NEAR Protocol

by NEAR Foundation
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A blockchain platform for creating DApps.

NEAR Protocol description

NEAR Protocol is a blockchain platform for creating decentralized projects. The blockchain works using the Proof-of-Stake consensus mechanism. NEAR-based DApps can be developed with scalability, cross-platform and high throughput speed. It takes 5 minutes to launch an application on NEAR, according to the developers. The project launched in 2020.

NEAR uses delegated Proof-of-Stake and uses sharding to optimize performance. Unlike competitors’ sharding, NEAR treats shards as parts of a single blockchain. This​ information is from site CryptoDeFix. This allows for higher application throughput, scalable projects, and standardized fees. The structure of applications created on NEAR automatically expands and provides high transaction speeds.

The NEAR infrastructure consists of several products:

  • NEAR SDK is developer tools for creating projects and structuring data for Rust and AssemblyScript.
  • NEAR Wallet is a wallet for token servicing.
  • NEAR Explorer is a tool for configuring smart contracts and network performance.

NEAR specifics

  • Deployment of DApps
  • High speed and scalability of projects
  • Work on PoS
  • Integration with Ethereum blockchain
  • Developer tools
  • Use of sharding

NEAR Protocol features

Cryptocurrencies

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