- Near Foundation introduces “NEAR DA,” a cost-effective data availability solution for Ethereum rollups, promising to be 8,000 times cheaper than Ethereum for data posting.
- NEAR DA joins the likes of Celestia in the growing market for blockchain scalability solutions, enhancing the efficiency of Ethereum’s expanding layer-2 ecosystem.
In the dynamic realm of blockchain technology, a new contender has emerged in the quest to streamline Ethereum’s scalability. The Near Foundation has proudly announced the deployment of “NEAR DA,” a data availability infrastructure designed to alleviate the heavy lifting from Ethereum’s shoulders.
This cutting-edge service, orchestrated by the non-profit championing the Near Protocol blockchain, pledges to undercut Ethereum‘s data posting costs dramatically, boasting rates 8,000 times more economical. In practical terms, what would cost an optimistic rollup approximately $26.22 to post 100 kilobytes of call data on Ethereum, would only be a mere $0.0033 using NEAR DA.
Relief for Ethereum’s Growing Pains
Ethereum’s burgeoning network and its layer-2 offshoots, which optimize transaction speed and costs, produce a formidable volume of data. The advent of NEAR DA represents a pivotal breakthrough, presenting a viable alternative for these networks to manage their data efficiently and affordably.
Celestia has recently captured headlines with its own launch and token airdrop, and Avail is poised to enter the arena in early 2024. Yet, NEAR DA distinguishes itself by being not only a current but a highly cost-effective player in this emergent field.
The immediate beneficiaries of this service are innovators in the Web3 arena, particularly those navigating the intricate landscape of modular blockchain development. Early adopters such as Madara by Starknet, Caldera, and Movement Labs are already leveraging NEAR DA’s capabilities.
The revelation came amidst the fervor of Nearcon, the company’s annual conference held in Lisbon, where the Near Foundation detailed the remarkable cost discrepancy. The implication of this is profound: a 100-kilobyte calldata that would dent the wallet on Ethereum can now be posted at a fraction of a cent on Near Protocol.
This leap forward for NEAR DA is not just a testament to technological advancement; it is a clarion call to the entire Ethereum ecosystem. It promises enhanced performance, lower costs, and, consequently, greater adoption of Ethereum’s layer-2 networks.
As the blockchain community anticipates NEAR DA’s potential to reshape the data availability landscape, it’s clear that the race for scalability solutions is accelerating, with Near Foundation steering a significant shift towards a more efficient and cost-effective blockchain infrastructure.