NEAR Foundation Introduces New Infrastructure Committee, Allocating $4M for Project Development
In Brief
The NEAR Foundation has taken a significant step by creating an Infrastructure Committee and designating $4 million to back crucial infrastructure initiatives.
The nonprofit organization overseeing the growth of the Proof-of-Stake (PoS) blockchain NEAR Protocol , NEAR Foundation , has announced the formation of an Infrastructure Committee alongside a $4 million budget aimed at bolstering infrastructure initiatives.
The newly initiated Infrastructure Committee is focused on strengthening the core infrastructure of the NEAR Protocol. This includes vital components like bridges, relayers, wallets, indexers, oracles, RPC nodes, and balancers. Additionally, the committee is working to ensure proper visibility of the NEAR Protocol on most decentralized exchanges (DEXs).
Currently, funding has been allocated to five proposals, which encompass improvements to FASTNEAR's infrastructure services including the addition of new RPC nodes and customized endpoints, the creation of a governance committee’s Treasury application, the implementation of Jutsu IDE for an AI development environment, the audit of Ledger integration, and support for the Aurora Web 3.0 wallet.
However, the N EAR Foundation Moreover, it's worth noting that over half of the designated budget is still up for grabs, inviting the community to propose fresh ideas for infrastructure ventures. The Infrastructure Committee is particularly interested in projects that involve new bridges, specialized relayers, enhanced RPC nodes, unique common endpoints, ICANN-compliant DNS solutions, and the development of new top-level domains.
NEAR Protocol: A Trailblazer in Sharded PoS Blockchain Innovation
The NEAR Protocol is a Layer 1 sharded PoS blockchain recognized for its integrated features, including user-friendly named accounts and account abstraction. It offers developers robust infrastructure assistance for their applications, covering everything from smart contracts to indexers. Furthermore, NEAR Protocol is interconnected interoperability with various other blockchain systems.
Since its inception four years ago, the protocol has impressively executed over 800 million transactions, even reaching peak volumes of more than 13 million transactions in a single day. By the end of March, three leading decentralized applications, namely Hot Wallet, Sweat, and Kai-ching, emerged from the NEAR Protocol based on the count of unique active wallets.
For developers, the onboarding process is seamless, allowing them to craft smart contracts in either JavaScript or Rust. It’s also noteworthy that developers are entitled to 30% of the gas fees generated by the NEAR Protocol.
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