NEARCON day 2

It is our delight to inform communities about the significant occasion. There isn’t time to watch the live broadcasts again if you can’t attend NEARCON in person. Not to worry, here is the second day’s highlight of NEARCON 2022.

The future of NEAR wallet

The goal of NEAR wallet removes barriers for users. First of all, the NEAR ecosystem will focus on removing barriers. Second, onboarding is one of the major barriers to Web3. Last but not least, time to change the paradigm: use apps, and wallets to manage accounts.

Blockchain’s killer app is logging in and allowing users to exit Web2 with their assets, data, and power of governance. Here is the wallet transition roadmap and strategy:

  • Phase (P) 0 – Community engagement (Now)
  • P1 – Offboard users, enable export account functionalities (Starts October)
  • P2 – A new portal for an array of wallets (Expected to complete in early 2023)
  • P3 – End transaction forwarding
  • P4 – Complete sunsetting of the NEAR wallet

Each phase has a new change, therefore, let’s look forward to updating from NEAR ecosystem

Regional Hubs launch in India and Vietnam

According to the statistic, there are a lot of users coming from many countries and the places with the most users are Vietnam and India. Therefore, NEAR is preparing for a new regional hub that will launch in India and Vietnam. Based in these two countries is the growth and innovation of blockchain talent. The regional center for blockchain talent development and innovation is located in India. NEAR’s participation in the nation intends to shift the focus toward a sustainable and inclusive approach to blockchain development, and the area already has a strong collection of promising young leaders.

In contrast, NEAR and the top venture capital firm GFS Ventures – based in Vietnam – have joined together to build a center for continuing blockchain innovation, training, and talent development across the region. With eight million new digital customers and a tripling of new companies since the epidemic, Vietnam’s digital economy is flourishing. The country ranks fifth out of 154 nations in the Global Cryptocurrency Acceptance Index and aggressively promotes digital transformation and growth. However, when it comes to the proportion of individuals who possess cryptocurrencies, Vietnam comes out on top globally, with one in five residents there (20.3%) doing so.

Grant program mission

Grant program mission

The grants program started in early 2021 with the mission of bootstrapping the NEAR ecosystem with high-quality projects. They distributed $90M in grant funding to the NEAR ecosystem. In the first mission, they are willing to support projects on NEAR. The program over time has scaled in order to deploy capital to a greater number of diverse high-quality projects with over $90M in capital committed for grants.

Secondly, they do everything to raise awareness of NEAR that communicates the avenues of grant funding. Likewise, people can discuss new ideas, integrations, and ecosystem fit. They help onboarding in the ecosystem.

Apart from that, NEAR provides a clear path to decentralization. They will develop the grants programs and funding models within the ecosystem. At the same time, further decentralization will come via regional and community grant giving.

Navigating crypto cycles

At NEARCON 2022, Ryan Selkis who is a co-founder of Messari and Marieke Flament (NEAR CEO) discussed together where we stand in the current crypto cycle, how to prepare for a downturn, and how to move forward. Selkis has experienced the ups and downs of the market for and acceptance of blockchain several times. She said:” Centralized institutions are weaker than ever and there’s transformational potential in a user-owned economy, empowering individuals and building more resilient systems “. At the same time, her idea is ” This is the part of the cycle where protocols will begin to cross the chasm from MVP to mass adoption. And now is the time to think long term about things like how the Web3 tech stack will develop and what a potential cross-chain future looks like.”

The Birth of the movement economy

At NEARCON 2022, co-founder of Sweatcoin Oleg Fomenko gave an explanation of the origins of the SWEAT economy, the significance of the NEAR blockchain, and the future of the move-to-earn economy. In 2015, Sweat has started with the original name “Sweat Coin”. They were processing several hundred transactions per second within a year while the maximum capacity of Ethereum is 15 seconds. Now they are at 120M users which is absolutely incredible. Especially, people who install Sweatcoin app are 20% more active after installing their application. Now they’re number one on the App Store in over 66 countries with over 120 million users. In addition, they are number one in 66 countries.

How NEAR and SailGP are Revolutionizing Professional Sport

According to Coutts – SailGP’s CEO, “SailGP as a brand and offering is predicated on both being interesting and data-driven.” “We leverage billions of data points generated by our boats every day to enhance the fan experience. Working with NEAR to combine Web3 and the blockchain makes sense since we have always been technology-focused”.

One of the most intriguing elements of the cooperation, according to Flament, is how NEAR is now assisting SailGP in facilitating a racing team that is owned and run by a DAO. Coutts shared this enthusiasm, imagining the DAO’s decision to function in a variety of ways that may boost fan involvement.

Ecosystem updating

  • Pagoda Console is a one-stop tool store that provides developers with everything they need to create limitless Web3 apps.
  • Switchboard joins NEAR’s multichain to provide developers with the greatest resources and information for their applications.
  • First NFT Marketplace for Social Impact Organizations developed by Fayyr on NEAR.
  • Chainstack, a leading blockchain managed services provider, launched support for NEAR on its platform.
  • A grant from the Near Foundation helped Contented Media Group (CMG) build a Web3 platform where businesses can communicate with content producers.
  • Bitstamp listed NEAR token on its exchange.

Conclusion

All initiatives and audiences with an interest in the NEAR ecosystem will congregate at NEARCON 2022. The ecosystem’s inhabitants will become more unified and comprehend one another better as a result of this occurrence. NEARCON had four primary themes on day two: Layer 1 stage, Doomslug, Nightshade stage, and Proof of sound stage.

You can visit here for quick skimming if you don’t have enough time

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