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Near
About Near
NEAR Protocol is a decentralised, layer-1 blockchain focused on scalability, usability, and security for building decentralised applications (dApps). It uses Nightshade sharding and a proof-of-stake (PoS) consensus for efficiency and offers features like human-readable accounts and compatibility with JavaScript and Rust. NEAR integrates AI with Web3, enabling decentralised AI-driven apps through low-cost storage and interoperability. Its native token, NEAR, powers transactions, staking, governance, and developer incentives. Founded in 2018 by Illia Polosukhin and Alexander Skidanov, NEAR fosters innovation in blockchain and AI.
NEAR Protocol is a decentralised, open-source, layer-1 blockchain designed to support the development and deployment of decentralised applications (dApps). It leverages Nightshade sharding to optimise scalability by processing transactions across multiple shards simultaneously. The network uses a proof-of-stake (PoS) consensus mechanism to ensure security and energy efficiency.
NEAR Protocol emphasises usability, offering features such as human-readable account names, progressive onboarding through account abstraction, and compatibility with widely used programming languages like JavaScript and Rust. These tools enable developers to create applications that are both user-friendly and technically robust.
The platform also integrates Web3 technologies with artificial intelligence (AI), providing infrastructure for building decentralised AI-driven applications. NEAR supports user-owned AI systems through low-cost data storage, modular frameworks, and interoperability tools that connect with other blockchains.
The NEAR token is the native cryptocurrency of the NEAR Protocol and serves multiple purposes:
- Transaction Fees: The token is used to pay for transactions and data storage on the network.
- Staking and Security: NEAR tokens can be staked by validators to secure the network and validate transactions. Staking participants, including delegators, receive NEAR rewards for their role in maintaining the blockchain's integrity.
- Governance: NEAR token holders can participate in on-chain governance by voting on proposals and upgrades that affect the protocol.
- Developer and User Incentives: NEAR tokens are used to incentivise developers who build applications and drive activity on the protocol. Additionally, the network offers features such as fee rebates for application usage.
- AI and Web3 Applications: NEAR tokens are used within the ecosystem for deploying and running decentralised applications, particularly at the intersection of AI and Web3. The token supports microtransactions and enables decentralised AI agents to perform on-chain tasks.