Forbes India 30 Under 30 2023

Near Protocol launches Web3-focused blockchain operating system

The focus of the new operating system is to enhance user experience on Web3 by creating a common layer for exploring and discovering open web resources

Shashank Bhardwaj
Published: Mar 6, 2023 03:00:35 PM IST

Near Protocol launches Web3-focused blockchain operating systemImage: Shutterstock

Near Protocol, a decentralised application (DApp), has announced the launch of a new blockchain operating system at the ETHDenver 2023 Web3 and innovation festival. 

The focus of the new operating system is to enhance user experience on Web3 by creating a common layer for exploring and discovering open web resources.

The Near team claims that their new system is compatible with any blockchain or Web2 backend, which means that users can use a single app seamlessly, even when switching between different applications or chains. 

The new system also provides developers with the ability to create decentralised and composable frontends. It allows developers to combine different pieces and components with built-ins, such as payments, profiles, and notifications, without needing to host them on a separate server.

Near co-founder, Illia Polosukhin mentioned that the new blockchain operating system provides a platform for developers to showcase their apps to a large audience of users, similar to how iOS provides a platform for app developers. 

The platform also offers all the necessary infrastructure and services for building applications, allowing developers to easily integrate their apps into the system. Their goal is to provide a platform for distribution and development, enabling developers to build their applications on top of the system.

According to the co-founder, Near Protocol is a competitor of Ethereum that provides a blockchain capable of smart contracts and proof-of-stake. The protocol aimed for a 10-fold increase in various key metrics in the past year, such as the number of transactions, active monthly wallets, on-boarded projects, developers, and investment within the ecosystem.

Polosukhin further mentioned that last year, many projects migrated to Near Protocol, and the growth was also driven by efforts to find existing applications with a user base. 

Some of these projects moved to Near because they realised that they could write smart contracts in JavaScript, which made it three times cheaper to hire developers. This not only makes the platform more usable for users but also more accessible and cost-effective for developers.

Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash

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