NEAR Protocol stands as a layer-one blockchain designed as a community-operated cloud computing platform, aiming to surmount the constraints plaguing other blockchains, such as slow transaction speeds, limited throughput, and interoperability challenges. This framework cultivates an optimal environment for
DApps while fostering a developer and user-friendly ecosystem. Notably, NEAR employs human-readable account names, departing from the typical cryptographic wallet addresses seen in
Ethereum. Moreover, it pioneers unique scaling solutions and boasts its own consensus mechanism named “Doomslug.”
The NEAR Protocol is a collaborative effort driven by the NEAR Collective, responsible for refining the initial code and consistently delivering updates to the ecosystem. Their explicit objective is to construct a platform that's both secure enough to manage high-value assets like money or identity and efficient enough to render them accessible to everyday users.
Projects like
Flux, a protocol facilitating the creation of markets based on various assets and real-world events, and Mintbase, an NFT minting platform, exemplify the initiatives blossoming within the NEAR Protocol ecosystem.
