How to Maximise the NEAR ECOSYSTEM
Many this year saw the revolution of Defi, yield farming and of recent NFTs with users of this product using either the Ethereum blockchain or Binance smartchain. Many Africans especially Nigerians are massive beneficiary of this product the ecosystem has to offer. With the recent spike in gas fees of Ethereum blockchain and various news of smartcontract exploitation currently going on BSC, many are now looking for “the next big thing” which will find solution to what the two most popular ecosystems are currently facing and also be of massive potential to the future of blockchain.
Near protocol is a smart contract Decentralised Blockchain, that provides a platform for the hosting of Decentralised Applications (DApps). It is a glowing star of recent innovation that has provided developers with a medium that is stress free, reduce cost with fast accessibility bringing Developers and users close with ease and simplicity.
INITIATION OF NEAR PROTOCOL
Near protocol was initiated and built by a group of individuals call NEAR COLLECTIVES. this include a worldwide community of researchers, developers and thinkers alike. Some of the prominent initial co-founders include Alexander Skidanov and Illia Polosukhin. This group of people initiated the Near protocol code and further supported the project by releasing bug fixes, update and building out the Near protocol ecosystem.
NEAR PROTOCOL OPERATING SYSTEM
The gem behind the fast and efficient Near protocol operating system is the use of Nightshade and Doomslug mechanism.
NIGHTSHADE: is a type of shading system that take a snapshot of the current state of each shard and add it to a block, with each shard having it own validator nodes which broadcast the state of the shard every time a single block is produce.
DOOMSLUG: this is a system that allows validators nodes to generate several blocks with at least a new block generate roughly every one second during computing. This mechanism is behind the speed and efficiency of Near protocol operating system.
NOW THE NEAR ECOSYSTEM
There are currently more than 50 Dapps built and hosted on Near protocol with Flux, Mintbase & Paras being the ones taking the limelight. It consist of various Dapps built and lunched by developers with users concurrently accessing them. Storage of data, staking and other transactions are done with the use of Near protocol native token called Near token. This ecosystem is a non-server, free and open resource blockchain where everyone can join and access.
DAPPRADAR has succesfully incooperate Near protocol into it services with about eight Dapps from Near protocol being part of the in cooperation. Dappradar is a platform that keeps track of Decentralised Applications and gives insight and accessibility to it users. Such in cooperation shows a huge march to success for Near Protocol Ecosytem.
Below are some of the Dapps listed and track on Dappradar
- Nearpixel
2. Nearnames
3. Ref finance
4. Rainbow bridge
5. Berryclub
6. Sputnik DAO
7. Pulse
8. Paras
9. Flux
NEAR Protocol Native Token $NEAR
Near protocol token is the Native currency of Near protocol ecosystem used as a unit of value for transaction. It also enable token holders to use various applications on near, participate in network governance and even earn tokens reward by staking to the network.
Near tokens are basically used by:
- APPLICATION USERS: Near token is use to pay for transaction by users of various Application on the near protocol network.
- VALIDATORS AND DELEGATORS: tokens holders can stake near token by lending there tokens to validators pool and this in turn end them profit. The nodes which run the network on near protocol are compensated by inflammatory reward.
NEAR PROTOCOL TO NIGERIA
Nigeria as a developing Country where is there is strife for the diversification of the economic system, Near protocol is a best consideration in Boosting the Digital Economic system of Nigeria.
Below are some of the ways Nigeria can benefit from Near protocol.
1. Opportunity for Nigerians Dapp developers; with it simplicity, accessibility and low cost, Nigerians are been opportune to participate in creating all category of Dapps such sport Dapps, Trading Dapps and exchange Dapps. This in a long run will provides job for young Nigerian Developers.
2. Initiation of contract execution; Near protocol can be used in various Business enterprises in Nigeria for the execution of contract in business base on the already Draft policy of the Business by the business Entrepreneur even in absence. this will go a long way in saving time and Absence short coming.
3. Earn Near protocol token; Nigerians can participate in Near protocol Bounties ,participate in running a community which help people build on Near, by winning a Near hackathon.
4. Use of Dapps; Various category of decentralised apps have been created and host on Near protocol, this has provide an easy medium for various enterprises to make use of this apps for there various purposes. Games Dapp can be used by Game centers, trading dapps by various business platform etc.
This is a major Area where many Nigerians are currently exploring on other blockchain especially ETH and BSC, been early adaptor of NEAR built Dapps can be a life changer.
Conclusion
Initiation of Near protocol has brought an end to the scalability problem encountered by early blockchains, this has created a medium and a platform where large number of transaction can be handle with reasonable speed and cost. In the long run serving as a tool for the exploit of a new digital economy.
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