NEAR as modular infra: DA, fast finality and chain abstraction
Thread1,193 words
Thesis that NEAR leads the modular narrative through a sharded DA layer, an EigenLayer fast finality layer and chain abstraction via account aggregation. Covers EastBlue's Bitcoin account vault model built on NEAR.
Key claims
Fast finality layer targets 3-4 seconds
Settlement up to 4,000 times cheaper than Ethereum
FastAuth update in March 2024 maps NEAR addresses to EVM and Bitcoin
Modularity is the big narrative of the cycle
Tech abstracting the complexity of a fragmented backend of modular chains is huge
Ecosystems with top UX will attract users, liquidity & builders. They will be epicentres of the largest bull run in history
Alpha-🧵 on @NEARProtocol
1/ Modularity will reshape how we think and build blockchains.
This will give rise to some big opportunities if you're able to identify the leading protocols early.
Today, I will share my research on a key infrastructure project, that will be a leader of the modular narrative.
2/ As the notion of modularity gains traction, we'll see the rise of an increasing number of highly customized and potentially use case optimized execution layers.
Built on modular infrastructure, they will jointly form a scalable ecosystem that hosts mass-adoption-ready dApps.
3/ However, the wide-open design space of the modular world comes with with a problem: fragmentation.
Every layer of the stack potentially introduces friction and both users and liquidity are currently fragmented across a multitude of isolated execution layers.
4/ This results in a bad UX, which hinders the broader adoption of Web3 apps.
What's missing in the modular stack is a chain abstraction layer. Infrastructure that interconnects fragmented networks and unifies UX.
@NEARProtocol is building tech enabling exactly that.
5/ The concept of chain abstraction means to make the complexities of the blockchain backend invisible to end users.
This removes frictions and barriers of entry that hinder broader participation and subsequently mass adoption.
6/ It is the holy grail for a seamless UX that is able to convince the masses to go on-chain.
It is also the vision that @NEARProtocol has been building to make reality since day 1.
Now, among an increasingly tangible multi-chain world, it finally takes shape.
7/ @NEARProtocol has already established itself as a key player in the modular infra space.
In the past months, Near has announced:
⚙️ NEAR Data Availability layer (think @CelestiaOrg)
⚙️ NEAR Fast Finality layer built with @eigencloud
⚙️ zkWASM prover for the @0xPolygon CDK
8/ ⚙️ NEAR DA Layer
NEAR DA provides rollups and developers get especially cost-effective, reliable DA guarantees.
Thanks to its sharded network architecture, @NEARProtocol is able to handle much larger data quantities than Ethereum.
This makes posting data much cheaper.
9/ ⚙️ NEAR Fast Finality Layer
In partnership with @eigencloud, NEAR is building the world's first fast finality layer for Ethereum L2s.
This groundbreaking development will significantly reduce transaction finality from minutes or hours to just 3-4 seconds.
10/ The cost of settlement on this new finality layer will be up to 4'000 times cheaper than on Ethereum.
Additionally, this will reduce liquidity fragmentation between L2s that share the fast finality layer.
11/ The collaboration will also transition the NEAR-Ethereum Rainbow Bridge to an actively validated service (AVS) secured by @eigencloud's restaking mechanism.
12/ ⚙️ zkWASM Prover
In a nutshell, the zkWASM prover is a runtime that will generate zero-knowledge proofs to verify the correctness of native WASM VM execution.
This is big as builders could enable broad support for (web2) programming languages that go for beyond Solidity.
13/ WASM execution is universal. It can support programs written in Rust, C, C++. Typescript & more.
WASM goes beyond the contemporary notion of containerized, restricted & limited execution. It opens up a limitless design space of software running on a decentralized tech stack.
14/ On top of this modular infra, scalable, potentially app-specific networks will be built.
@NEARProtocol leverages Account aggregation to enable seamless transacting across all these chains using a single account.
This is basically Account Abstraction on steroids, anon.
15/ Accompanied by...
✦ Intent relayers that can execute complex intents across chains using this infra
✦ Decentralized frontends that provide discoverability & composability for multiple apps across chains into one UX
... this makes @NEARProtocol a leading ecosystem wrt UX.
16/ The notion of account aggregation is key.
It's what enables users to have addresses on all possible chains & move assets between them freely.
@NEARProtocol will launch the next version of FastAuth in March 2024, which has mapping for NEAR addresses to EVM, Bitcoin & others.
17/ One key concept that enables this, are zero knowledge (ZK) proofs.
Highly scalable, modular chains, potentially running on a small set of high-spec operators, can prove that protocol rules were followed through succinct, cryptographic proofs.
18/ The transactions from these modular chains can settle on multiple L1s and L2s through ZK proofs that are verified in the corresponding execution environment.
An approach referred to as cross-settlement aiming to improve security guarantees of modular app layers.
19/ @NEARProtocol's vision for a unified UX across a multitude of modular chains is completed by user-friendly super (app) wallets.
These enable users to navigate all of Web3 without having to switch networks or deal with gas tokens and bridges.
20/ Under the hood, users will interact with blockchain-based applications without even knowing.
Applications, that can be built on entirely novel network architectures.
One application layer design that caught my attention is @EastBlue_io, implemented as a Bitcoin sidechain.
21/ @EastBlue_io aims to scale Bitcoin with an Account Vault Model (AVM) that leverages @NEARProtocol's account aggregation model.
It positions Near as the programmability layer of the Bitcoin ecosystem.
22/ Building its stack on @NEARProtocol, @EastBlue_io uses:
✦ NEAR L1 for Programmability
✦ Near Account Aggregation for UI
The Account Vault Model is an entirely new paradigm of cross-chain transactions.
23/ It works by transferring the ownership of an account to a smart-contract on @NEARProtocol.
Since an account can also create another sub-account (which could also be a smart contract), account vaults are created.
All without inventing an entirely different protocol.
24/ A @NEARProtocol account will simply create a sub-account, that will act as the Account Vault, e.g. temp.alice.near.
Thanks to Account Aggregation, this account will have its derived Bitcoin address (vault-1.btc), that can contain assets such as BTC or Ordinals.
25/ This enables a broad range of use cases.
One example is an NFT marketplace that trades Account Vaults containing Ordinals.
The wrapped Account Vaults can be traded, auctioned, staked, and borrowed just like ordinary NFTs.
26/ Alternatively, imagine a BRC20 launchpad that lives as a smart contract on @NEARProtocol.
Users can unwrap their tokens as real BRC20 assets on Bitcoin.
BTC itself could also be transferred to the NEAR blockchain & traded on dApps, opening up a limitless space of use cases.
27/ Considering its leading position with regards to UX and the core modular infra it is building, I strongly believe that @NEARProtocol will be a key play this cycle.
It stands at the center of the powerful modular narrative and could turn into an epicentre of the bull run.
28/ Definitely worth doing your research anon.
Wouldn't fade this and let the @NEARProtocol Season train depart without you.
Could be one of the bigger opportunities this cycle imo. Will definitely look to position myself in the Near ecosystem. NFA tho.
I hope you've found this thread helpful! 🫡
Make sure to follow me @zerokn0wledge_ to stay ahead of the curve on all things around modularity and the @NEARProtocol ecosystem!
Like/Repost of the below post is also highly appreciated! 🙏👇
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How the call played out · since 15 Feb 2024
Prices as of 23 Oct 2026This piece takes a view on $NEAR, so that move is read against the call.
+48%
Moved with the call · over 2.7 years
- At publication
- $3.34
- Now
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- vs BTC
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- After 1 month
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- After 3 months
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- High since
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Since then
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