• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

3v.org

Venture Capital Matters

  • Pitch a Startup
    • Make a Contribution
  • Market Reports
  • Technologies
    • Technology Events
  • Domain Names for Startups
  • About
  • Contact

NEAR Protocol Project Raises $21.6M Round led by Andreessen Horowitz and Launches MainNet to Bring Open Web Business Models to Founders Everywhere

May 4, 2020 By admin Leave a Comment

Global Open Source Project Launches Web-Scale Decentralized Application Platform

The team behind the NEAR Protocol, a decentralized application platform, today simultaneously announced the completion of a $21.6M funding round led by Andreessen Horowitz’s crypto fund and the early launch of their production MainNet network so developers can begin deploying applications to the platform immediately.

NEAR is a decentralized application platform backed by a public blockchain which is optimized for programmability so developers can easily build, test and deploy applications which permissionlessly handle a wide range of digital assets.

“NEAR’s technology allows Stardust to scale to millions of users without having to worry about infrastructure limitations or costs. Without NEAR, Stardust’s business model could not work,” said Canaan Linder, founder and CEO of Stardust, a project built on NEAR which allows game developers to quickly add revenue-generating economies for their apps.

Where Bitcoin introduced the idea of digital money and Ethereum provided a proof-of-concept for how that money can be programmed to create open financial networks, NEAR provides the scale and programmability to allow *any* data — whether digital currency, karma, gaming items or stock certificates — to become a fully portable, programmable and tradable asset. The resulting ecosystem of permissionlessly composable components, called the Open Web, allows the blockchain technology to finally realize its full potential to change the way the Web operates.

As detailed in a post on the NEAR Protocol blog, this release is the first stage of the MainNet rollout, which is intended to allow developers to begin building on the network while it is scaled out to a broader group of validators and before tokens are unlocked for transfers.

“Genesis occurred at 2020-04-22 18:00:00 UTC and, while there’s still lots of work to do, this means that developers can actually deploy production apps while the network gets more decentralized and is ultimately handed off completely to the community over the next several months” said Illia Polosukhin, Cofounder and CEO of Near Inc, one of the organizations behind the NEAR Protocol.

The fundraise also included participation from Pantera Capital, Electric Capital, Blockchange, Libertus Capital and Distributed Global. The new funds will be used to drive an ambitious rollout strategy which will result in the platform becoming community-governed by putting tokens into the hands of a million developers and entrepreneurs around the world.

Developers who are interested in building applications on MainNet should get their accounts at near.org/developer-program and follow the quickstart at docs.near.org. Teams who are ready to build should join the Open Web Collective, a platform-agnostic program that helps teams building the decentralized web to accelerate their progress and get funding.

About the NEAR Protocol

NEAR’s mission is to enable community-driven innovation to benefit people around the world. NEAR’s platform provides decentralized storage and compute that is secure enough to manage high value assets like money or identity and performant enough to make them useful for everyday people, putting the power of the Open Web in their hands.

Technically speaking, NEAR Protocol is a brand new public, proof-of-stake blockchain which is built using a novel consensus mechanism called Doomslug. NEAR Protocol uses a technique called “sharding” which splits the network into multiple pieces so that the computation is done in parallel. Parallelism radically increases throughput and allows the network to scale up as the number of nodes on it increases. With NEAR, there isn’t a theoretical limit on the network’s capacity.

NEAR core contributors have won multiple world championships in competitive programming and worked at major tech companies such as Google, Facebook and Niantic. To learn more about the NEAR Protocol, please visit near.org

Filed Under: PR

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Market Analysis

Cloud Computing Market: Now is the Time
AltCarne is the New Meat
Low-carbon fuels will be essential for decarbonization
The U.S. is behind China on hypersonic weapon technology
How to sell across a variety of channels
Wearable IoTs
eWaste Reclamation: Electronic waste is a huge problem

Market Research Media

APIcoding.com (API coding): Ten API-based project ideas
Revenue from the metaverse is expected to reach $800 billion in 2024
The current market value for AR/VR/MR is around $30.7B, and the worldwide market may rise to $300B by 2024
FashionInfluential.com (Fashion Influential): Fashion Industry Trends
Russian oil production succumbing to the impact of Western sanctions
NFTphotomarketplace.com: NFT Photo Marketplace
OpInt.com (Operational Intelligence): Tailored project delivery intelligence reduces risk

Secondary Sidebar

Technologies

The event showcases emerging technologies that are disrupting and transforming industries
Quantum supremacy is not the milestone we should care about
U.S. solar manufacturing missing a window of opportunity
Quantum computing can generate $450-$850 billion in value in the next 15 to 30 years
BIRD – Israel-U.S. Binational Industrial R&D Foundation to invest $7.9 million in 9 new projects: The approved projects, with an overall budget of $20 million, involve innovations in the areas of Drones, Energy Efficiency, Environment Protection, Medical Devices, Pharma, Software and AI

Tech Events

PIE Astronomical Telescopes + Instrumentation Symposium, 17-22 July 2022, Montréal
Wolves Summit, the largest tech event in Central and Eastern Europe, March 24, 2021
Optical Fiber Conference, OFC 2022, taking place at the San Diego Convention Center from March 6-10, 2022
The Linux Foundation Launches LF Live: Mentorship Series
Tech Conference Line Developer Day 2021, November 10-11, 2021

Footer

Recent Posts

  • Breakthrough VR Basketball App Gym Class Closes $8 Million in Seed Round Led by Andreessen Horowitz
  • Techstars and Audi Launch Pre-Accelerator Program to Promote Innovation in Mobility
  • Latchel Closes $16.7 Million to Enhance Resident Services and Maintenance Workflow
  • Seedtag raises over €250M from Advent International
  • Arable Raises $40 Million to Accelerate Sustainable Agriculture
  • European Quantum Computing Leader IQM Raises €128m Led by World Fund to Help Combat the Climate Crisis
  • Whatnot raises $260M Series D co-led by DST Global and CapitalG to expand its live, social commerce marketplace
  • ZeroAvia Secures Additional $30 Million in Funding from IAG, Barclays, NEOM & AENU
  • Medusa Raises $8m to Build the Leading E-Commerce Platform for Developers
  • Blue Ocean Barns Completes $20 Million Series A Financing, Accelerating Solution to Agricultural Methane Emissions

Dossier

Future of the traditional classroom-based MBA vs online
Mobile monetization firm IronSource will go public through SPAC at $11.1 billion valuation | VentureBeat
MPCC orders two carbon-neutral 1,300 TEU newbuildings in partnership with industrial group Elkem and North Sea Container Line
IBM Appoints Martin Schroeter as CEO of “NewCo” Independent Managed Infrastructure Services Business to Spin Out from IBM
MGN Logistics Acquires California Based Niche Freight Brokerage

Press Media Release

American Legion hails start of Operation Allies Refuge, Calls for Evacuations to Pick Up Pace
Texas A&M University System Regents Approve $70 million Engineering Building for Prairie View A&M University
July 12 Summit Showcases Lab-Embedded Entrepreneurship Program
Bezos Earth Fund Announces First Commitments to Marine Protection at UN Ocean Conference
United Steelworkers Honour Westray Disaster 30 Years Later, Push for Enforcement of Law

App Coding

New app to help northeastern Illinois drivers avoid traffic and earn rewards for improving their commute
Coder Announces First Multi-Cloud, Multi-Compute Integrated Development Environment Platform
Distraction-free coding
NLP techniques are bridging the gap between text documents
Platform.sh Secures $140 million in Series D Funding to Support Enterprises in Scaling Fleets of Websites and Applications

API Coding

WSO2 Completes $93 Million Series E Growth Funding Round with the Investment from Info Edge
Fintech AI Leader Photon Commerce Partners With Identifee to Enable Banks to Instantly Digitize and Analyze Statements
Most commonly used HTTP Headers
Neosec Introduces Industry First Expert Managed Threat Hunting Service for Detecting and Investigating API Abuse and Vulnerabilities
Types of API Testing

Copyright © 2022 3v.org

Technologies, Market Analysis & Market Research

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT