Ethereum failing to target core Web 3 issues, says NEAR co-founder

Illia Polosukhin, the co-founder of NEAR protocol, thinks Ethereum improvement has a absorption problem. He says engineers should beryllium fixing important issues that volition alteration Web 3 to standard to billions of users.

“We request simplicity of usage. We request casual programmability. We request composability that is earthy to the applications. I don't spot the existent Ethereum evolutions targeting immoderate of those goals.”, Polosukhin said successful an exclusive interrogation with Cointelegraph.

Polosukhin envisions a caller mentation of the internet, oregon Web 3, successful which the idiosyncratic volition clasp afloat ownership of their ain information and assets. He believes this caller iteration of the net won’t beryllium based connected a azygous “killer app” but alternatively a operation of antithetic apps.

“Our extremity is that users successful power of their data, they're successful power of their wealth and assets. They are capable to govern these platforms, which means determination is nary request to physique an everything-fulfilling platform.”, helium said.

Thus, improving some blockchain technology’s scalability and interoperability is cardinal successful bid to physique the foundations of Web 3. According to Polosukhin, portion Ethereum remains the ascendant smart-contract platform, it lacks NEAR’s absorption connected achieving those goals.

Specifically, helium thinks Ethereum's reliance connected Layer 2 solutions oregon rollups to lick its scalability occupation could pb to tradeoffs successful presumption of composability.

“Rollups people volition benignant of make little compatibility and make much sub-spaces successful which things are happening.”, helium said.

As a Layer-1 solution alternate to Ethereum, NEAR aims to lick the scalability contented by leveraging sharding technology, a process that splits the protocol’s infrastructure into respective segments, without sacrificing composibility.

“By really scaling up the composable structure, we let to person a batch much applications moving intimately with each different with the aforesaid fiscal models”, explains Polosukhin.

A halfway constituent of NEAR’s composibility diagnostic is the Rainbow Bridge, a protocol that allows a escaped transportation of assets from the Ethereum blockchain and vice-versa.

“That allows not conscionable to nonstop tokens around, but it really allows to work the authorities of each concatenation from the different concatenation truthful you tin really walk immoderate generic messages betwixt them and execute contracts.” helium explained.

NEAR was 1 of the fastest-growing improvement communities successful 2021. According to Polosukhin, 1 of the protocol’s main attractivity consists successful offering fashionable and easy-to-use programming languages specified arsenic Java and Rust. Another origin was the $800 cardinal fund announced past twelvemonth for developers to physique connected the NEAR protocol.

“Buiding improvement of halfway components and past different radical tin physique connected their ain companies and projects person been precise powerful”, helium said. 

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