NEAR Foundation rolls out NEAR Data Availability layer

NEAR Foundation has successfully introduced the NEAR Data Availability (NEAR DA) layer. Being a segment of the NEAR Open Web Stack, NEAR DA is a landmark innovation providing healthy and cost-effective data accessibility with regard to ETH rollups and Ethereum developers.

NEAR DA is being delivered with the engagement of some first-time users like Madara by Caldera, StarkNet, Vistara, Fluent, Dymension Rollups, and Movement Labs.

NEAR DA makes it possible for ETH rollups and Ethereum to enter the market at lower costs and with more reliable data availability. From that date forward, in September 2023, 100kB of calldata will cost $0.0033. Concurrently, comparable calldata on Ethereum L1 will cost consumers $26.22, representing an 8,000-fold reduction.

Illia Polosukhin, the newly appointed CEO of NEAR Foundation and co-founder of NEAR Protocol, issued a statement in which she analyzed how the provision of a data accessibility layer to Ethereum rollups exemplifies the complexity of the NEAR technology. Furthermore, it facilitates the ability of Web3 founders to introduce distinctive products, thereby narrowing the distance between the Open Web and its mainline counterparts.

Since its implementation, NEAR L1 has maintained an uninterrupted availability of one hundred percent for over three years. As a result, it is capable of delivering genuine dependability to projects while maintaining a secure DA and remaining cost-effective. NEAR offers excellent solutions to developers irrespective of the platform they are constructing on, and this now encompasses the Ethereum modular blockchain environment.

The NEAR Protocol has introduced a modular blockchain development infrastructure as an expansion of the capabilities it has already enabled for obtaining data via connections to its blockchain. By utilizing NEAR’s outstanding technology for a portion of the stack, Web3 founders and developers will be able to continue developing on Ethereum while also catering to their specific requirements.

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NEAR DA leverages the capabilities of NEAR’s Open Web Stack, which serves as an all-encompassing entry point for developers and users to create, browse, and encounter Web3 products and platforms, including FastAuth enrollment to an account, in an instant. This occurs with the assistance of zero crypto. Furthermore, it has the potential to generate decentralized frontends for libraries that contain substantial quantities of segments.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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