NEAR is the altcoin of FOMO like Solana so if anyone makes a call that buying Near, buying Solana now, I will ignore that call.
Cross-chain projects can make you feel comfortable, convenient and like them and it is good from the idea. On the other hand, I am not sure all cross-chain projects are good in terms of security. Many bad projects in crypto and if you use a blockchain from a bad cross-chain project, shit will happen.
You will lose your money. I will try myself to limit my options to top cryptocurrencies only for my transactions.
Topic: Cross-chain future? Why are cross-chain projects growing? (Read 86 times)
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The title is about cross-chain but the whole content is about shilling NEAR. There's nothing new with Aurora EVM. Simply put, it's just a bridge that allows you to migrate your tokens from ETH blockchain to NEAR blockchain. It can't even compare with Solana's "Wormhole". Wormhole connects Sonala vs a lot of blockchain, including BSC, ETH and LUNA. That's not to mention LUNA's Terra Bridge which connects LUNA vs ETH, BSC and ONE. In short, bridges like Aurora EVM are just a short cut to attract money flow from this blockchain (usually ETH) to that blockchain. When people no longer find benefit, they will withdraw their money from blockchains that were bridged into. So far there isn't any bridge that can connect all blockchains out there together. Any project that can do it, it's the ultimate cross-chain.
This is an example of a cross-chain. Now by the way Aurora is starting compatibility with BSC
[...]
The title is about cross-chain but the whole content is about shilling NEAR. There's nothing new with Aurora EVM. Simply put, it's just a bridge that allows you to migrate your tokens from ETH blockchain to NEAR blockchain. It can't even compare with Solana's "Wormhole". Wormhole connects Sonala vs a lot of blockchain, including BSC, ETH and LUNA. That's not to mention LUNA's Terra Bridge which connects LUNA vs ETH, BSC and ONE. In short, bridges like Aurora EVM are just a short cut to attract money flow from this blockchain (usually ETH) to that blockchain. When people no longer find benefit, they will withdraw their money from blockchains that were bridged into. So far there isn't any bridge that can connect all blockchains out there together. Any project that can do it, it's the ultimate cross-chain.
Projects want to make as much profit as possible. That is why they are expanding into other blockchains. Since a lot of newer networks are compatible they can easily port their project over and have access to these growing communites which have seen explosive growth as people seek alternatives with lower fees.
So, we all see the explosive growth of cross-chain projects at this moment. I want to put forward my theory of what this is connected with and what the outcome will be, I also want to highlight several projects in which I trace a huge potential.
The problem of ETH has long been clear to everyone. It is too old and does not have time even for 10% for competitors, POW, huge commissions, slow — that’s its main problem.
At the moment, there are a huge number of other projects that have easily solved these problems and they show explosive growth, let’s take an example of why this is happening.
First, I’ll show you a screenshot that explains almost everything.
As we can see on September 7, there were such commissions on the ETH network, this is not a joke, not photoshop, this is a real screenshot. Users were ready to pay from $ 73 for a simple transaction. All this is due to the problem of scalability of ETH, GAS is formed on the basis of an “auction”, i.e. people are ready to give such an amount of gwei for conducting a transaction.
I don’t know what kind of users they are, probably some billionaires, because an ordinary user simply can’t afford such commissions. All this makes ETH simply unattractive for ordinary users.
The growth of ETH in 30 days is currently 11.3%
Now let’s take a look at cross-chain projects, I suggest considering the growth of Near Protocol, Solana, ADA without a technical justification for each. I will explain why they are growing and we will highlight those that will grow further.
Near Protocol
Solana
ADA
The thing is that these projects are aimed at improving interaction with users, lower fees per transaction, faster blockchain and other features.
Let’s see why Solano has turned into such a powerful rocket. It’s all the fault of DeFi, which became a big push for the development of prices, and also added a huge amount of liquidity to Solano, all this made it just a launch pad for rockets that come out on this blockchain.
This is what technologies that improve the main idea of ETH mean. Of course, Solano has further growth potential, but at the moment many analysts consider it overbought.
Of the three, I would single out Near Protocol, which is now just preparing to take off. He recently made a new ATH and is not going to stop. Its advantage over Solano and other blockchains is that it has 100% compatibility with ETH and when users realize that ETH is in the past, all the liquidity will flow into NEAR.
I studied the project and there are a huge number of advantages, starting from a developed, but still new ecosystem with its own swap’s and IDO, ending with its own EVM and a university for WEB 3.0 developers.
EVM Aurora is an excellent development from the team, it allows you to transfer your tokens and even projects to the NEAR ecosystem without much effort. A very powerful team that worked at Google, Facebook and Microsoft gives confidence that their technologies meet all the requirements and will continue to develop.
Imagine what will happen to NEAR when new DeFi projects appear there. Even now, some of them are collecting 20–30 million dollars for IDO and this is just the beginning. I am sure that this system will develop.
My DYOR assumes that the NEAR Protocol has just started its way to the tops. I think that its price by the end of the year will be about$ 50–70 per token with this approach, which they are currently demonstrating.
This is not financial advice DYOR, but my heart is fully with the NEAR team right now.
The problem of ETH has long been clear to everyone. It is too old and does not have time even for 10% for competitors, POW, huge commissions, slow — that’s its main problem.
At the moment, there are a huge number of other projects that have easily solved these problems and they show explosive growth, let’s take an example of why this is happening.
First, I’ll show you a screenshot that explains almost everything.
As we can see on September 7, there were such commissions on the ETH network, this is not a joke, not photoshop, this is a real screenshot. Users were ready to pay from $ 73 for a simple transaction. All this is due to the problem of scalability of ETH, GAS is formed on the basis of an “auction”, i.e. people are ready to give such an amount of gwei for conducting a transaction.
I don’t know what kind of users they are, probably some billionaires, because an ordinary user simply can’t afford such commissions. All this makes ETH simply unattractive for ordinary users.
The growth of ETH in 30 days is currently 11.3%
Now let’s take a look at cross-chain projects, I suggest considering the growth of Near Protocol, Solana, ADA without a technical justification for each. I will explain why they are growing and we will highlight those that will grow further.
Near Protocol
Solana
ADA
The thing is that these projects are aimed at improving interaction with users, lower fees per transaction, faster blockchain and other features.
Let’s see why Solano has turned into such a powerful rocket. It’s all the fault of DeFi, which became a big push for the development of prices, and also added a huge amount of liquidity to Solano, all this made it just a launch pad for rockets that come out on this blockchain.
This is what technologies that improve the main idea of ETH mean. Of course, Solano has further growth potential, but at the moment many analysts consider it overbought.
Of the three, I would single out Near Protocol, which is now just preparing to take off. He recently made a new ATH and is not going to stop. Its advantage over Solano and other blockchains is that it has 100% compatibility with ETH and when users realize that ETH is in the past, all the liquidity will flow into NEAR.
I studied the project and there are a huge number of advantages, starting from a developed, but still new ecosystem with its own swap’s and IDO, ending with its own EVM and a university for WEB 3.0 developers.
EVM Aurora is an excellent development from the team, it allows you to transfer your tokens and even projects to the NEAR ecosystem without much effort. A very powerful team that worked at Google, Facebook and Microsoft gives confidence that their technologies meet all the requirements and will continue to develop.
Imagine what will happen to NEAR when new DeFi projects appear there. Even now, some of them are collecting 20–30 million dollars for IDO and this is just the beginning. I am sure that this system will develop.
My DYOR assumes that the NEAR Protocol has just started its way to the tops. I think that its price by the end of the year will be about$ 50–70 per token with this approach, which they are currently demonstrating.
This is not financial advice DYOR, but my heart is fully with the NEAR team right now.
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