Ethereum is currently the second biggest blockchain in the world, with Bitcoin being the first. Ethereum functions mostly different from Bitcoin, whilst Bitcoin is used as a medium for transaction on the internet, Ethereum is a platform for developers to create the decentralized application on. Applications that were built on Ethereum are, for example, Gods Unchained, Augur, and Decentraland.
Ethereum is functioned similarly to NEAR Protocol. However, the main weak point of Ethereum is the scalability issue, its processing time becomes slower as the network grows. This is because Ethereum uses the system called Proof-of-work, same as Bitcoin, this system requires a tremendous amount of electricity and processing power from the network, but ironically could not perform well enough.
That is where NEAR Protocol aims to overcome, by using the system called proof-of-stake. However, Ethereum also has a trick up its sleeve, called Ethereum 2.0, that will adopt proof-of-stake system as well as introducing variety of new features
In conclusion, NEAR Protocol is a new generation of blockchain that adopts proof-of-stake, functions as a platform for developing decentralized applications. NEAR did successfully introduce itself to western community, considered one of the great steps for the Blockchain community as a whole.
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