Infrastructure
1. Rainbow Bridge
The fully-functional NEAR — ETH rainbow bridge. It enables the transfer of any token, NFT, or asset between the NEAR and Ethereum blockchains.
Blockchain bridges are important for DeFi development specifically and for any ecosystem in general. They create asset flows and interoperability between blockchains. Rainbow Bridge enables users to transfer digital assets from Ethereum - a blockchain that holds significant value to Near - the one that is developing its DeFi ecosystem and in need of additional liquidity
2. Octopus Network
A sidechain network to bootstrap and run Web3.0 application-specific blockchains, aka appchains. The Octopus Network launched its mainnet in September and its first appchain on October 8th. When Octopus runs in its full capacity, 30-50 appchains will be launched in the network annually.
3. Aurora - an EVM built on the NEAR Protocol, aims for full compatibility with Ethereum development tools. Aurora launched its validator on NEAR and started charging delegators with 9% fees to ensure transactions remain free for users. The fee will be adjusted over time according to the amount of the delegated funds.
The number of projects built on Near is still humble compared to other chains (138 projects in all categories) such as Solana (423 projects in all categories), Ethereum (220 DeFi projects), BSC (241 DeFi projects), etc. Investors can expect to see:
- More and more upcoming projects on Near Ecosystem, especially DeFi category and NFTs & Gaming category.
- dApp with attractive APYs and APRs to attract liquidity.
- Lending/ Borrowing category showing improved performance.
- ChainLink and Band Protocol launch their services on Near and feed off-chain data to Near’s on-chain network.
Near has almost completed its infrastructure and is switching to Phase 0 of Simple Nightshade - a step towards a fully sharded blockchain. This change will improve the total TPS by 5-8x and potentially reduce the storage cost. In the following phases, Near will increase the number of block producers on its mainnet to 100, then will introduce chunk-only producers and likely bring the total number of validators significantly higher.
Bridges to BSC and Solana are under development. When finished, they will attract substantial liquidity and money flow to the Near Ecosystem.
Coinbase listing: Even though Near is backed by Coinbase, it has not been listed on Coinbase yet.
Source:
MMA_Crypto
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