Hassan Maishera
On Tuesday, the Near Protocol announced via a blog post that it has introduced two major upgrades to NEAR Intents: passkeys for seamless authentication and OTC trading for direct, peer-to-peer exchanges.
Near Intents is a feature that allows users to simply declare their desired outcome, letting a specialized network of solvers compete to fulfill the request. With Passkeys, users can simply access the platform using NEAR, Ethereum, or Solana wallets and store their cryptocurrency non-custodially on-chain using passkey authentication.
The new OTC trading functionality transforms how peer-to-peer transactions can occur as users can directly negotiate a trade at a fixed price with a known counterparty instead of swapping assets at the current market rate. Once the buyer and seller agree on a price, NEAR Intents handles the transfer, ensuring a trustless, efficient, and seamless settlement.
NEAR Protocol is a decentralized application platform designed to make apps similarly usable to those on today’s web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to provide dynamic scalability and stabilize fees. NEAR is trading at $2.352, down 1% in the last 24 hours.
