NEAR Protocol receives $350 million to accelerate decentralization
The platform for decentralized applications NEAR Protocol has announced a collection of $ 350 million. Thus, the investment fund Tiger Global organized a round aimed at encouraging the decentralization of the blockchain. We remind you that a collection was organized earlier, which brought a significant amount of money.
NEAR Protocol raises $ 350 million for its decentralization
A few months after raising $ 150 million for Web 3.0 development, NEAR Protocol announced another $ 350 million fee to decentralize the network’s blockchain. It should be added that the fundraiser was led by the investment fund Tiger Global Management, which specializes in the field of Internet and financial technology projects. The representative of the fund stressed that NEAR Protocol has all the prospects for successful development in the field of cryptocurrencies: “NEAR is ready to become a leading blockchain for smart contracts, combining best-in-class technologies with a growing ecosystem of developers. We are excited to support NEAR as we increase our investment in digital assets. »
A number of other investment funds have also supported the initiative, including the Sam Bankman-Fried Fund FTX Ventures, Republic Capital, Hashed, and Dragonfly Capital. In particular, Dragonfly partner Hasib Qureshi considers NEAR Protocol a very progressive and successful project. “In the long run, all blockchains will need to expand horizontally to maintain the scalability needed for future mass distribution. Ethereum 2.0 predicts such a result, but NEAR already provides such an experience, ” — commented Qureshi. The NEAR team stated that these funds will allow the decentralization of the entire system of the company.
NEAR progressive blockchain
NEAR has identified its activities as a platform for the development of decentralized applications (Daaps). These applications are aimed at simplifying the transition to Web 3.0. We remind you that this definition was chosen after the launch of the main NEAR network.
It should also be added that the NEAR blockchain is powered by Proof-of-Stake (PoS) technology, as is the Ethereum blockchain. However, Ethereum has encountered some difficulties in scaling, which has led to high transaction prices. In addition, NEAR uses the integrated Aurora protocol, which allows it to work with Ethereum-based decentralized programs. In particular, Ethereum also provides coordinated work with the Ethereum virtual machine (EVM).
NEAR also has the great advantage of collaborating with more than 300 decentralized blockchain applications. In particular, through the Rainbow Bridge, which allows the exchange of ERC-20 tokens, such as USDT or DAI stableblocks or UNI and 1 INCH tokens.
The project team emphasizes that investment funds should transfer funds in the near future. As already mentioned, the funds will be used to develop decentralization of finance (DeFi) and integration of the Aurora protocol.
NEAR currently ranks 18th in the market, while Polygon (MATIC) ranks 19th. The market capitalization of NEAR is 10.5 billion dollars, and the price of the company’s token is 16 dollars.
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