Bittime - Last Friday (03/05), Cyber ​​Capital founder Justin Bons posted an attention-grabbing article on Twitter regarding a “neutral” interpretation ofthe NEAR protocol, specifically covering its sharding model and governance mechanisms. In elegant style, let's take a deeper look at NEAR and how its sharding model represents the future of encryption.

What is NEAR? More Than Just Blockchain

NEAR Protocol or better known as NEAR is a blockchain platform that stands out for its sharding model. 

Sharding is a concept that allows for a significant increase in transaction per second (TPS) capacity. With this model, NEAR is on the same path as major platforms such as Ethereum (ETH) and Solana (SOL) .

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Sharding: The Key to NEAR's Success

Source: https://twitter.com/Justin_Bons/ 

NEAR has implemented 6 shards delegated to 467 permissionless validators. One of NEAR's main advantages is its ability to process transactions statelessly, while maintaining dynamic load balancing. 

With the roadmap that has been prepared, NEAR TPS can exceed 100,000 in the next few years. This shows the huge potential of sharding in increasing blockchain scale and performance.

The essence of the sharding concept is “parallelism”. Sharding enables increased capacity by dividing workloads across shards, maintaining decentralization without sacrificing security. 

This concept offers a solution to the so-called “blockchain trilemma”, where NEAR is able to deliver true horizontal expansion.

Criticism and Innovation

However, no system is perfect. Several criticisms of the NEAR sharding model have emerged. First, there are concerns about the security of a single shard. 

NEAR has designed a pretty solid mechanism to address this problem. Second, there are statements that sharding can disrupt composability. However, NEAR manages to maintain perfect composability between shards .

Not only that, NEAR offers several interesting innovations. The unique sharding model and efficient tokenomics are the main attraction. Additionally, NEAR has an on-chain treasury that many other blockchains rarely have.

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The Future of Encryption with NEAR

In an article, Justin Bons stated that NEAR is a step forward in the blockchain technology industry. Compared to Bitcoin and Ethereum which still rely on old technology, NEAR represents the future of encryption. 

Criticisms of NEAR should be considered carefully, while recognizing its potential as one of the major players in the global blockchain industry.

In the increasingly fierce competition in the crypto market, NEAR shows itself to be a participant to be reckoned with. 

Conclusion

By continuing to develop sharding technology and responding to criticism with better updates, NEAR can maintain its position as a leader in the blockchain industry for the foreseeable future.

NEAR is not just a competitor to Ethereum and Solana, but is also a pioneer in realizing the future vision of stronger and more efficient encryption.

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How to Buy Bitcoin (BTC) on Bittime

You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Bitcoin (BTC) on Bittime. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.