What are the purposes of NEAR and MATIC?
Comparison using flipside data
- Daily transactions
- Weekly transactions
- Monthly transactions
- Percentage of transactions
- Weekly Active Users
- Percentage of Active users
Conclusion
My Querys
--TRANSACTIONS
WITH tx1 AS
(SELECT
DATE_TRUNC('week', block_timestamp) as week,
count(DISTINCT TX_HASH) as num_tx ,
'near' as laybel
FROM NEAR.core.fact_transactions
WHERE week >= '2022-01-01'
GROUP BY 1
order by WEEK desc) ,
tx2 AS
(SELECT
DATE_TRUNC('week', block_timestamp) as week,
count(DISTINCT TX_hash) as num_tx ,
'polygon' as laybel
FROM polygon.core.fact_transactions
WHERE week >= '2022-01-01'
GROUP BY 1
order by WEEK desc) ,
tx3 AS
(SELECT
DATE_TRUNC('week', block_timestamp) as week,
count(DISTINCT TX_HASH) as num_tx ,
'ethereum' as laybel
FROM ethereum.core.fact_transactions
WHERE week >= '2022-01-01'
GROUP BY 1
order by WEEK desc) ,
total as
(select week , num_tx , laybel from tx1
UNION all
select week , num_tx , laybel from tx2
UNION all
select week , num_tx , laybel from tx3)
select * from total
--ACTIVE USERS
WITH day1 AS
(SELECT DATE_TRUNC('DAY', block_timestamp) as day, TX_SIGNER as user_address
FROM NEAR.core.fact_transactions
WHERE block_timestamp >= '2022-01-01'
GROUP BY day, TX_SIGNER),
week AS
(SELECT DATE_TRUNC('WEEK', day) as week, user_address, COUNT(*) as num_days
FROM day1
GROUP BY week, user_address
),
active_users AS (
SELECT week, COUNT(*) as num_active_users
FROM week
GROUP BY week
), t1 as(
SELECT * , 'NEAR' as laybel
FROM active_users
order by WEEK desc),
--UNION
day2 AS
(SELECT DATE_TRUNC('DAY', block_timestamp) as day, FROM_ADDRESS as user_address
FROM polygon.core.fact_transactions
WHERE block_timestamp >= '2022-01-01'
GROUP BY day, FROM_ADDRESS),
week2 AS
(SELECT DATE_TRUNC('WEEK', day) as week, user_address, COUNT(*) as num_days
FROM day2
GROUP BY week, user_address
),
active_users2 AS (
SELECT week, COUNT(*) as num_active_users
FROM week2
GROUP BY week
) ,
t2 as (
SELECT * , 'polygon' as laybel
FROM active_users2
order by WEEK desc ) ,
day3 AS
(SELECT DATE_TRUNC('DAY', block_timestamp) as day, FROM_ADDRESS as user_address
FROM ethereum.core.fact_transactions
WHERE block_timestamp >= '2022-01-01'
GROUP BY day, FROM_ADDRESS),
week3 AS
(SELECT DATE_TRUNC('WEEK', day) as week, user_address, COUNT(*) as num_days
FROM day3
GROUP BY week, user_address
),
active_users3 AS (
SELECT week, COUNT(*) as num_active_users
FROM week3
GROUP BY week
) ,
t3 as (
SELECT * , 'ethereum' as laybel
FROM active_users3
order by WEEK desc )
select * from t1
UNION
select * from t2
UNION
select * from t3
NEAR vs ETH Difference
If you are going to swap NEAR vs ETH, make sure you learn as much as possible about these cryptocurrencies. Along with Near Protocol vs Ethereum comparison, check the NEAR vs ETH difference in value, and the future potential of both coins.
NEAR vs ETH Comparsion
To compare both cryptocurrencies, check whether the crypto projects powered by them have real-world use cases. If so, the coins have a reason to exist and, most likely, their price will increment.
NEAR vs ETH Price Chart
Before you exchange NEAR for ETH, calculate whether the transaction is profitable for you at the moment. To do so, move to our live price chart. Along with the NEAR vs ETH vs USD exchange rates, you can check here the following information.This information will assist you with getting a clearer idea about the coin price trends and create an accurate Near Protocol vs Ethereum price prediction.
Frequently Asked Questions
Is Near Protocol better than Ethereum?
When you compare NEAR vs ETH, take into consideration such factors as Near Protocol vs Ethereum transaction time, the usability of both cryptocurrencies, and the perspectives of the projects supported by NEAR and ETH. These details will help you to determine whether these coins are going to grow in value or, on the contrary, will plunge.
What are the purposes of NEAR and ETH?
Both cryptocurrency NEAR vs ETH types are applied to support their blockchains. They are also traded on major cryptocurrency exchange websites.
Why LetsExchange.io is the best place to convert Near Protocol to Ethereum?
Here, you can swap your crypto without issues and limitations. Along with the highest safety level, you can count on the best rates, the absence of compulsory account registration, and other perks.
NEAR vs MATIC Difference
If you are going to exchange NEAR vs MATIC, learn as much as possible about these cryptocurrencies. Along with Near Protocol vs Polygon comparison, check the NEAR vs MATIC difference in price, and the future potential of both crypto coins.
NEAR vs MATIC Comparsion
To compare both cryptocurrencies, check whether the crypto projects powered by them have real-world use cases. If so, the cryptocurrencies have a reason to exist and, most likely, their value will grow.
NEAR vs MATIC Price Chart
Before you exchange NEAR for MATIC, calculate whether the transaction is convenient for you now. To do so, use our live price chart. Along with the NEAR vs MATIC vs USD exchange rates, you can check here the following information.This information will help you to get a clearer idea about the price trends and create an accurate Near Protocol vs Polygon price prediction.
Frequently Asked Questions
Is Near Protocol better than Polygon?
When you compare NEAR vs MATIC, consider such characteristics as Near Protocol vs Polygon transaction time, the usability of both coins, and the perspectives of the projects supported by NEAR and MATIC. These details will help you to determine whether these coins are going to increase in value or, on the contrary, will decrease.
What are the purposes of NEAR and MATIC?
Both cryptocurrency NEAR vs MATIC types are applied to support their networks. They are also traded on major exchange services.
Why LetsExchange.io is the best place to convert Near Protocol to Polygon?
Here, you can exchange your crypto without problems and limitations. Along with the highest safety level, you can count on the most comfortable rates, the absence of mandatory account registration, and other benefits.
animated time series chart below shows the amount of daily changes and the difference in percentage with the previous day is shown as positive and negative
animated time series chart below shows the amount of weekly changes and the difference in percentage with the previous day is shown as positive and negative
Monthly transactions
The chart below shows the number of Monthly transactions on the Near and Polygon and Ethereum networks
As shown in the chart below, the number of monthly transactions of Polygon is much higher than that of Ethereum, and that of Ethereum is higher than that of Near
The highest number of monthly transactions
NEAR > 25.5 m << ETHEREUM > 37.1 m << POLYGON > 100.4 m
animated time series chart below shows the amount of monthly changes and the difference in percentage with the previous day is shown as positive and negative
Weekly Active Users
The chart below shows the number of active users
Near had the highest number of active users in the second week of March
Polygon had the highest number of active users in the second and third week of October
Ethereum had the highest number of active users in the last week of July and the first of August
animated time series chart below shows the amount of monthly changes and the difference in percentage with the previous day is shown as positive and negative
Conclusion
NEAR protocol is one of the strongest cryptocurrencies on the market today in terms of price action, and offers some significant technological advantages over other blockchains such as Ethereum and Bitcoin which help increase usability for both developers and users alike.
NEAR continues to hold price near its all-time highs and is actively seeing user growth, new partnerships, and more key innovations coming online such as sharding and the growth of its Rainbow Bridge that are poised to encourage further growth of NEAR Protocol and its token.
Of course, the long term outlook of any cryptocurrency is hard to say for certain, however provided that NEAR sees continued development and user growth, as well as developer growth thanks to its incentives and growing dApp ecosystem, it is likely to remain a strong choice of investment for the foreseeable future.
Some may be hesitant to commit their money into an asset for an extended period of time due to the extreme volatility and risk of the cryptocurrency markets. Plus, it is impossible to say for certain which blockchain will win the scaling wars given the rise of Layer-2 blockchains as well as Ethereum 2.0 coming online. So, NEAR investors should keep tuned to any market news about upcoming technological developments and catalysts.
Thank you flipside team ❤️🔥