What is NEAR Protocol (NEAR)? Get an overview of NEAR 2021

If you are someone who is interested in virtual currency technology, you should not ignore this article. This will be an introduction to the NEAR Protocol (NEAR) project – one of the most anticipated projects of the past year. So what is NEAR Protocol (NEAR) and what do users need to know about NEAR?

NEAR Protocol (NEAR) là gì?
NEAR Protocol is a blockchain based on sharding (sharding) solution and proof of stake consensus mechanism to expand design capabilities, reduce costs, and provide developers with easy access to methods. Create decentralized applications. In other words, NEAR as a cloud platform, operated and developed by the community.

Currently, there are five main NEAR products, including:

NEAR SDK
NEAR Gitpod
NEAR Wallet
NEAR Explorer
NEAR Command Line Tools.
The outstanding points of the NEAR . project
When it comes to the NEAR project, users cannot ignore the five outstanding features below.

Technology
By applying the development of sharding technology as well as a separate path compared to previous blockchain platforms, NEAR can enhance the scalability of the application to the process of building a complex ecosystem. becomes easier.

Professional team
Project NEAR Founded and developed by two very famous names in the world, Illia Polosukhin and Alex Skidanova – two-time ICPC world champions as well as countless other major awards in the field of technology. . This is a solid stepping stone that shows the professionalism and quality assurance of the project.

Ecosystem
More than 100 collaborators around the world have built and developed the project together. They are people who have held important positions in large technology companies and have many years of experience. This proves the diversity and level of success right after the mainnet was put into operation and on April 22, 2020.

Support Community (Backer)
NEAR is backed by a large number of big names such as: a16z, Metastable, Pantera, Coinbase, Electric Capital, Accomplice, Amplify, Multicoin Capital, Block Change, Scalar Capital, A Capital, Ideo, Libertus Capital, Fabric Ventures, Xpring, Naval Ravikant.

With these outstanding advantages, NEAR allows the network to:

Use and experience easily, soft.
Compatible with other PoS networks quickly.
Day by day extensibility and good decentralization.
Fast data authentication speed with low cost.
Cross-chain interoperability and compatibility with 3rd web and cross-platform applications.

What are the key features of NEAR Protocol?
Uniform sharding capabilities
By using a uniform sharpness analysis approach, NEAR is seen as a scalable application that developers don't have to worry about any segmentation. The technology is similar to how the deployment applies to Amazon AWS, Azure, or GCP today.

Asynchronous calls
It is thanks to NEAR contract's application of asynchronous calls that chaining multiple applications/contracts in individual shards becomes as easy as calling in a whole contract. At the same time, complex financial instruments can be created on a large scale.

Dynamic Resharding
In the event of congestion, NEAR's dynamic resharding was able to add new capacity to the network to keep prices more stable.

Contract-based accounts
This is probably a feature that is loved by a lot of users who don't have to wait for approval on every transaction as NEAR's contract-based accounts now provide the application with advanced and flexible permissions.

Progressive UX
With the account model's ability to provide improved UX from the application, users are unlikely to realize they are on a blockchain platform until they are introduced.

Contract-based delegation
Authorization is based on contract. This means that validators can set flexible terms for token holders to authorize them, which opens up a whole new range of financial products.

What is NEAR Token?
NEAR is the project's own token used for staking and fee payment. At the beginning, the supply of NEAR was at 1,000,000,000 tokens and growing at a maximum rate of up to 5% per year. Thanks to sharding technology, NEAR transaction fees always remain at a stable low level over time because the network capacity can be flexibly expanded.

Basic information of NEAR token:

Name: NEAR.
Ticker: NEAR.
Token type: Utility + Governance.
Token standard: https://explorer.near.org/.
Total Supply: 1,000,000,000 NEAR.
Circulating Supply: N/A NEAR.

NEAR Token is specifically allocated as follows:

Community Grants, programs ( Community Grants ): 17.20%
Core Contributors (The core contribution) : 14%
Operations Grants : 11.40%
Backers (Funds Sponsored): 17.60%
Foundation Endowment (Founding Grant) : 10%
Small Backers ( Small Sponsor): 6.10%
Early Ecosystem : 11.70%
Community Sale : 12%
Advice on whether to invest in NEAR or not?
Although still a nascent project, NEAR has shown investors the potential of the project through the big names behind NEAR. At the same time, the application of new technology platforms sharding as well as the proof of stake consensus method has helped NEAR constantly develop.

However, any project will have certain risks. You can learn more and follow the development of NEAR in the near future to be able to make the most informed decisions.

Above are the sharing about the NEAR Protocol project as well as some related aspects. Hope you will find the article useful in expanding your knowledge in the field of technology. You can click like and rate five stars at the end of the article to continue supporting Tino Group to share these useful knowledge. Good luck!

WARNING: This is an information sharing article, not a call to invest, you must be responsible for your own decisions. Investing in financial products always involves a lot of risks, so you need to consider carefully before making a final decision. Wish you wise and sober to make the right investment decisions!

Frequently asked questions
On which exchanges can NEAR coin be traded?
Currently, you can only invest in NEAR coin on two major cryptocurrency exchanges on the market today , Binance , Huobi , OKEx , Gate.io, KuCoin, ...

Where can NEAR coins be stored?
You can store NEAR coins in the NEAR wallet (NEAR wallet) or at the exchanges you participate in. Note: please keep your assets carefully with safe security systems, if possible, you can choose exchanges, offline storage wallets, cold wallets for extra peace of mind.

What is NEAR usually used for?
Investors often use NEAR for the following 3 things.

Fees: transaction fees, data storage.
Validator node: by staking NEAR, you can run a Validator node on the network.
Governance vote: Used for administrative votes to determine the allocated network resources and future technical direction of the protocol.
How does NEAR staking work?
NEAR token holders can participate to receive staking rewards.

Validators earn NEAR Tokens for producing new blocks as a static inflation rate of 4.5% per year.

Token holders who are not interested in being a Validator can stake into the Validator staking pool and also earn a token reward. This incentivizes Token holders to continue to engage with the community, and supporting Validator is keeping the network running smoothly.

The staking reward that an investor can earn is equivalent to the total amount of tokens staked. Example: If a total of 5000 tokens are staked and you have staked 1000 of them. You can earn 20% bonus. If a total of 10000 tokens are staked and you have staked 100 of them, you will only earn 1% reward.