Near Crypto Insanely Under Valued? [Explained for Beginners]

Near Crypto Insanely Under Valued? [Explained for Beginners]

the near protocol one of crypto’s top 20
projects by market cap you’ve probably
heard of ethereum killis salana cardano
avalanche polka dot ethereum’s got a lot
of people trying to kill it well put
near on the list because the protocol
and the team behind it they are working
overtime to make near the most dominant
blockchain for web 3 Big Goal
interesting Tech so today let’s take a
good look at the near protocol break it
down in a way that’s so simple
so easy to explain that even your
grandma you know when she calls you down
for dinner from the attic and ask what
are you doing up there talking about New
Year protocol and before we get started
note that no one has paid us to make
this explainer video the information
that you’ll find here is righted to you
for free for educational purposes this
is not a recommendation for you to go
out and to buy or to sell or to hold
near okay furthermore you can see my
full risk statement on investing in
crypto because investing in crypto is
risky you can lose all your money as
well as my full portfolio disclosures
all the coins I currently own my Venture
Investments all that kind of stuff in
the description on YouTube or the pin
comment on X check it out so let’s go
brainstorming for the near year protocol
started in 2017 by two Ukrainian
software developers Alexander scano and
Elia
bolkin scano and
boskin initially conceived of near as an
AI project ahead of the time guys but at
some point they transitioned into
building a network that would compete
against ethereum currently ongoing work
for the near protocol is overseen by the
near Foundation which is a nonprofit
based out of Switzerland so with a main
net launch in 2020 near protocol is a
layer one blockchain that provides a
smart contract platform for the
development of decentralized application
in this way near is functionally the
same as ethereum salana Avalanche all
the other major layer one smart contract
platforms with all of these protocols
users can thus engage in activities that
range from Finance to gaming to
nfts identity
management all the usual kind of use
cases you see for layer one blockchain
okay but where near separates itself is
by providing a high number of
transactions per second on the cheap
important nearer developers realized
early on that ethereum would struggle
with congestion and high fees as more
users join the network which is exactly
what is happening why ethereum is going
the layer 2 route right now so they saw
an opportunity to build a network with
the same
functionalities but one that could
actually handle the higher level of
economic activity case in point take a
look at n’s performance metrics compared
to ethereum and salana near currently
processes up to 4,000 transactions per
second which is pretty damn good and
they can do it for about a penny per
transaction which is also pretty damn
good with transaction settlement
occurring at about two seconds which is
pretty damn good these metrics blow
ethereum out of the water and they’re
kind of getting pretty close to you know
salon’s heels there so if blockchains
truly are the future of Finance then
protocols like near will be essential
for onboarding the world’s users with
regards to the technicals like most
other layer one smart contract
blockchains near protocol uses a proof
of stake consensus mechanism for network
security AKA you take your coins you st
your coins get rewards okay has no big
computers uh like with Bitcoin however
nears proof a stake mechanism has two
variations that distinguish it from the
rest the first is called Doom slug I
like the name guys cool now super Metal
anyway aside from being the most metal
name in crypto for a nerdy Tech thing
Doom slug is a unique voting technique
between nears validators that basically
work to expedite block production thus
Doom slug is responsible for near to 2
second transaction finality time the
second variation is called Nightshade
which is near protocols sharding
mechanism by the way these these devs
super nerdy I want hang out with these
guys anyway with Nightshade near
validators process transactions in
parallel across four different shards or
segments of near Network each Shard can
currently process a th000 transactions
per second which is why near is
currently achieving total of 4,000
transactions per second currently near
protocol has 222 active validators
securing the network the minimum amount
a validator must stake to perform this
function is 26,000 near tokens or
approximately
$164,000 at the time record the video
finally near protocol does use slashing
which helps to ensure that near
validators are economically incentivized
IED of course to behave accordingly
something you see with most major staken
protocols near protocols native token
near has three use cases first it helps
to skare the network via n’s proof of
stake consensus mechanism two it’s used
to pay for transaction fees on the
network and three it’s used for
governance an initial supply of 1
billion tokens were created back in 2020
about 23 % of these tokens were
allocated out of course to those early
investors 24 going to the team and the
foundation 40% out to ecosystem
development and the remaining 12% going
towards a community sale these 1 billion
tokens have been progressively released
into circulating Supply since 2020 so
more tokens in the market it’s good news
in fact the good news is that about 90%
% of these tokens have already been
released with just the remaining 10% set
to be released by late 2025 so this is a
coin that’s near full circulation which
is a positive thing now before we
continue on to the next part of this
video let me just interrupt the flow
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description on YouTube or the pinned
comment on X now what about n’s
ecosystem let’s talk about it let’s talk
about the key Partnerships too one of
the best ways to try to measure the
overall health of a protocols ecosystem
is by looking at the amount of total
value locked on the network itself
how much money are people literally
putting on chain because Money Talks by
this metric near comes in Ninth Place
compared to other smart contract
blockchains which is not that bad to be
honest however if we sort by the total
number of unique wallets that have
interacted with the near blockchain the
near comes in first place with 8.21
million addresses that have used the
protocol in the last seven days now
total history they’re not one but that’s
still pretty impressive closest
competitor is with 2.17 million
addresses and that’s polygon the total
number of unique address wallets
basically indicates how widely the
protocol is being adopted compared to
other networks it’s looking pretty
interesting right now so why is it that
near protocol is blowing away the
competition with regards to user
adoption well it appears that the kai
Ching dap is largely responsible for
much of near success all it takes is one
killer app doesn’t it Kai Ching is an
application that allows users to search
shop and to pay for goods in crypto
which is pretty gosh darn cool and it
appears that approximately half of the
active Wallets on near are using kaai
Ching n’s second most popular dap is hot
game the names of these things I love it
which is actually a crypto wallet that’s
uh compatible with both Telegram and
with near and and in third place Comes
The Sweat economy a move to earn app
that lets users earn crypto the more
that they go and work out and walk
around and stuff like that which is
pretty gosh darn cool about 783 th000
users access sweat economy via the near
network over just the last week now
overall near has a total of 96 daps
which puts it outside of the top 20
blockchains by total deployed daps right
now we’re seeing just a couple of daps
getting all the users I could do a full
video on n’s Partnerships near protocol
has entered into deals with some of the
biggest names in web too it’s quite
remarkable and definitely noteworthy
Google Alibaba for example near has
multiple deals going on with other
crypto-based projects as well including
polygon arbitrum igen labs and finally
staying true to its AI Origins it does
appear that the near blockchain will
soon be making some big announcements
with regards to the integration of
artificial intelligence within the near
protocol Thumbs Up Guys good job it’s
not clear exactly how this is going to
take shape but definitely something to
keep an eye on moving forward
considering how hyped AI has been and I
think will continue to be for the rest
of the decade to be honest concerning
Venture Capital Investments it’s thought
that newor protocol has raked in an
impressive 1.1 billion dollars over
roughly 15 different funding rounds some
of crypto’s most famous and uh
influential investors have their names
on the list here including Republic
Capital hashed dragonfly as a few
examples so what about risks and
opportunities the first risk that I see
is near seems to lack a really super
defining narrative right now is it an
ethereum killer is it an emerging AI
blockchain is it a premier programming
platform for the develop M of different
decentralized applications and all that
kind of
stuff something else all the above well
it seems to be all of these things
currently so this vibe that near has its
hands in a lot of different pies seems
to maybe create a bit of confusion as to
what exactly this protocol is really
deeply about and where it’s headed maybe
they’ll get that Vision better focused
moving forward the other major risk is
that the near Foundation of course holds
a huge amount of the near tokens but I
don’t think they’re going to be Market
dumping them or anything like that but
they will be dishing out a lot of these
coins over the next few years in order
of course to try to Spur further Network
development get developers hey here’s
million year coins come build on our
Network and do some daps and stuff with
regards opportunities near impressive
performance metrics combined with solid
user adoption numbers and Partnerships
and all that kind of stuff tell me that
this protoc call is definitely
interesting and has some real potential
behind it is worth paying attention to
but they need to get some more big daps
Beyond just a couple because that’s a
risk for them just having so many users
in just that one dap with half the users
on the Chain they need more killer
applications now in addition to the fact
that the market cap is still below $10
billion tells me that there could be
some interesting value here for near But
ultimately it all really depends on how
the protocol and the user adoption
statistics continue to develop over the
next few years thanks for watching

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00:00 Background
00:25 What is NEAR Protocol
01:12 Technicals
05:34 NEAR Token
07:10 Ecosystem and Partnerships
10:40 Risks and Opportunities

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Disclaimer
Everything expressed here is my opinion and not official investment advice – please do your own research before risking your own money. Lark Davis (The Crypto Lark and affiliated brand Wealth Mastery) is not providing you individually tailored investment advice. Nor is Lark Davis registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. Lark Davis is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.