As the Crypto wave is drifting towards the NFT trends, the launch of many new NFT projects is happening, especially in the NEAR blockchain protocol. Now let us explore the basic facts about NEAR protocol and what makes NEAR protocol a better blockchain network for NFT marketplace platform development.
What is NEAR Protocol?
NEAR Protocol is a layer-1 blockchain network launched as a decentralized cloud in 2020 with a main objective to host decentralized applications. This protocol uses a unique sharding method called NightShade in order to address the scalability challenges faced in other blockchain networks. With its reliable sharding technology, the NEAR protocol is in an attempt to compete against Ethereum networks and promises to be a better Blockchain network than Ethereum in many ways.
What Makes NEAR Protocol A Better Blockchain Network?
When compared to some of the major blockchain networks that are used as a mainstream technology in NFT Development, NEAR protocol offers a better throughput and a lesser transaction cost. Hypothetically, this NEAR protocol could handle millions of transactions simultaneously without affecting the network’s performance. The PoS consensus mechanism used in this network helps in attaining a highly scalable as well as a secured platform that enables fast minting and reliable trading NFTs.
Future Scope of Building NFT Marketplace on NEAR Protocol
As the craze for NFTs continues to advance, it would be a good investment choice to develop NFTs and marketplace platform on NEAR protocol. As it offers extensive useful elements, the NEAR protocol would be beneficial for both the investors and users in many ways. The total number of active users of NEAR network has raised from 1.1M to about 15M in a short period. And this network has raised a fund amount of $400 M within a year from its launch. The all-time high market cap of NEAR network is $12.39 B, i.e about $20.02 per NEAR coins. Considering these factors, obviously the NFT Marketplace Development on NEAR protocol will be a wise choice of investment.
How To Build NFT Marketplace On NEAR Protocol?
Foreseeing the potential of NEAR protocol, Developcoins as a leading NFT Marketplace development company offers the best NEAR NFT Marketplace Development services. To explore more about the perks of building NFT marketplace platform on NEAR protocol, get in touch with the experts at Developcoins.
