What is NEAR coin? Learn what NEAR coin is in one minute

NEAR's innovative sharding technology and user-friendly account management system (SAM) enhance scalability, security, and usability within its blockchain network.

Oct 04, 2024 at 03:23 pm

What is NEAR Coin?

NEAR is a blockchain platform designed for scalability, security, and usability. It employs a unique sharding technology to achieve faster transaction processing times and lower costs compared to other blockchain networks.

Key Features of NEAR Coin:

Sharding: NEAR uses a sharding technique to divide the blockchain into smaller partitions, known as shards. Each shard handles a portion of the transactions, enhancing scalability by distributing the workload.
NightShade: NightShade is a highly efficient consensus mechanism used by NEAR. It combines sharding with a proof-of-stake (PoS) algorithm to provide a secure and scalable network.
Doomslug: Doomslug is NEAR's data structure for storing and organizing blockchain data. It enables fast and efficient data retrieval, reducing latency and improving performance.
Contract-Oriented Sharding: NEAR allows for the creation of custom shards dedicated to specific applications or contracts. This feature enhances privacy and performance for specific use cases.
Simple Account Model (SAM): SAM is a user-friendly account management system that makes it easy for users to create and manage their accounts on the NEAR blockchain.

Benefits of NEAR Coin:

Scalability: Sharding enables NEAR to process a large number of transactions per second, making it suitable for high-volume applications.
Security: NightShade's PoS consensus mechanism provides a high level of security for the network.
Ease of Use: SAM and other user-centric features make it accessible for developers and users alike.
Cost-Efficiency: Sharding reduces the computational load on individual nodes, resulting in lower transaction costs.
Flexibility: Contract-oriented sharding allows for tailor-made solutions for specific use cases, such as industry-specific blockchains.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

gork

$0.0637

46.99%

Trade Now
ABT

$1.0744

27.25%

Trade Now
PRO

$0.8766

20.64%

Trade Now
AVA

$0.0850

19.68%

Trade Now
STPT

$0.0699

17.09%

Trade Now
AB

$0.0090

16.85%

Trade Now

Latest Crypto News

Bitcoin (BTC) price dips to $95.398,74 this Sunday, May 4, 2025, with a daily drop of 1%
2025-05-05 08:20:12
Bitcoin (BTC) price was quoted at $95.398,74 this Sunday, May 4, 2025, with a daily drop of 1%
2025-05-05 08:20:12
Bitcoin [BTC] miners are unusually calm post-halving
2025-05-05 08:16:34
Best Crypto Exchanges in the Netherlands
2025-05-05 08:10:16
Billionaire Ricardo Salinas Goes All-In on Bitcoin: “Buy Everything You Can”
2025-05-05 08:10:16
US Bitcoin ETFs Attract Almost $2B In Deposits Despite Market Correction
2025-05-05 08:10:15

Related knowledge

What is Ethereum’s Slashing mechanism and how to punish malicious behavior?

Feb 20,2025 at 03:08am

Key PointsOverview of slashingDifferent types of slashing in EthereumIncentives and consequences of slashingIdentifying and reporting slashed validatorsOngoing discussions and potential improvementsEthereum's Slashing Mechanism: Punishing Malicious BehaviorEthereum's slashing mechanism is an essential tool for ensuring network security and punishing mal...

What is the verifier node of Ethereum and how to become a verifier?

Feb 19,2025 at 06:00pm

The Verifier Node of Ethereum: A Comprehensive GuideKey Points:What is a Verifier Node?How to Become a Verifier NodeResponsibilities and Rewards of a Verifier NodeMinimum Requirements for Becoming a Verifier NodePotential Difficulties in Running a Verifier Node1. What is a Verifier Node?A Verifier Node is an independent entity on the Ethereum network th...

What is Ethereum’s staking, and how to participate and earn money?

Feb 19,2025 at 04:37pm

Key Points:Understanding Ethereum's Staking MechanismSteps to Participate in StakingBenefits and Rewards of StakingSecurity and Risk ConsiderationsTechnical Requirements and Hardware OptionsPotential Challenges and Troubleshooting TipsFAQs on Ethereum StakingWhat is Ethereum's Staking?Proof-of-Stake (PoS) is a consensus mechanism used in blockchain netw...

What is Ethereum’s DAO (Decentralized Autonomous Organization) and how does it work?

Feb 20,2025 at 03:12am

Key PointsDefinition and Structure of a DAOGovernance and Decision-Making in DAOsBenefits and Use Cases of DAOsChallenges and Limitations of DAOsWhat is Ethereum's DAO (Decentralized Autonomous Organization) and How Does It Work?Definition and Structure of a DAOA Decentralized Autonomous Organization (DAO) is an innovative governance and management fram...

What is Ethereum's multi-signature wallet and how to improve security?

Feb 20,2025 at 02:18pm

Key Points:Understanding the Concept of a Multi-Signature WalletBenefits and Drawbacks of Multisig WalletsRequirements for Setting Up a Multisig WalletStep-by-Step Guide to Generating a Multisig WalletImplementing Strategies for Enhanced Security1. Understanding the Concept of a Multi-Signature WalletA multi-signature (multisig) wallet in the Ethereum e...

What is Ethereum's oracle and how to provide data for smart contracts?

Feb 21,2025 at 01:30am

Key Points:Understanding the concept of oracles in EthereumExploring different types of oraclesDetailed guide on how to provide data for smart contractsAddressing potential challenges and considerationsWhat is Ethereum's Oracle?Oracles are crucial components in the Ethereum ecosystem, enabling smart contracts to access real-world data and off-chain even...