🔋 Empowering a multi-chain future

Today's Highlights

• NEAR - platform to provide new experiences to millions
• This Week On BuzzBelow - a recap on this week's topics.
• In Other News - a few interesting developments we're tracking.

NEAR - empowering millions to invent and explore new experiences

Users find the NEAR Protocol appealing because of its sharding technology, which it calls “Nightshade”. The sharding technology allows for greater transaction capacity, security and lower transaction fees than many other platforms.

Sharding is the process in which the network’s infrastructure is split into several fragments in order for computers to only have to handle a fraction of the network’s transactions. Instead of distributing the complete blockchain across network participants, sharding distributes segments of blockchain and this helps to retrieve network data more efficiently.

Like other major centralized data storage systems, NEAR too operates in a similar way, all applications are built on them. But those major centralized data storage systems run on a single entity, NEAR is operated and maintained by a network of computers.

The Rainbow Bridge application allows easy transfer of Ethereum tokens back and forth between Ethereum and NEAR. NEAR Protocol uses a native token called NEAR which allows users to pay fees for transactions, run applications and pay for storage.

Aurora, a layer 2 scaling solution built on NEAR protocol, allows developers to launch their Ethereum decentralized applications on NEAR’s network. Developers who want to build more efficient applications which will experience a high volume of activity prefer the NEAR protocol.

Alex Skidanov and Illia Polosukhin are the founders of NEAR protocol. NEAR has raised a total of $183.7M in funding.

This Week on BuzzBelow

💲 Build User-Friendly dApps for Cheap

Polygon and how it helps developers to build decentralized apps economically.

BuzzBelowSukanya Ganesh

🏡 Real Estate in Web3

DeFi in real estate and how it allows for more transparency in this volatile economy.

BuzzBelowSrijan Bijjam

🕸 Unified Identity Network

NFT3 and how it provides unified identity across all layers of a web3 app.

BuzzBelowSukanya Ganesh

🏧 Secure Crypto Wallets

Crypto wallets explained.

BuzzBelowSrijan Bijjam

In Other News

3 Lessons From The Oslo Freedom Forum: Why BTC? Nabourema, Likhachevskiy, Diop

The Oslo Freedom Forum offers another way to measure the bitcoin network’s worth. Price action is fine, but, what about real-life impact? The event is not about bitcoin per se. However, The Human Rights Foundation’s Chief Strategy Officer, Alex Gladstein, put together a series of one-minute clips th…

Tech TalkAlpha House

Hurry Up With Crypto ID Checks, FATF Tells Countries

After the potentially privacy-busting “travel rule” for crypto transfers, global standard setters at the Financial Action Task Force have their eyes on DeFi, NFTs and unhosted wallets.

CoinDeskJack Schickler

EU Watchdog Wants to Address Threat Crypto Assets Could One Day Pose to Financial System

The European Systemic Risk Board is looking into measures and policies to address the potential threat that crypto assets could present to the global financial system.

CoinDeskCamomile Shumba