near protocol

NEAR Protocol is a layer-1 blockchain network that is scalable and secured, with a focus on ease of useability. The Near Protocol is designed in such a way that both creators and developers can get empowered, who can earn 30% of the fees their contracts generate and can earn rewards for validating transactions. The community exists to allow community-driven innovation to benefit people around the world. 

• Founders: Illia Polosukhin, Alexander Skidanov
• Founded: 2017
• Headquarters: San Francisco, California, United States

Key Features:

• The network serves as the base layer on which applications are built. 
• NEAR enables using human-readable account names making it easy to interact.
• Offers a native wallet with a user-friendly interface for interacting with dApps and managing NEAR tokens.
• Uses a sharding mechanism called Nightshade that processes transactions in parallel.

FAQs

1. What is the NEAR token used for?

It is used for transaction fees, staking by validators, and as a governance token for voting on protocol decisions.

2. How does Near Protocol ensure security?

It employs various security measures including sharding technology, Proof-of-Stake consensus, two-factor authentication, cross-chain security features, continuous auditing, and bug bounty programs.