Blockchain

How does NEAR work?

NEAR employs Nightshade, a sharding variant in which individual sets of validators process transactions in parallel across multiple sharded chains, thereby increasing the blockchain's overall capacity. Because of these techniques, NEAR Protocol can process up to 100,000 transactions per second and achieve near-instantaneous transaction completion thanks to a one-second block cadence. This is despite the fact that transaction fees are only a fraction of a cent. Interoperability with layer one blockchains like as Terra and Cosmos is quickly being added to the Near blockchain.

What is NEAR staking?

You must stake NEAR coins in order to become a validator node on NEAR. The exact quantity you must stake is determined on the number of tokens staked by other validators in a given shard. This also decides your share of the block rewards distributed every epoch (12 hours).

This design is intended to encourage validator nodes to secure newer or "smaller" shards with lower entrance barriers. You can persuade delegators to delegate their tokens to you if you don't have enough money to buy enough NEAR tokens to secure a seat. Staking pools are used by delegators to do this, and they receive a part of the block rewards from the validator(s) they are staking on. More information on staking on NEAR may be found here.

What is NEAR’s platform governance?

The NEAR Foundation, a Switzerland-based non-profit dedicated to protocol maintenance, ecosystem funding, and directing protocol governance, distributes funds to the protocol treasury. The Reference Maintainer, who is chosen by the NEAR Foundation board, is in charge of technical changes to the NEAR crypto network, albeit all nodes in the network must agree to updates by upgrading their software. The Reference Maintainer will eventually be overseen by community-elected representatives. NEAR Protocol strives to stand out in the crowded field of Web 3.0 infrastructure providers by offering unique developer and user-friendly capabilities.

Website

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WhitePaper

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