One article to understand what NEAR coins are and which country NEAR coins are from

The NEAR coin is a cryptocurrency that powers the NEAR Protocol, a blockchain platform known for its Proof-of-Stake consensus and Nightshade sharding technology.

Oct 08, 2024 at 09:30 pm

What is the NEAR Coin?

The NEAR coin is a cryptocurrency that powers the NEAR Protocol, a blockchain platform designed for decentralized applications (dApps) and smart contracts. NEAR aims to provide a user-friendly and scalable platform for developing and deploying dApps.

Key Features of NEAR Coin

• Proof-of-Stake (PoS) Consensus: NEAR uses a PoS consensus mechanism, which allows users to participate in network validation and earn rewards based on the amount of NEAR coins they hold.
• Nightshade Sharding: NEAR employs a sharding technology called Nightshade, which divides the network into smaller segments (shards) to improve scalability and reduce transaction fees.
• Human-Readable Account Names: NEAR allows users to create account names using human-readable phrases instead of complex cryptographic addresses.
• Fuel: NEAR's transaction fee token is called "Fuel." Fuel is used to pay for the computational resources required to execute transactions on the NEAR network.

Origin of NEAR Coin

The NEAR Protocol and its native token, NEAR, were created by the NEAR Foundation, a Swiss non-profit organization. The NEAR Foundation was established in 2020 to develop and support the NEAR ecosystem.

Conclusion

The NEAR coin is a key part of the NEAR Protocol ecosystem, which provides a scalable and user-friendly platform for developing and deploying dApps. With its PoS consensus, Nightshade sharding, and human-readable account names, NEAR is well-suited for building and running decentralized applications. It is important to note that NEAR is not a country but a cryptocurrency and blockchain platform.