NEAR Protocol - The Finest Blockchain Network To Build NFT Marketplace Platform

As the Crypto wave is drifting towards the NFT trends, the launch of many new NFT projects is happening very often. With such a demand for creating NFTs, the blockchain networks with high performance rate is more likely to be a mainstream Blockchain network for NFT Development. This is where NEAR Protocol enters the competition and has now become a significant network in developing NFTs and Marketplace platforms.
In this blog, we’ll see how NEAR protocol is now ranked as the top blockchain network for NFT 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.

How Does NEAR Protocol Works?

In order to enhance the network’s performance and make it more faster and cheaper than several other Blockchain networks, NEAR Protocol uses a wide range of programming languages and tools. In that list, first comes the Proof of Stake (PoS) consensus mechanism which helps in making the network more secured. Some other major methodologies that are significant in NEAR Protocol functioning are as follows.

NightShading

This sharding technique splits the task of processing the transactions into multiple nodes and each will process a portion of transaction, thus results in processing the data more efficiently. 

Rainbow Bridge

This application on NEAR network is mainly used to let the users easily transfer NFTs, Ethereum tokens and stablecoins from Ethereum blockchain to NEAR blockchain. Such transactions on NEAR will take place in less than 3 seconds that too with lower transaction cost when compared to that in Ethereum network.

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.

Is NEAR a Good Investment in 2022?

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. Apart from the above mentioned factors, next comes some intriguing statistics about NEAR protocol that would give a clear view on the growth of NEAR blockchain network and help you understand how NEAR Protocol would be a wise choice of investment.

Stats About NEAR Ecosystem

• The active members of NEAR network has raised from 1.1M to about 15M in a short period.

• 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

• The NEAR coins are at a maximum supply of 1Billion, out of which only 200M NEAR coins are left to be issued as rewards for staking

Top 5 NEAR NFT Projects in 2022

Below mentioned are the popular NFT projects that are built on NEAR Protocol

1. Paras

2. Mintbase

3. OP Games

4. DAO Records

5. Satori

NFT Marketplace Development On NEAR Protocol

After knowing about the lucrative facts of NEAR Protocol, no wonder if you have made up your mind to invest in NEAR NFT Marketplace Development. Foreseeing the business benefits of NFT Marketplace Development on NEAR Protocol, Developcoins as a leading NFT Marketplace development company have started providing a wide range of NFT solutions on NEAR Protocol. Below mentioned are some of the services that we offer by leveraging NEAR blockchain network.

• NEAR NFT Marketplace Development

• NFT Development

• NFT Game Development

• Dapp Development on NEAR Blockchain

Benefits of Our NEAR NFT Marketplace Development

Below mentioned are some of the major benefits that our NFT Marketplace development on NEAR protocol offers.

• Highly sustainable

• Low transaction fee

• Interoperability

• Attractive user interface

• Enhanced security features

• Improved throughput

Why Developcoins Is The Best Place For NEAR NFT Marketplace Development?

As a pioneer in the NFT industry, the expert developers of Developcoins have immense knowledge in extensive Blockchain networks and are capable of offering novel NFT solutions that are suitable for various business verticals. To build your own NFT Marketplace platform on NEAR and benefit from all the utilities that are offered by NEAR protocol, get in touch with our experts now.