What is NEAR Protocol (NEAR)? NEAR Cryptocurrency Complete

• NEAR Protocol Overview
• Overview of the NEAR . coin
• summary

NEAR Protocol Overview

What is NEAR Protocol?

NEAR Protocol is a layer 1 platform independently designed for the development of decentralized applications. It works on two mechanisms, sharding and Proof-of-Stake consensus. NEAR Protocol uses sharding to divide the system into separate operating parts, and it is likened to a cloud platform run by individuals and organizations around the world. As a result, NEAR Protocol becomes a highly scalable, low transaction cost but still secure platform for developers to create decentralized financial applications as well as users. .

Some problems blockchain platforms are facing

NEAR Protocol was born with the goal of solving some of the problems of the current blockchain platform such as:

Scalability : As more and more data is available on blockchain platforms, the nodes in the system must also upgrade with that growth. However, the increasing cost of upgrading and maintaining the system makes the expansion of nodes on the blockchain platform limited.

Popularity : Current Blockchain platforms are still difficult to access for developers and users because of financial barriers, technology, training, support community, etc.

Some outstanding features of NEAR Protocol help solve the above problems

Easy scalability and low transaction costs :

NEAR Protocol uses sharding in building its blockchain system. With this mechanism, nodes on NEAR Protocol only need to store part of the network's data instead of the entire data like other platforms. NEAR Protocol also optimizes the size of nodes running on its system, even if it is the smallest, which can help developers minimize installation and operating costs. As a result, NEAR Protocol easily expands the system and reaches more project developers.

Based on the Proof-of-Stake consensus mechanism, NEAR Protocol has developed and used a new consensus mechanism called Nightshade that combines Doomslug block generation to increase the processing speed up to 100,000 transactions per second with the same cost. short.

Easy to access, friendly to all users :

For developers : NEAR Protocol provides tools such as NEAR SDK, Gitpod, NEAR Command Line Tools... and many documents to help project developers easily build and develop decentralized financial applications. and its smart contract. NEAR Protocol also organizes many free courses and training programs for project developers to improve their network knowledge. In addition, NEAR Protocol also uses two popular programming languages ​​​​currently Rust and Assembly Script to build a system that makes it easier for developers to access this platform.

For users : Users can easily register, use decentralized financial applications built on NEAR Protocol quickly and simply. NEAR Protocol uses user-registered user names, such as test.near, moon.near, instead of complicated keywords that are difficult to remember.

Project development team, investor of NEAR Protocol

Project development team

The project development team is a community of NEAR Collective with more than 200 leading programmers in the world currently working for large organizations, corporations and technology companies such as Facebook, Google, Microsoft...

Some members of NEAR Team

Investors

Prominent investors of the NEAR Protocol project include Coinbase Ventures, a16z, Libertus Capital, etc.

Investors of NEAR Protocol

NEAR Protocol's Ecosystem

Wallet

In addition to storing NEAR in NEAR Wallet, Trust Wallet , Coin98 Wallet…

DeFi

Some outstanding DeFi projects of NEAR Protocol can be mentioned such as Ref.finance, LollySwap…

NFT/Gaming

NEAR Protocol supports and builds a number of NFT projects such as Mintbase, Paras, OPGames…

Scalebridge

Rainbow Bridge, Aurora, Octopus Network… are outstanding projects that help NEAR Protocol expand the system as well as connect with other blockchain platforms.

NEAR Protocol's Ecosystem

Overview of the NEAR . coin

What is NEAR used for?

• Transaction fees : Investors can use NEAR to pay transaction fees in the NEAR Protocol blockchain network such as transaction fees, smart contract deployment fees
• Staking : Investors can bring NEAR to staking on the platform of NEAR Protocol to earn more rewards
• Participation in governance (Governance) : NEAR coin holders have the right to participate in the system administration process as well as contribute ideas to build the NEAR Protocol network.

Information about NEAR . coin

• Token Name : NEAR
• Ticker : NEAR
• Blockchain : NEAR Protocol
• Token type : Utility + Governance
• Token standard : NEP21
• Total supply : 1,000,000,000 VND
• Total circulation supply : 466.710,527

NEAR Coin Allocation

• Backers : 17.6%
• Community Grants, Programs : 17%
• Core Contributors : 14.5%
• Early Ecosystem : 13.3%
• Operation Grants : 11.5%
• Community Sale : 10%
• Foundation Endowment : 10%
• Small Backers : 6.1%

Distribution of NEAR

The NEAR allocation schedule will be implemented as follows:

Community Grants and Programs : NEAR is used for funding, community building contributions from education, awareness raising, events, charity… NEAR will be distributed to this group within 60+ months starting from April 2020.

Core Team : NEAR is locked for 12 months from April 2020 and then the project will pay NEAR to Team in the next 4 years.

Prior Backers : NEAR is locked from 12 months to 36 months from April 2020 and then the project will gradually pay NEAR to investors in the following months.

Community Sale : More than 120,000,000 NEARs were distributed to the community through Community Sale in August 2020 at CoinList exchange . Of which, 25,000,000 NEAR will be unlocked by the project and immediately paid to investors on September 24, 2020, and the rest will be paid in installments from 12 to 24 months.

Early Ecosystem : The project will pay NEAR in installments to the developers of the NEAR Protocol ecosystem within 6 or 12 months.

Foundation Endowment : The NEAR Foundation will divide NEAR into 2 parts for the purpose of maintaining and developing the system. Part 1 will be paid immediately by the NEAR protocol to the Foundation Endowment while part 2 will be paid to this group within 24 months.

Operations Grants : NEAR is expected to be distributed to this group starting in the second half of 2020 and early 2021 within 60 months.

New Issuance : Every year NEAR Protocol will issue 5% more NEAR.

NEAR coin distribution schedule

Storage Wallet & Coin Exchange NEAR

Currently, NEAR is being traded on many major cryptocurrency exchanges such as Binance, Huobi, etc.

To store NEAR users can use Near Wallet or store it at wallets of exchanges.

summary

Above is the basic information about the project NEAR Protocol and NEAR coin. NEAR Protocol aims to be an easy-to-use, user-friendly blockchain platform suitable for both developers of decentralized financial applications, validators and users of applications. With its sharding mechanism and special technologies, NEAR Protocol solves the problems of system expansion and transaction costs that other platforms are facing. Therefore, NEAR Protocol promises to attract more investors and project developers in the future.

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