Will NEAR become the Blockchain Operating System of web3?

Upland: Berlin is here!

The NEAR Protocol’s Blockchain Operating System (BOS) is a new entry into the world of Web3, looking across the blockchain ecosystem and attempting to create a framework that abstracts “flaky” usability and complex user journeys. approach.

Initially announced in October 2022, followed by the launch of the first gateway in May 2023, BOS was initially met with skepticism from the NEAR community and investors. However, it has since gained momentum and is now considered “a game-changer for all blockchains going forward”. according to I described the NEAR protocol in a recent Medium article.

“We not only understand the vision of BOS, but that it provides a unique competitive advantage and is a very positive and strategic move for the NEAR Foundation and Pagoda to go all-in. I can confidently say that we are confident that we will provide a bear market in 2022.”

Simplify blockchain interactions

The NEAR core team claims that ease of use has been a priority since the project’s inception, with the aim of overcoming the complexities and difficulties users often encounter when working with blockchain technology.

By connecting blockchain applications into a “user-friendly pathway,” BOS enables enterprises to create and integrate seamless entry points into their specific use cases within the blockchain, tailored to their application preferences. It aims to hide the underlying complexity from users who experience a streamlined and simplified interface. NEAR describes BOS as follows:

“BOS is an all-in-one solution for connecting users and businesses to applications on blockchain, as if they were using the Internet to browse Amazon clothing.

BOS connects junky and painful worlds. internet of values Use the intuitive and relatively familiar world of the popular Internet (also known as Web 2.0). ”

Showcasing real-world applications

A NEAR article outlines some potential use cases for BOS, including the much-touted “Steam Gaming On-Chain” gateway. This will give you one-click access to any of his Web3 games on NEAR, Ethereum and Solana. The gateway features an in-game item marketplace where users can access over 50 games with no upfront costs and easily play, earn, sell, trade and manage in-game items by paying only $10 a month. There is a possibility that

As anyone who has worked with Web3 dApps will no doubt agree, the current method of using multiple chains and bridges to facilitate cross-chain interactions is far from optimal.

NEAR’s vision is for BOS to further enable a global blockchain account marketplace, allowing users to purchase named identities from any blockchain ecosystem, providing a single domain marketplace for all blockchains. The idea is to

NEAR’s Role in the BOS Ecosystem

NEAR believes that BOS not only simplifies the user experience, but also plays an important role in monetization within the NEAR ecosystem. NEAR tokens serve as a “system-wide anchor” and act as a license or implementation exchange medium between dApps, widgets and gateways. Gateway providers, on the other hand, buy and stake NEAR tokens to cover transaction fees and other user actions that may incur costs on-chain.

“BOS is positioned to open the floodgates to a whole new user base while placing NEAR among the top 10 most important digital assets in the world.”

BOS: A Vision of Interoperability

BOS’ vision is to position NEAR as the central blockchain that connects all other blockchains. This concept has been suggested before, but not in the product stack introduced by BOS. NEAR co-founder Ilya Poroskin explained A blockchain operating system stack looks like this:

“Near Discovery (Featured Gateway: http://alpha.near.org)”
NEAR Social (Contract)
NEAR Onboarding (Fast Authentication)
NEAR data (query API)
NEAR protocol (still L1)”

NEAR believes that OBS is a long-term approach and will take years to fully integrate, but it is hoped that NEAR will eventually build a durable foundation to incorporate multi-chain components and dApps. It states that

BOS presents a promising future, but it is imperative to recognize the potential risks and challenges associated with its implementation. In the article, NEAR clearly pointed out the network effects of Ethereum and the challenges young blockchains like NEAR face in the face of competition.

As BOS continues to develop, its ecosystem of widgets, dApps, and gateways for various blockchain use cases will continue to expand, promising a growing number of daily active users.

NEAR’s BOS aims to transform blockchain interactions through the concept of a blockchain operating system, but overcoming the network effects of other blockchains remains a prominent challenge to success. increase. Across the Web3 ecosystem, NEAR is currently 8th in trading performance 15th place in the last 7 days 7 days volume, 25th place in TVLranked 28th in terms of market capitalization.

chain transaction
Source: DappRadar

Leave a Reply

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