ETH under fire: Ethereum-2.0-competitor receives $21 million of the crypto-venture capitalists

NEAR Protocol, the self-proclaimed rival of Ethereum 2.0, has raised $ 21 million from Andre shot Horrowitz (a16z) – only a few days after it had announced a Fund of $ 515 million to his Department for crypto investments.

A16z is moving fast in the block chain space

How on 4. In may it was officially announced closed, the NEAR-log of the $ 21 million by a symbolic sale of shares and interests under the guidance of a16z, a crypto-Venture-Fund.
Last week, the Fund announced that its new reserves in the amount of $ 515 million for investment in “high-performance Blockchain”– and Distributed-Protocol-to be determined platforms.
In the financing round along with the previous investors, Pantera Capital, Electric Capital, block change and some new funds were involved.
The project has confirmed the launch of its Mainnets and writes that the developers can now develop block chain-based applications, with the release of native Token for micro-transactions, and Transfers to a later date, it is expected.
NEAR stresses its developer-friendly interface, easier-to-handle directories and skills to the project, and offers as current options to do it. CEO Illia Polosuchin confirmed that the Genesis Block of the project was activated at the end of April 2020.
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“The developers can actually use in production Apps, while the network is decentralized and, finally, in the next months the community will pass.”

Ethereum, Bitcoin, and a lack of progress

The potential rise of the Open Web – a term for the “Economy” of decentralized applications and stateless micro-transactions will be used – and the lack of proper developer tools, to facilitate this, the company of how NEAR arise.
Ethereum, the market capitalization second largest public Blockchain in the world, is used by institutions worldwide, but suffers from a lack of scale, and to peak hours, network congestion.
Although millions of dollars and thousands of hours of work in the development of Open-Source platforms, but overall, it is progressing slowly, sees delays exposed, and suffers from a lack of coordination and spurs even dispute among the main developers.
Both Bitcoin as well as Ethereum are affected by the lack of supervision and unique leadership, which is a major USP of decentralized networks, but also as an obstacle to.
However, the Ethereum developers are working on it. The long-awaited Transition to “Senerity” provides that the Protocol is moved in the direction of a Proof-of-Stake consensus design, and at the same time Sharding on the elimination of imports of the past problems.
Last week, Ethereum has launched a major interoperability Testnet with respect to the Version 2.0, the developers, according to “successfully” and since then no more problems has caused.
The framework of NEAR is for two years in the making and claims to be scalable as Ethereum. NEAR operates his log even at a similar Design as the Ethereum – using “Sharding” to ensure faster confirmation times and fast transactions.
The announcement of the NEAR used the same words as any crypto company, which positioned itself as an Alternative to Ethereum, but it remains to be seen whether the developers give newer public blockchains preference.
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