NEAR Protocol, a cost-efficient L1 blockchain, has surpassed Ethereum and its L1 peers in terms of Daily Active Addresses (DAA).
NEAR Protocol, a cost-efficient L1 blockchain, has surpassed Ethereum and its L1 peers in terms of Daily Active Addresses (DAA), reaching over 833k as of December 2, 2023. This milestone reflects NEAR’s vision to bring 1 billion users to the Open Web, powered by its innovative features and partnerships.
One of the key drivers of NEAR’s growth is KaiKai, a consumer shopping app that leverages NEAR’s low transaction fees and high scalability. KaiKai allows buyers and merchants to transact directly on the blockchain, without intermediaries or hidden costs. KaiKai is one of the two consumer projects on NEAR that rank among the top 5 by active addresses, along with Sweat Economy, a fitness app that rewards users for exercising.
Both KaiKai and Sweat Economy offer a seamless user experience, thanks to NEAR’s FastAuth, a passwordless onboarding solution that eliminates the need for complex seed phrases or wallets. FastAuth has created more than 20k accounts in six months, making it easier for users to access the Open Web.
Another feature that sets NEAR apart from other L1 blockchains is its native support for meta transactions, which enables users to pay gas fees in any token, not just the native NEAR token. This reduces friction and increases accessibility for users who may not have NEAR tokens or want to use other tokens. The cost of a meta transaction on NEAR is only 0.00133N, which is significantly lower than on Ethereum or Polygon.
NEAR Protocol is committed to providing a cost-effective, scalable and user-friendly platform for developers and users alike. With its growing ecosystem and innovative solutions, NEAR is poised to become a leader in the Open Web space.
References:
https://medium.com/near-starter/near-ecosystem-biweekly-digest-3-79ce0bd9bc8f
https://near.org/eduohe.near/widget/Analytics.FastAuthByDate
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