Despite Market Conditions, Why I choose to hold NEAR Protocol for long term?

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Avatar for lovesontungmtp1
1 year ago
Topics: NEAR, Holder

When thinking about Layer 1 Blockchains other than Bitcoin and Ethereum, many people will name Avalanche, Solana, Cardano or Polkadot instead of NEAR. So is NEAR really undervalued?

Despite Market Conditions, Why should you hold NEAR right now?

1) The explosion of the whole NEAR protocol ecosystem

Its TVL has increased significantly in just 2 weeks.

Meanwhile, the total number of transactions has surpassed $150 million and is still growing.

The number of active addresses on this protocol is also significantly more, 3 times more than in November last year.

Projects on the NEAR ecosystem also contribute significantly to the overall development of the entire system. Some recent prominent faces can be mentioned such as: Ref Finance, Burrow Cash, Meta Pool, Paras, Bastion,...

2) Scalability and transaction processing speed

NEAR's scalability is based on the protocol's famous Nightshade Sharding as their Proof-of-Stake consensus mechanism. With Nightshade Sharding, it subdivides the network so that most of the computation is actually done in parallel. The NEAR blockchain can handle more than 100,000 transactions per second. This is one of the largest throughputs in the crypto space. In addition, the NEAR platform has no scalability limitations due to its ability to fragment and distribute unique code to a larger number of nodes.

3) NEAR allows Unstake very easily

Some PoS allows staking very easily but then it is impossible or difficult to unstake. If so then users need to switch to NEAR immediately because this protocol allows unstake within 48 hours, you are free to move your coins anywhere you want. This is actually a lot lower than many chains, including some big names like Polkadot and Cosmos.

4) Doomslug consensus mechanism

Doomslug uses two rounds of consensus, with a block considered completed after the first communication cycle. Instead of competing for staking coins, validators take turns creating blocks, allowing for near-instant finality. Doomslug simplifies things for developers, while giving them a powerful set of tools to build next-generation apps
Because of all of this, blocks are completed very quickly.

To sum it up, we can see a lot of money is pouring into the NEAR ecosystem making it have even stronger growth potential and that's also why everyone should hold NEAR right now.


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Avatar for lovesontungmtp1
1 year ago
Topics: NEAR, Holder