News of NEAR Protocol (NEAR) - June 2024 Price Update - 9.43% Breakout Crypto News and Analysis

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News of NEAR Protocol (NEAR) - June 2024 Price Update - 9.43% Breakout Crypto News and Analysis

On June 19, 2024, NEAR Protocol (NEAR) experienced a significant breakout, surging by 9.43% to reach a price of $5.09. This remarkable price movement has captured the attention of the cryptocurrency community and investors alike. NEAR Protocol, a layerone blockchain designed to be a communityrun cloud computing platform, has been making waves with its unique features and recent strategic developments. The surge in price is a testament to the project's growing influence and the confidence it has garnered in the market. Let's delve into the factors that contributed to this breakout and what it means for the future of NEAR Protocol. The NEAR Protocol has experienced a significant breakout, with its price surging by 9.43% to reach $5.091878727401052 on June 19, 2024. This breakout can be attributed to several key factors that have bolstered investor confidence and expanded the protocol's ecosystem. Let's delve into the reasons behind this price surge, supported by visual evidence to illustrate the impact of each development on NEAR's market performance. Enter key strokes are used to ensure readability and natural transitions in the narrative, while Markdown formatting is applied to embed visuals directly below their corresponding descriptions for clarity and engagement.

NEAR Protocol integrates with DEXToolsApp and partners with DappRadar. The integration with DEXToolsApp and partnership with DappRadar expanded NEAR's ecosystem, attracting new investors. This strategic move not only enhanced NEAR's visibility but also increased its usability, making it more appealing to a broader audience. The collaboration with DappRadar, a leading dApp store, provided a significant boost to NEAR's ecosystem by offering better access to decentralized applications and onchain data.

Major platform integration increasing usability and market reach: Platform integration impact

Communitydriven growth and mass adoption. NEAR's price surge is driven by increased community adoption and activities on its NEAR wallet mining. The community's active participation and the growing number of wallets have significantly contributed to the protocol's overall adoption and usage, reflecting a strong and engaged user base.

Communitydriven growth and mass adoption: Communitydriven growth

Nuffle Labs secures $13M in funding. The spinout of Nuffle Labs, backed by $13 million in funding, underscores the strength of NEAR's modular products and its commitment to decentralization. This funding will enable Nuffle Labs to advance NEAR's modularity offerings and foster more partnerships across the Web3 ecosystem, further solidifying NEAR's market position.

Nuffle Labs secures $13M in funding: Nuffle Labs funding

NEAR.AI's Master Plan for Open Source and UserOwned AGI. NEAR.AI's focus on opensource, userowned AGI (Artificial General Intelligence) is a groundbreaking initiative that empowers users with control and privacy. By starting with AI Developer and AI Researcher, NEAR.AI aims to create AI that belongs to everyone, fostering innovation and collaboration within the community.

NEAR.AI's Master Plan for Open Source and UserOwned AGI: NEAR.AI Master Plan

In conclusion, NEAR Protocol's recent breakout is a result of strategic integrations, communitydriven growth, significant funding for modular projects, and innovative AI initiatives. These developments have collectively enhanced NEAR's market position, attracting new investors and fostering a thriving ecosystem. The visual evidence provided highlights the impact of each factor, offering a comprehensive understanding of NEAR's recent success. In summary, NEAR Protocol's recent breakout is a result of strategic partnerships, communitydriven growth, and significant technological advancements. The integration with DEXToolsApp, partnership with DappRadar, and the spinout of Nuffle Labs with substantial funding have all contributed to this surge. Additionally, NEAR.AI's focus on opensource, userowned AGI has further solidified NEAR's position in the market. As always, it is crucial for investors to conduct thorough research (DYOR) to navigate the complexities of the cryptocurrency

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article avatarKillian Francis

Student

Spot the Main Event:

Their unveiling for open source and user based AGI could’ve caused price surging

📸 Show Us What You Found:

user image answer

Explore the Core.

They’re a chain abstraction that empowers builders to create apps to scale billions of users across all blockchains

article avatarkabiru adinoyi

Student

Explore the Core.

NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. This provides the ideal environment for DApps and creates a developer and user-friendly platform. For instance, NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism called “Doomslug.” NEAR Protocol is being built by the NEAR Collective, its community that is updating the initial code and releasing updates to the ecosystem. Its declared goal is to build a platform that is “secure enough to manage high value assets like money or identity and performant enough to make them useful for everyday people.”

Spot the Main Event:

Nuffle Labs secures $13M in funding to support their growth! The NEAR Foundation announces the launch of Nuffle Labs, a new venture spinning out from Pagoda and the NEAR Foundation. Founded by the core contributors to the NEAR Data Availability Layer (NEAR DA) and the NEAR Fast Finality Layer (NFFL), the NEAR Modular product suite is now spinning out into an independent entity dedicated to improving and amplifying NEAR’s modularity offerings. The new entity has secured $13 million in funding, including a strategic grant from NEAR Foundation and external investment led by Electric Capital. The spinout of Nuffle Labs reflects not only the strength of the core team and the products they are building, but also illustrates the Foundation’s commitment to decentralization by turning core functions over to proven teams in the ecosystem. As an independent team, Nuffle Labs will be better positioned to operate at the forefront of modular blockchain design, nurture its own decentralized community, and forge more partnerships across the Web3 ecosystem. Nuffle Labs will leverage NEAR Protocol’s cost-effective, fast, and proven technology to offer rollups enhanced modularity. It is responsible for two key products in NEAR’s modular suite: NEAR Data Availability (NEAR DA) and NEAR Fast Finality Layer, now Nuffle Fast Finality Layer (NFFL).

📸 Show Us What You Found:

user image answerarticle avatarOluwatosin Bamidele

Trade hard. Joy is coming

Explore the Core.

NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. This provides the ideal environment for DApps and creates a developer and user-friendly platform. For instance, NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism called “Doomslug.”

Spot the Main Event:

NEAR.AI unveils its Master Plan for Open Source and User-Owned AGI (Artificial General Intelligence)! The vision is to create AI that belongs to everyone. Here’s the plan: AI Developer: Teaching machines to code. ✅ AI Researcher: Advancing research with AI Developer. ✅ User-Owned AGI: Bringing AGI to benefit everyone. As a non-profit, the NEAR Foundation is committed to open source. The focus starts with the AI Developer, creating secure applications from user intents, including Web3 apps. This is about empowering users with control, privacy, and customization.

📸 Show Us What You Found:

user image answerarticle avatarAliu adinoyi

Student

Explore the Core.

NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. This provides the ideal environment for DApps and creates a developer and user-friendly platform. For instance, NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism called “Doomslug.” NEAR Protocol is being built by the NEAR Collective, its community that is updating the initial code and releasing updates to the ecosystem.

Spot the Main Event:

Nuffle Labs secures $13M in funding to support their growth Nuffle Labs’ spinout comes with substantial investment, including a strategic grant from the NEAR Foundation as well as funding from external investors including Electric Capital, Canonical Crypto, Fabric Ventures, Robot Ventures, Caladan, and Lyrik Ventures. Notable angel investors include Jordi Alexander (Selini), Blackdragon VC, Bowen Wang (NEAR), Sreeram Kannan (EigenLayer), Sam Kazemian (Frax), Sandeep Nailwal (Polygon), DeFi Dad (4RC), Dovey Wan (Primitive Ventures), and Mert Mumtaz (Helius). With these resources and supporters, the team is well-equipped to advance NEAR DA and NFFL, expand the team, invest in R&D, and build a strong community that spans across NEAR, Ethereum, and beyond. “They’re proud to support the growth of Nuffle Labs as an independent company in the NEAR ecosystem. These 4 excellent co-founders have built first-rate modularity products that showcase the best of NEAR’s technology with NEAR DA and NFFL, providing cost-effective and performant solutions to projects across Web3,” said Illia Polosukhin, Co-Founder of NEAR Protocol and CEO of NEAR Foundation. “We look forward to continued collaboration with the NEAR Foundation as they expand and evolve.”

📸 Show Us What You Found:

user image answerarticle avatarKola Lash

Student, Crypto Enthusiast

Spot the Main Event:

The Near protocol has just released the master plan for open source and user owned Artificial General Intelligence .The vision is to create AI that belongs to everyone, with a focus on : AI Developement: Teaching machines to code. ✅ AI Research: Advancing research with AI Developer. ✅ User-Owned AGI: Bringing AGI to benefit everyone. the NEAR Foundation is committed to open source. The focus starts with the AI Developer, creating secure applications from user intents, including Web3 apps.m, leading to empowering users with control, privacy, and customization

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user image answer

Explore the Core.

NEAR Protocol is a smart contract-capable, public Proof-of-Stake blockchain that aims to act as a community-run cloud computing platform. It is a decentralized application (dApp) platform that focuses on developer and user-friendliness. The protocol strives to achieve this by incorporating features such as 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. NEAR’s native token is also called NEAR, and is used to pay for transaction fees and storage. NEAR tokens can also be staked by token holders who participate in achieving network consensus as transaction validators.

article avatarAbifarin Temitayo

Explore the Core.

NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. This provides the ideal environment for DApps and creates a developer and user-friendly platform.

Spot the Main Event:

NEAR.Al unveils its Master Plan for Open Source and User-Owned AGI (Artificial General Intelligence)! The vision is to create Al that belongs to everyone.

📸 Show Us What You Found:

user image answerarticle avatarOLUWATOSIN GARUBA

Explore the Core.

NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. This provides the ideal environment for DApps and creates a developer and user-friendly platform. For instance, NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism called “Doomslug.”

Spot the Main Event:

The NEAR.AI unveils its Master Plan for Open Source and User-Owned AGI (Artificial General Intelligence)! The vision is to create AI that belongs to everyone. Here’s the plan: ✅ AI Developer: Teaching machines to code. ✅ AI Researcher: Advancing research with AI Developer. ✅ User-Owned AGI: Bringing AGI to benefit everyone. As a non-profit, the NEAR Foundation is committed to open source. The focus starts with the AI Developer, creating secure applications from user intents, including Web3 apps. This is about empowering users with control, privacy, and customization.

📸 Show Us What You Found:

user image answerarticle avatarGLORIA OLUWAFERANMI

To God be the Glory

Explore the Core.

NEAR Protocol is a layer-one blockchain that was designed and built as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability.

Spot the Main Event:

NEAR.AI unveils its Master Plan for Open Source and User-Owned AGI (Artificial General Intelligence)! The vision is to create AI that belongs to everyone. Here’s the plan with a master key highlighted as follows ✅ AI Developer: Teaching machines to code. ✅ AI Researcher: Advancing research with AI Developer. ✅ User-Owned AGI: Bringing AGI to benefit everyone. As a non-profit, the NEAR Foundation is committed to open source. The focus starts with the AI Developer, creating secure applications from user intents, including Web3 apps. This is about empowering users with control, privacy, and customization.

📸 Show Us What You Found:

user image answerarticle avatarAjayi Olushola

Explore the Core.

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.

Spot the Main Event:

1. NEAR is integrated with DEXToolsApp 2. nearhorizon team partnered up with @DappRadar 3. Relaunch of near.ai The roadmap is - Teach machines to code: AI Developer - Using AI Developer, teach machines to do research: AI Researcher - Using AI Researcher, advance science to achieve AGI

📸 Show Us What You Found:

user image answerarticle avatarBankole Oluwamayowa

Web developer

Explore the Core.

NEAR is the chain abstraction stack, empowering builders to create apps that scale to billions of users and across all blockchains.

Spot the Main Event:

The unveiling of their much anticipated near.Ai technology today

📸 Show Us What You Found:

user image answerarticle avatarFemi Adeogun

Donmello

Explore the Core.

NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. This provides the ideal environment for DApps and creates a developer and user-friendly platform. For instance, NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism called “Doomslug.”

Spot the Main Event:

NEAR.AI unveils its Master Plan for Open Source and User-Owned AGI (Artificial General Intelligence)! The vision is to create AI that belongs to everyone. Here’s the plan: AI Developer: Teaching machines to code. AI Researcher: Advancing research with AI Developer. User-Owned AGI: Bringing AGI to benefit everyone. As a non-profit, the NEAR Foundation is committed to open source. The focus starts with the AI Developer, creating secure applications from user intents, including Web3 apps. This is about empowering users with control, privacy, and customization.

📸 Show Us What You Found:

user image answer

Overview

NEAR Protocol is a layerone blockchain designed as a communityrun cloud computing platform. It aims to overcome limitations such as low transaction speeds, low throughput, and poor interoperability, which are common in competing blockchains. NEAR provides an ideal environment for decentralized applications (DApps) and focuses on creating a developer and userfriendly platform. Unique features like humanreadable account names and the "Doomslug" consensus mechanism set NEAR apart in the crowded cryptocurrency market.

Key Features

HumanReadable Account Names: Simplifies user interaction compared to cryptographic wallet addresses. Doomslug Consensus Mechanism: Enhances security and performance. Nightshade Sharding Technology: Improves transaction throughput, achieving up to 100,000 transactions per second. DeveloperFriendly Tools: Modular components for quick project initiation, supporting languages like JavaScript and Rust. Low Transaction Fees: Nearzero transaction costs make it economically viable for various applications.

Use Cases

Decentralized Applications (DApps): Faster transaction speeds and lower fees attract developers and users. NonFungible Tokens (NFTs): Userfriendly environment and low costs foster NFT creation and trading. Open Finance (DeFi): Scalable and secure platform supports efficient DeFi applications. CrossChain Interoperability: Facilitates seamless asset transfer and interaction across different blockchain ecosystems.

Recent Developments

Partnerships: Collaborations with DappRadar, DEXTools, and Arcana Network to enhance ecosystem functionality. Technical Advancements: Introduction of Nightshade sharding and integration with Stargate Finance V2 and OKX Wallet. Community Initiatives: Launch of NEAR's Master Plan for Open Source and UserOwned AGI, and active community engagement through events and discussions. Ecosystem Growth: New projects and integrations, such as Nuffle Labs and Chain Abstraction Day, expanding the NEAR ecosystem.

Market Impact

Increased Adoption: Userfriendly features and low transaction fees drive higher user adoption and developer interest. Enhanced Ecosystem: Recent partnerships and technical advancements position NEAR as a competitive player in the DeFi and NFT markets. Scalability and Performance: Nightshade technology and Doomslug consensus mechanism provide a robust infrastructure for future growth.

Risks and Opportunities

Risks

Technical Issues: Recent glitches with the NEAR wallet have led to asset losses, raising concerns about reliability. Market Competition: Intense competition from other layerone blockchains like Ethereum and Solana.

Opportunities

Innovative Solutions: Unique features like Nightshade and Doomslug offer significant advantages in scalability and performance. Community Support: Strong community engagement and active development foster a supportive environment for growth. Expanding Use Cases: Increasing adoption in DeFi, NFTs, and crosschain interoperability presents numerous growth opportunities.

Community Engagement

Active Community: Regular events, discussions, and updates keep the community engaged and informed. Supportive Ecosystem: Initiatives like grant programs and hackathons encourage developer participation and innovation. Social Media Presence: Active on platforms like Twitter, Telegram, and Discord, fostering a vibrant and interactive community.

Conclusion

NEAR Protocol presents a compelling investment opportunity with its innovative approach to scalability, userfriendliness, and developer support. Recent partnerships and technical advancements enhance its market position, while active community engagement ensures sustained growth. However, traders should consider potential risks like technical issues and market competition. Overall, NEAR's unique value proposition and expanding ecosystem make it a noteworthy contender in the cryptocurrency space.

This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.

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