NEAR Protocol Near Price USD

NEAR Protocol is a layer-one blockchain. It is designed to serve as a community-run cloud computing platform. It solves some of the issues that have plagued other blockchains, including slow transaction rates, limited throughput, and poor compatibility. This produces a platform that is user and developer friendly and offers the ideal environment for DApps. NEAR also provides unique solutions to scalability challenges and has its own consensus process known as "Doomslug."

The NEAR Collective, a community behind the NEAR Protocol, is improving the initial code and releasing modifications to the ecosystem. Its declared purpose is to create a platform that is "secure enough to manage high-value assets such as money or identity while still being efficient enough to be helpful to common people."

Flux, a protocol that lets developers establish markets based on assets, commodities, and real-world events, as well as Mintbase, an NFT minting platform, are two projects built on the NEAR Protocol.

NEAR Protocol was founded by Erik Trautman, the founder of Viking Education and a businessman with knowledge on Wall Street. His co-founders were Illia Polosukhin, who has over ten years of industry expertise, and Alexander Skidanov, a computer scientist who worked at Microsoft before joining memSQL as the director of engineering.

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