Reasons for holding NEAR - Projects with strong growth potential
NEAR Protocol is probably not an unfamiliar name to brothers anymore, as this platform grows and expands continuously. In this article, I will talk about the reasons I hold NEAR, and the growth potential of NEAR in the future based on what the development team has been doing.
ABOUT NEAR PROTOCOL
NEAR Protocol is a layer one decentralized application platform built on a Proof-of-Stake mechanism. NEAR Protocol has strong points compared to other competitors including high scalability, low cost, and high decentralization.
In a time when the cost and speed of transactions on Ethereum are at a level that is no longer reasonable, NEAR Protocol has been considered a formidable opponent of Ethereum with transaction costs ten thousand times lower and possible. high scalability.
NEAR STAFF BETWEEN ECOLOGICAL WAR
Since NEAR is a platform token, in order for NEAR to grow, NEAR's ecosystem must develop, many applications and many users, from which the demand for NEAR increases.
For a platform to evolve the DeFi ecosystem, there are two must-have components: users and developers of decentralized applications. The way to attract those two components to the foundation is always a headache problem, which needs to be handled wisely.
I see, NEAR Protocol has been very successful in attracting these two components with very methodical steps, which will be analyzed below.
Attract developers:
First, I will talk about attracting decentralized app developers.
NEAR Protocol has chosen a smart way to start Hackathon Hack the Rainbow last August, and the program to fund development projects on NEAR worth one million dollars in early February. . The program “Hack the Rainbow” was organized very well with two weeks of instruction and two weeks of work, since then has attracted four hundred contestants with eighty new projects. Furthermore, the ongoing sponsorship program launched last February has a budget of up to a million dollars, which is sure to continue to attract more developers and many potential projects.
But just awarding and sponsoring the developers is not enough, they also need the tools to help develop the application. Therefore, the EVM virtual machine and Rainbow Bridge - a bridge between the Ethereum and NEAR platforms - have been deployed with the aim of helping developers and users on Ethereum to access NEAR easily.
If you follow the NEAR Protocol's Twitter page, you can see that the EVM virtual machine is constantly upgraded, and Rainbow Bridge is very well operated by the NEAR team: supporting product use, designing support tools. support, and patch as soon as it is detected.
The methodology in each stage of project implementation and attracting developers of NEAR really makes me reassuring. Next, let's find out, what NEAR Protocol has been doing to attract users.
Attract users:
Attracting users is a very difficult problem for platforms. So how did NEAR Protocol handle this problem?
First, NEAR is slowly forming key pillars of the DeFi ecosystem including stablecoin applications, borrowing / lending, and decentralized exchanges. NEAR is also gradually improving the user experience, as demonstrated by the recent partnership of NEAR and the Ledger wallet to help Ledger users interact with decentralized applications on NEAR.
Promotion activities are also being held vigorously, such as the community building program of The Sandbox that launched last weekend, or the NEAR Protocol article program in the community of countries.
I am looking forward to the next activities of NEAR, not only because these activities will push NEAR to grow, but also because they demonstrate the market acumen and promotional ability of the NEAR team in the market. crypto field.
EPILOGUE
The problem of attracting the two most important components of an ecosystem is being solved neatly and effectively by NEAR Protocol. Evaluating the potential and professionalism of the project, and being one of the DeFi cards of Coinbase, A16Z and many other cult investment funds, I have great faith in NEAR's growth potential.
This article is for informational purposes only and not investment advice!