NEAR protocol... put the Open Web into the hands of everyday people

What is NEAR?
Near is an open-source, programmable blockchain (smart contracts) and distributed computing platform based on the Proof of Stake (PoS) algorithm that enables developers and practically anybody to build and deploy decentralized applications (dApps) easily.

Near is building the infrastructure of the decentralized web, including the NEAR Protocol smart contract platform and a variety of supporting tools. NEAR Protocol is a scalable blockchain designed to provide the performance and user experience necessary to bridge the gap to mainstream adoption of decentralized applications. Unlike other next generation blockchains, this network has been built from the ground up to be the easiest in the world for both developers and their end users while still providing the scalability necessary to serve those users.

Besides this, Near Protocol will actively make use of sharding in order to allow the infrastructure to scale for mainstream usage. Despite being early in development, the team is claiming to be working on a mechanism that allows to shard the state and execution of each smart contract to enable the execution of arbitrarily complex programs in parallel. In addition, Near Protocol also does not introduce its own programming language and instead relies on the entire ecosystem of transpilers to WebAssembly, as well as access to the state in the form of SQL queries.

Furthermore, NEAR uses a novel consensus mechanism called Doomslug, by which there is no theoretical limit to the capacity of the network. Doomslug works in such a way that a block is considered “final” if a block produced by Doomslug contains endorsements by more than half of the block producers for the previous block. The previous block is irreversible unless at least one of the block producers is removed.

• recently NEAR raised $21.6 million in a token sale led by a16z crypto and sold nearly $30 million in NEAR tokens to investors on Coinlist

How Does NEAR Work?

The NEAR Protocol uses a technique called “sharding” that splits the network into multiple pieces – shards – to enable parallel processing of transactions. Meaning there isn’t a theoretical limit on the network’s capacity.

By processing in parallel we mean that transactions are batched and executed on different shards simultaneously.

Each shard is technically a separate blockchain that maintains its own resources and set of validators (participants that verify transactions and produce blocks, either by mining, such as in Proof of Work or via a voting-based mechanism) but can interact with and communicate with the main chain and other shards.

Founder(s)

Alexander Skidanov (Co-Founder)– Alex started his professional career at Microsoft in 2009, then joined MemSQL in 2011 as Engineer #1, where he worked for 5 years as Architect and Director of Engineering. He is a 2x ICPC Medallist (gold in 2008 and bronze in 2005).

Illia Polosukhin (Co-Founder)– Illia is an ICPC finalist and has more than 10 years of industry experience, including 3 years at Google where he was a major TensorFlow contributor and a manager of the team building question answering capabilities for the core Google search.

Conclusion
NEAR is a highly scalable blockchain project for running decentralized applications (dApps) that aims to support the mainstream adoption of blockchain-based applications.

The project’s core team comprises some of the finest and experienced engineers, entrepreneurs, and technologists in the world who have developed similar systems in the past.

NEAR is already in the market with a working product based on Blockchain sharding which is similar to what Ethereum 2.0 is working on. A step ahead of big brother Ethereum seems to be a bragging right.

What’s more, the project has already secured a sufficient amount of capital from big-name backers who are committed to seeing NEAR realize its dream of an infinitely scalable, faster, and user-friendly blockchain dApps platform.

Links:

Website: https://near.org/
Telegram:https://t.me/cryptonear
Twitter:https://twitter.com/nearprotocol

my github account : lotfy2