The NEAR protocol has attracted attention due to its AI strategy, founder background, and ETF application, but faces performance and security challenges.
OGAudit Web3 Research: @NEARProtocol $NEAR - The L1 Whose Co-Founder Co-Wrote the Transformer Paper?
NEAR has been building scalable, developer friendly infrastructure since 2020 now executing an AI first pivot led by a team with unusually deep AI research credentials:
- Nightshade sharding processes transactions across 9 parallel shards with 600ms blocks and 1.2 second finality while NEAR Intents enables intent based cross chain execution, users describe what they want and the network coordinates the routing across chains automatically. Nightshade 3.0 added privacy sharding running private shards inside TEEs with the https://t.co/xHgPxfmXD1 super app combining feeless cross chain swaps, AI assistance and agent automation in a single interface.
- NEAR co-founder Illia Polosukhin co-authored “Attention Is All You Need”, the original transformer paper underlying all modern LLMs giving NEAR’s AI narrative uniquely genuine credibility. IronClaw AI assistant runs inside isolated WebAssembly TEEs for verifiably private AI inference with Venice AI integrated for private model queries.
- Grayscale filed for a NEAR Trust ETF, SovereignAI raised $120M to build a NEAR based AI cloud treasury. A zero-day Litecoin MWEB bug exposed $600K in NEAR Intents cross chain transactions, the NEAR team pledged to cover losses, demonstrating both cross chain dependency risk and responsible protocol management.
Is a transformer paper co-founder, Nightshade 3.0 privacy sharding, Grayscale ETF filing and a $120M institutional treasury the AI L1 thesis finally materialising or does 63 average mainnet TPS, a 92% ATH decline and a cross chain exploit exposure three weeks ago confirm that NEAR’s ambition chronically outpaces its realised performance?
Category: Layer 1/AI Infrastructure
Coin Name: $NEAR
Circulating Supply: 1.29B
Market Cap: $2.147B
Market Cap Rank: #35
OG (Trust) Score: 52.67
OG Score Rank: #23/1358
Reviewed by 13 OG Auditors.
See the Social Audit with Reviews by crypto OG’s and more on the $NEAR Coin page: ogaudit(.)com/crypto/near-protocol-near
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