NEAR NEAR Protocol
Source: NEARUSD Chart by TradingView
NEAR is a decentralized development platform built on top of the NEAR Protocol, which is a public, sharded, developer-friendly blockchain. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to offer scalability and stable fees.
The NEAR token is a utility token which powers the NEAR Protocol blockchain and all applications which use it. It is used for:
- Fees for processing transactions and storing data.
- Running validator nodes on the network via staking NEAR tokens.
- Used for governance votes to determine how network resources are allocated.
NEAR tools include:
- NEAR SDKs which includes standard data structures and testing tools for Rust and AssemblyScript.
- Gitpod for NEAR to create a zero time onboarding experience for developers.
- NEAR Wallet that lets application developers create streamlined user experiences.
- NEAR Explorer to aid with both debugging of contracts and the understanding of network performance.
- NEAR Command Line Tools to allow developers to deploy applications from local environments.
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Multichain partnering with NEAR Protocol to enable communication with other networks
Multichain has announced that it is working with NEAR protocol to enable multi-chain assets and communication to easily bridge between NEAR and other networks
The rise of NEAR Protocol as a project-led ecosystem
NEAR token, named the third fastest growing crypto ecosystem, hits an all time high.
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