The Near protocol is a layer-1 blockchain aiming to be the base of the emerging web stack. With a sharded proof-of-stake design, it’s highly-scalable and low-cost solution is set to compete with Ethereum, Polkadot, and EOS. Popular projects built on the near protocol include Mintbase, Flux, and Paras.
The NEAR token allows holders to participate in network governance, earn rewards by staking to the network as transaction validators to achieve consensus, and used by dApps to pay for storage. The Near Protocol was founded by Alexander Skidanov and Illia Polosukhin in 2018, after meeting at the startup accelerator Y Combinator. Skidanov is a former Microsoft software engineer, while Polosukhin worked on TensorFlow at Google.
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