A brief guide into NEAR Protocol

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With the rise of cryptocurrencies and blockchain technology, Bitcoin, Ethereum and other networks began to face scaling issues due to increasing demand. These challenges are especially evident on the Ethereum blockchain due to growing interest in decentralized apps and non-fungible tokens. Due to high traffic, the network often faces higher transaction costs and gas fees. This can prove discouraging for both developers and users. There are many teams working on scaling blockchain networks. However, the NEAR protocol team is focused on addressing these limitations via sharding.





In this context, NEAR is the next generation of blockchain that enables to make web3 accessible to all. It is an autonomous decentralized application platform (dApp) and Ethereum competitor focusing on developer and user-friendliness. Its native token is NEAR, which is used to pay transaction fees and storage on the NEAR crypto platform. NEAR can host dApps and provides cost-effective solutions to overcome many challenges. It supports instant transactions on top blockchain protocols such as Ethereum (ERC20) and Counterparty (XCP).

What is NEAR protocol?

NEAR is a layer1 blockchain, which means it is not dependent on any other chains. It has a unique scaling mechanism known as Nightshade Sharding which makes it easy to add new users. NEAR allows mass adoption of web3. It is the foundation for decentralized applications and provides a secure, scalable platform. It's also designed to be easy to use by developers. NEAR protocol is home to hundreds of exciting dApps. This simple, scalable and secure blockchain platform is designed to provide the best possible experience for users and developers, which is a need to bridge the gap to mainstream adoption of dApps. It is completely carbon neutral.

NEAR is similar to the "cloud-based infrastructure" that developers are currently using to build their applications. However, the cloud is not controlled by one company that runs a huge data center. Instead, it is managed by everyone who operates nodes on the distributed network. So, it is a community-operated cloud.

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