A recent report has revealed that a new public blockchain called Near has just raised more than $12 million in a funding round led by crypto hedge fund Metastable Capital with many supporters such as Ripple’s Xpring, Pantera, and Coinbase Ventures.
Near is reportedly equipped with the tools and features required for developers to create decentralised applications in direct competition with industry leaders like EOS, Tron, and Ethereum.
According to the press release, the team at Near comprises programming veterans from Facebook, Google, and other major tech companies. The team’s main aim is to radically increase the rate at which transactions are being carried out and eliminate any theoretical capacity limit.
The Chief Executive Officer of Near, Alex Skidanov said that:
“Assembling a world-class development team and creating the technology is really just the first step – the next is launching a global movement that puts blockchain technology in the hands of the developers and entrepreneurs who will carry it to…