- 1 NEAR protocol, a blockchain-based decentralized application network just released its latest update highlighting the achievements.
- 2 Near Protocol is emerging as one of the major competitors of Ethereum emphasizing the developers and user-friendliness.
The NEAR Protocol just released a report based on its latest updates and achievements in Q2, 2023. The blockchain was developed by the NEAR Foundation and went live in April 2020. Its sharding feature allows NEAR Protocol to offer blockchain scaling solutions for enterprises. The Platform also costs lower transaction fees and provides higher transaction speed and is environmentally friendly.
What NEAR Protocol is Planning?
NEAR Protocol’s latest update reported that the network is on track to its roadmap, highlighting the list of Q2 achievements. The listed achievements are part of its roadmap, reflecting the continuous growth of the NEAR Protocol. Improvements in the cost efficiency of contract deployment and modification in the smart contract runtime are some highlights. These moves made the platform more attractive to the users.
According to the released report, the advancement and improvement will definitely upsurge the smart contract security against vulnerabilities. The Protocol also confirmed resolving some inefficiencies related to mainnet state syncing. The report also revealed that phase 2 of sharing will be the main center of attraction in the Q3 roadmap.
The overall plan of the NEAR Protocol is to boost its attractiveness in order to attract more and more developers. To become more competitive in the blockchain segment, the network is already in line with NEAR’s update. Also, the shading feature made the Protocol unique in the blockchain market, offering low transaction fees and high transaction speed. The faster and cheaper services made it a tough competitor to Ethereum. In addition, the Protocol promises to be faster and more efficient than some of the other largest competitors.
NEAR’s Price Action
NEAR cryptocurrency is a bearish trajectory and can be a blessing in disguise for long-term holders. The crypto market experienced its most bearish weeks of 2023 and NEAR saw its bearish trajectory in December 2020. The currency traded as low as $1.14 after recovering from its lowest price of $1.11. The digital currency also bounced back after a rapid fall and emerged as an oversold territory.
Focusing on the current prices, the NEAR price at present is $1.14, a decline of 0.41% in one day. The market cap of NEAR is around $1 Billion and a total volume of $60.41 Million in the past 24 hours. Also, the current circulating supply of 941,671,517 NEAR coins.
The coins are available at the current price on platforms including Binance, Bybit, OKX, and LBank. The coin is expected to hike in terms of price in the near future.
Conclusion
NEAR Protocol, a blockchain scaling solution is ready to defeat its major competitors including the Ethereum blockchain soon. A report revealed by NEAR Protocol shows that the network is on track to its roadmap. The report also highlights the achievements of Q2 and upcoming plans. The plan is to make the platform more attractive to the developers. Also, the shading feature made the NEAR Protocol more efficient, faster, and cheaper for users.
