ON–193: Layer 1s 🌐

NEAR Protocol, a L1 blockchain excelling at cost-efficient, high-speed transactions, is on its mission to onboard 1 billion users to the Open Web. After the launch of KaiKai (a consumer shopping app), NEAR observed a surge in Daily Active Addresses (DAA). Building on NEAR benefits both buyers and merchants, with transaction fees around 50 times cheaper than Visa/Debit fees. DAA currently stand at 833k, propelled by KaiKai's impressive retention rates (1-day rate is ~40%). [Source: Jo Yang]