The month of May 2022 marked a huge milestone for NEAR, the blockchain ecosystem with a focus on finding Web3 talent and enthusiasts in Africa, as the protocol surpassed the 10 million wallets created mark.
“This milestone brings NEAR one step closer to creating a decentralized planet where everyone can create, interact, and thrive. Credit goes to every project, team, or individual helping to build NEAR for a better future.”
– NEAR
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SEE ALSO: [NAKURU NEAR-MEET] Harnessing Opportunities in Web3
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NEAR Protocol is a decentralized application (dApp) platform and Ethereum competitor that focuses on developer and user-friendliness. Its native NEAR tokens are used to pay for transaction fees and storage on the NEAR crypto platform.
NEAR is a Proof-of-Stake (PoS) blockchain that uses sharding technology to achieve scalability.
NEAR has incorporated features like human-readable account names as opposed to only cryptographic wallet addresses, and the ability for new users to interact with dApps and smart contracts without requiring a wallet at all.
Projects building on NEAR include:
- Mintbase – A non-fungible token (NFT) minting platform
- Flux – A protocol that allows developers to create markets based on assets, commodities, real-world events, and more.
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You can click here to see the full NEAR ecosystem.
The launch of NEAR’s Kenya Regional Hub was one of the big African headlines in May 2022.
NEAR partnered with local Kenyan blockchain community, Sankore, to establish a presence in Nairobi, furthering the NEAR Foundation’s goal of onboarding billions onto the blockchain and empowering individuals to live and prosper as they see fit.
To further drive the adoption of the NEAR blockchain, Web3 Student Clubs, an organization working with students in Kenya, has undertaken a training that seeks to equip students with blockchain development skills to help them build solutions on NEAR.
NEAR has raised significant capital from the likes of Tiger Global, Andreessen Horowitz (a16z), Republic Capital, FTX Ventures, Hashed and Dragonfly Capital, amongst others.
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