NEAR Protocol already boasts a substantial decentralized application (DApp) ecosystem despite its mainnet genesis being completed just over two years ago. A an important portion of this ecosystem is unique and belongs to the NEAR blockchain.
Because most of them are primarily focused on transferring value on-chain through various methods, the vast majority of its decentralized applications (DApps) fall under the DeFi umbrella. However, it is also beginning to be utilized by non-fungible token (NFT) projects and gaming niches due to its technology’s ability to provide additional value to enthusiasts of non-fungible tokens and gaming.
In this section, we will explore some of the most popular projects currently being developed on NEAR.
Top dApps on NEAR Protocol
A swift rundown of the top decentralized applications (DApps) currently available on NEAR. This quick guide will lead you through the Top decentralized applications (DApps) currently being developed on the NEAR Protocol.
1. NEAR Crowd
The NEAR Crowd is a program that enables users to earn NEAR by completing minor tasks. While tasks are provided and rewarded by a centralized entity known as the Requestor, NEAR Crowd significantly reduces the Requestor’s control and shifts it to the community instead. The Requestor specifies what each task entails. The community determines whether each task is executed correctly and according to the specifications. They achieve this by establishing a set of rules, checks, and balances enforced by a smart contract deployed on NEAR.
After fulfilling at least 20 tasks, participants can withdraw their rewards to their NEAR wallet if they have at least an 85% success rate. Specifically, the system keeps track of each participant’s number of completed and unsuccessful assignments. To withdraw the payments, the number of completed tasks must be at least 8.5 times greater than the number of failed assignments.
2. Ref Finance
The project is a versatile DeFi platform operated by the community and constructed on the NEAR Protocol. Ref extensively utilizes the low fees, rapid finality (between one and two seconds), and WebAssembly-based runtime offered by NEAR.
In addition to the benefits that arise from being built on top of NEAR, Ref Finance offers the following:
One contract encompasses multiple pools.
Transactions involving atoms.
Customizable pool fees.
The first product that Ref Finance has launched is an automated market maker (AMM). Users can exchange tokens using the automated market maker (AMM) exchange and stake REF tokens to earn additional REF tokens.
3. Learn NEAR Club
The Learn NEAR Club is an all-encompassing hands-on onboarding platform for NEAR Protocol. It accomplishes this by connecting NEAR Ecosystem projects to active members of the community through the (L)Earn method.
The NEAR Foundation supports this platform. You’ll find informative articles on the website that break down the most crucial aspects of NEAR. For instance, onboarding tutorials like: “The Best 7 NFT Projects on NEAR,” “What You Can Do On NEAR Protocol?” “What is the NEAR protocol? ” and many other similar topics.
The club offers its members several unique opportunities to learn about the NEAR ecology. Users can participate in training and testing to deepen their understanding of the NEAR protocol.
4. Paras 2.0
The platform Paras is a digital collectibles-focused NFT marketplace. Paras started with digital art cards inspired by real-world trading cards, which have proven durable and timeless since its inception in the 1980s.
The team believes that every physical art form should be preserved and digitized to be future-proofed. As a result, Paras, an all-in-one digital collection marketplace, is poised to expand its asset base to include digital collectibles.
Conclusion
The NEAR blockchain is one of the few blockchains of its kind, featuring an eco-friendly and carbon-neutral protocol and emissions that leave a minimal carbon footprint. Because it is designed to operate via the sharding methodology, NEAR is an extremely scalable network.
As a result, NEAR is a blockchain that is most suitable for the requirements of different industries that want to start developing dApps.
DApp development has transformed the way businesses operate by providing a new level of transparency, security, and decentralization. By leveraging blockchain technology, DApps enable businesses to streamline their operations and eliminate the need for intermediaries, resulting in reduced costs and faster transaction times. Additionally, DApps provide a tamper-proof and immutable record of all transactions, which helps to foster trust and confidence among stakeholders. Overall, the adoption of DApps has enabled businesses to enhance efficiency, cut costs, and improve the overall user experience.
