NEAR Protocol operates on the basis of Public Proof of Stake and Sharding mechanisms. In other words, NEAR functions as a community-operated cloud platform. This implies that it is a cost-effective, highly scalable platform designed to support developers in creating decentralized applications on top of it.
Key highlights of NEAR include:
- Advanced technology: Leveraging innovative Sharding technology, NEAR is capable of scaling collaborative efforts and interactions within the same ecosystem as well as with other blockchains.
- Competent development team
- Wide-ranging ecosystem
- Modern processes
- Strong partnerships
- Low Gas fees: NEAR's transaction fees are currently in the low segment and come with numerous advantages. This benefit helps investors optimize costs and enhance profitability.
- Fast transaction processing speed: I assess NEAR as a blockchain with incredibly fast transaction processing speed. As such, this platform can handle up to 100,000 transactions per second, particularly due to its one-second block time. According to NEAR's evaluation report, this speed is over 10,000 times faster than Ethereum. This is truly an impressive figure.
- User-friendly platform Show Less
