Lisbon, NEARCON: The NEAR Foundation today announced the rollout of the NEAR Data Availability (NEAR DA) layer, a breakthrough innovation that provides robust, cost-efficient data availability for developers building Ethereum rollups.
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Launched with Madara by StarkNet, Caldera, Fluent, Vistara, Dymension RollApps and Movement Labs as its first adopters, NEAR DA’s entry into the data availability landscape builds on the NEAR Protocol’s three-plus years as an established, secure and reliable blockchain with 100 % uptime.
NEAR offers all the guarantees of a scalable Layer 1 network that is also more cost-effective than other DA solutions. For example, posting merge data on NEAR would be 8,000 times cheaper than posting on Ethereum.
Designed to scale Ethereum cheaply and reliably, NEAR DA provides immediate benefits to Web3 founders exploring the modular blockchain development landscape. The new tier supports Ethereum L2s that want to continue building on ETH without the high costs of posting data. It will also support high-end projects that want to launch an app chain or an L2.
The negligible, predictable gas costs and cost-effectiveness of NEAR DA allow developers to build more accessible applications for their end users.
As of September 2023, putting 100 KB of call data on Ethereum L1 for optimistic rollups would cost approximately $26.22, while putting the same amount of data on the NEAR Protocol would cost $0.0033. Projects can pass these benefits on to their user base while remaining integrated with the broader Ethereum ecosystem.
Illia Polosukhin, co-founder of NEAR Protocol, said: “Offering a data availability layer for Ethereum rollups highlights the versatility of NEAR’s technology while helping founders across Web3 deliver great products that bring us closer to mainstream adoption of the Bringing Open Web.”
“NEAR’s L1 has been live for over three years with 100% uptime, so it can provide true reliability to projects looking for secure DA while being cost-effective.”
Illia Polosukhin, co-founder of NEAR Protocol
“NEAR offers great solutions to developers no matter what stack they build on, and now that includes Ethereum’s modular blockchain landscape,” said Illia.
By opening its blockchain to data availability, NEAR Protocol is expanding its offering to deliver a modular blockchain development framework that allows Web3 developers and founders to continue building on Ethereum while leveraging NEAR’s state-of-the-art technology for part of the pile. depending on their requirements.
NEAR DA extends the capabilities of NEAR’s Open Web Stack, a common access point where both developers and users can easily build, browse, and discover Web3 products and platforms. This includes FastAuth onboarding to an account in seconds without the need for any crypto or seed phrases, as well as the ability to create decentralized frontends from a library of thousands of components.
Developers and founders building on Ethereum combinations and interested in using NEAR DA can visit near.org/data-availability to get started.
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About the NEAR Foundation
The NEAR Foundation is a Swiss-based nonprofit organization whose mission is to enable community-driven innovation for the benefit of people around the world. One of the key areas of focus is the NEAR ecosystem, which includes a fully operational decentralized Blockchain-based platform for building decentralized applications.
NF carries out its mission primarily through the allocation of support and resources to other nodes in the nearby ecosystem, rather than through direct intervention or operations.
NF’s ultimate goal is to minimize its own scope and footprint by continuing to distribute functions and resources within the ecosystem; and support the development of decentralized infrastructure necessary to enable these ecosystem functions to function in a self-sustaining manner. For more information, visit the website, follow us on social media or join our communities:
NEAR X Foundation/Twitter: @nearprotocol
NEAR Foundation Telegram: @cryptonear