NEAR ProtocolNEAR

Near Protocol is a crypto project composed of a community and foundation centered around a permissionless, open-source, layer-1 blockchain on which developers can build decentralized applications (DApps) and more.

Essentially, everyone involved with the Near project, such as developers, comprises Near’s community, referred to as the Near Collective.

How does Near Protocol work? The project’s smart contract-capable blockchain, officially known as the Near Protocol, is a mainnet proof-of-stake (PoS) blockchain constructed with simplicity for users and developers in mind. The Near Protocol blockchain uses sharding for scaling. (Sharding, in general, involves dividing a blockchain’s workload into multiple channels that function simultaneously.)

The Near Foundation, also known as NF, is a nonprofit entity that supports the Near ecosystem, which comprises the project’s community, DApps built on Near Protocol and more. The Near Foundation also focuses on strengthening the decentralization of the project.

Near has a sizable number of entities backing it, including Andreessen Horowitz, Coinbase Ventures and Blockchain.com. The Near project boasts compatibility with other blockchains and generally aims to be climate-sensitive.

Near Protocol’s crypto asset is NEAR. As the Near Protocol blockchain’s native coin, NEAR serves multiple purposes, such as functioning as the currency with which Near blockchain activity fees are paid. The NEAR coin’s price can be viewed in U.S. dollars (USD). Curious about NEAR price today? The NEAR to USD live price is available at the top of the page, above the NEAR live charts.