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NEAR: The Future Blockchain Operating System Redefining Web3

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NEAR: The Future Blockchain Operating System Redefining Web3
NEAR: The Future Blockchain Operating System Redefining Web3

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NEAR is a groundbreaking blockchain operating system redefining Web3 technology. Featuring scalability, usability, and developer-friendly infrastructure, 

NEAR will revolutionize decentralized apps, enabling seamless user experiences and fostering widespread adoption. NEAR is driving the evolution of Web3 with the dawn of a new era in blockchain technology. 

BOS by NEAR Protocol: Transforming Blockchain for Effortless User Experiences

Blockchain Operating System (BOS) is a new type of operating system created by the NEAR Protocol. Users should be able to use blockchain technology more easily. According to a Medium article by NEAR Protocol, the BOS has gained support and is now considered a game changer for all blockchains. 

The BOS was announced earlier this year, and the first gateway was launched in May 2023. 

We can confidently say that not only do we understand the BOS vision, but that we’re convinced it offers a unique competitive advantage, and an exceptionally forward looking and strategic move for NEAR Foundation and Pagoda to go all-in on, during the 2022 bear market.

NEAR’s core team has focused on making it easy to use since it started. When users interact with blockchain technology, they often face problems and challenges. The NEAR team has always put usability first. 

BOS by NEAR Protocol bridges the gap between blockchain apps and user-friendly experiences, so businesses can seamlessly integrate their use cases into blockchains. 

With streamlined entry points tailored to each application’s preferences, users can interact with blockchain technology with a simplified and seamless interface. NEAR Protocol’s BOS stands out as a pioneering solution in the blockchain ecosystem. 

The BOS is your all-in-one solution, for connecting a user or a business to an application on a blockchain, as if they were just using the internet to browse for Amazon clothes. The BOS connects the janky and painful world of the internet of value with the intuitive and relatively familiar world of the common internet (sometimes referred to as Web2.0).

The NEAR article describes different ways the BOS can be used, like as a “Steam Gaming On-Chain” gateway. Through this gateway, people can access Web3 games on NEAR, Ethereum, and Solana with just one click. 

Also, it could have a marketplace where users can play games, earn rewards, sell, trade, and keep their in-game stuff. You can pay $10 monthly to access over 50 games without paying upfront.

Many users of web3 decentralized applications (dApps) can testify that using multiple chains and bridges to connect different blockchain systems for cross-chain interaction is a complicated and inefficient process.

NEAR wants the BOS to make creating a global blockchain account marketplace easier. This marketplace lets users buy unique IDs from any blockchain ecosystem. A unified platform would let users access and interact with various blockchains from one place.

Besides making things easier for users, NEAR says the BOS helps monetize the ecosystem. DApps, widgets, and gateways will use NEAR tokens for licensing and transactions. 

The gateway providers will need NEAR tokens to cover transaction fees and other costs on the blockchain. Tokens anchor the entire system and facilitate economic activities.

BOS is positioned to project NEAR into the top 10 most important digital assets in the world, while also opening up the floodgates to an entirely new user base.

NEAR’s BOS: Paving the Way for Interconnected Blockchains

The vision of the BOS is to make NEAR the main blockchain that connects them all. This idea has been floated in the past, but BOS offers something different. NEAR co-founder Illia Polosukhin explained the Blockchain Operating System stack like this:

Near Discovery (featured gateway: 

  • NEAR Social (contract) 
  • NEAR Onboarding (Fast Auth) 
  • NEAR Data (Query API) 
  • NEAR Protocol (still an L1)

Apparently, the OBS is a long-term plan that takes years to implement. This will build a solid foundation for NEAR, eventually allowing it to include multiple chains and decentralized applications (dApps).

Although the BOS has a bright future, it’s important to acknowledge the risks and challenges of its implementation. In their article, NEAR specifically mentioned the network effect of Ethereum and the challenges newer blockchains face when competing with established ones.

Each day, the BOS offers more and more tools, applications, and connections for different uses of blockchain, attracting more and more users.

NEAR’s BOS aims to revolutionize how people interact with blockchains. One big obstacle to its success is competing with other blockchains’ network effects.

Source: DappRadar

Currently, NEAR ranks 8th in transactions over the past 7 days, 15th in volume over the past 7 days, 25th in total value locked (TVL), and 28th in market capitalization.

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