What is the NEAR protocol? Back to list

Member SinceMar 07, 2022

Posts 180

Agaricy96

Aug 03, 2022 a 12:17
The NEAR Protocol is a piece of software that attempts to incentivize a group of computers to run a platform that allows developers to build and deploy decentralised applications.

The concept of sharding, which attempts to break the network's structure into many pieces so that computers, also known as nodes, only have to manage a portion of the network's transactions, is central to the design of the NEAR Protocol.
Near Protocol is a layer 1 blockchain network. It provides a platform on which developers can build decentralized applications. Because Ethereum is currently the most successful layer 1 blockchain, protocols like Near are viewed as competitors.
The NEAR Protocol is a piece of software that attempts to incentivize a group of computers to run a platform that allows developers to build and deploy decentralized applications.
Near Protocol is both faster and cheaper than Ethereum. More importantly, it is expected to be faster than some of its major competitors. When fully deployed, Near is expected to be capable of processing up to 100,000 transactions per second. According to its own blockchain explorer, Solana, Ethereum's main competitor, averages less than 3,000 transactions per second. Ethereum has a transaction rate in the thousands of transactions per second. Bitcoin accomplishes fewer than ten tasks.

https://near.org

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