NEAR Protocol: Sleeping Giant or Overvalued?

Near Protocol, ETH 2.0 Killer or Overhyped Project?

There is a common misconception when it comes to cryptocurrency. And htis is that all your favorite crypto projects are in direct competition with one another. Now, while this can sometimes be the case, you might be surprised to know that cooperation is much more common than the competition in the crypto space. Indeed many of the developers working on crypto projects. You lose sleep over are actually helping each other improve and build each other’s blockchains behind the scenes when it comes to cooperation in the crypto space near is without question the friendliest kid on the crypto block. For all. Almost two years now near has been making videos for their whiteboard Series where they get developers from crypto projects, like Ethereum, Polkadot, Cosmos, and Solana to explain how their blockchains work in detail using nothing more than a whiteboard and a marker. Why does this matter? Well, let’s just say that the Whiteboard series viewers weren’t the only ones taking notes on how all of these leading projects in the crypto space work. The near team has also been And learning and what they’ve built might just fire up your fomo.


What Is NEAR?

NEAR is a smart contract blockchain platform, which is efficient community-based, and developer-friendly. According to their website, you can create a decentralized application on NEAR in just 5 minutes. NEAR is created by Alexander Skidanov and Illia Polosukhi in 2018. Shortly after meeting through the famous San Francisco-based y combinator startup accelerator program.

Alex (left) and Ilia (right). Image via TechCrunch

NEAR raised nearly 50 million dollars into private funding rounds within its first four months even before anything had been built this happens during a bear market. It sounds crazy but makes a lot more sense. When you look at the track records of its two founders. Alex is a former Microsoft software developer and the former director of engineering at Memphis equal a company which specialises in distributed databases. He also won a gold medal at the ICPC in 2008 an annual programming competition involving college students from around the worldIlya is a former engineering manager of Google’s acclaimed research division where he and his team of developers research deep learning and natural language technologies, which are now used in Google’s translation services. He was also an ICPC finalist in 2008.

According to Alex the NEAR team groom from 2 to 10 within a day of being announced. Today the team consists of over 50 of some of the world’s most Brilliant Minds, more than half a dozen of them were also ICPC finalists or medalists. The NEARteam is also known as the near collective. Keep this in mind if you decide to go poking through their docs. I’ll link to these in the publishing description in case you’re feeling pokey. This development was incredibly aggressive out of the gate as the project. Wanted to quote catch up with the rest of the space. Read More…

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s