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NEAR Protocol(NEAR)

The NEAR Protocol is a decentralized application platform that enables the development of high-performance, user-friendly decentralized applications (dApps). It is built on a sharded Proof-of-Stake blockchain, which allows it to provide scalability, fast transactions, and minimal resource overhead. The protocol is designed to be developer-friendly and easy to use, so that developers can quickly and easily create dApps with minimal effort.

The NEAR Protocol is built on a consensus algorithm called Nightshade, which is based on a Proof-of-Stake consensus mechanism. This consensus mechanism enables the network to be more secure and reliable, as well as more energy-efficient compared to other consensus algorithms. Additionally, Nightshade allows for sharding, which means the network can be divided into multiple shards, allowing it to process transactions faster and more efficiently.

The NEAR Protocol also provides a secure and efficient way for developers to interact with their dApps. It provides a secure runtime environment, called the NEAR Virtual Machine, which allows developers to write code and deploy it to the blockchain. The NEAR Virtual Machine also provides developers with access to a suite of developer tools, such as a wallet, smart contracts, and a token system.

Founder: Alexander Skidanov & Ilya Polosukhin

Launched On: 2020-04-15

Protocol
Layer

Layer 1

Programming
Language

Move

Consensus
Mechanism

Proof Of Stake

Current
Price

$4.285

Market
Cap

$4,472,560,452.396

Circulating
Supply

1,043,761,976 NEAR