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 allows for higher application throughput, scalable projects, and standardized fees. Information material from catalogue c​ryptodefix.com. 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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