WHAT IS NEAR PROTOCOL?
NEAR Protocol is a layer 1 blockchain network. NEAR protocol provide a platform who help a developers for buit their decentralised application (dapps). Biggest challenge for NEAR protocol is ethereum because ethereum is most successful layer 1 blockchain.
HOW NEAR PROTOCOL WORKS?
NEAR protocol find a problem in layer 1 blockchain network and resolve the problem of sharing bandwidth between users and telecom providers.
Near also improve a transaction experience and this platform did a thousand of transaction within a second with minimum fee.
A sharding strategy uses in Near Protocol for process transactions quickly and efficiently.
WHY WE USE NEAR PROTOCOL
NEAR protocol is faster transaction platform who gave you satisfied experience of transaction with miner fees.
Private chain with the fastest transaction speed.
Low transaction cost
amounts of CO2, so it is eco-friendly.
Integrating with telecom infrastructure.
WHY THEY NEED TO PLANS NEW UPDATE
Team of near Protocol announced about that they plan for new update by Twitter.
NEAR Protocol is a layer 1 blockchain network so NEAR PROTOCOL compete with a crypto like ethereum, solana, bnb smart chain and other popular chain.
So the team of NEAR protocol did a so many hard work to compete against other network and make more easier to NEAR protocol with decent fees.
NEAR coin gave a good returns around 7.75% gain in last week and the network show a mighty increment in the number of accounts as they jumped up to 316,894 (+17%).
But the other hand we can show that considerable drop in NEAR’s DeFi total value locked (TVL) in the past month.we can see a chart in DeFiLlama site, NEAR TVL massive decline of 10% in just 5 days at starting of August. At this time NEAR TVL locked at $289.61M.
Further more, the network is continuing to gave a falling pattern of the low trading volume. According to CoinGcko NEAR tranding volume is slightly increased 10.06% in last week but on the other hand it’s decreased by 9.1% in last 1 month.
They arrange first protocol working group meeting at 6 September around 4:00 pm utc. Here every one can join and gave a suggestion and discuss about new NEAR enhachment proposal.
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