What is the Near Protocol, and how does it work? By Cointelegraph

On Feb 19, 2022

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What is the Near Protocol, and how does it work?

Near Protocol is a decentralized application (DApp) platform that focuses on usability among developers and users. As a competitor of , NearProtocol is also smart-contract capable and a proof-of-stake (PoS) blockchain.

Near uses sharding technology to achieve scalability, a core aspect discussed later. The native token, NEAR, is used for transaction fees and storage on the Near crypto platform. Tokens can also be used for staking by NEAR tokenholders who wish to become transaction validators and help achieve network consensus.

Sharding strategy

Focus on decentralization

Usability-first approach

Governance

Paras

NPunks

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