NEAR Protocol
Name
NEAR Protocol
Summary
NEAR Protocol is a layer-one blockchain
-NEAR Protocol was founded by Erik Trautman, Illia Polosukhin, and Alexander Skidanov in 2018.
-NEAR operate on a variation of the proof-of-stake consensus mechanism called Doomslug
Rating
Symbol
NEAR
Overview
The NEAR Protocol is a community-run cloud computing platform. It addresses some of the issues that have plagued competing blockchains, such as transaction speeds, throughput, and compatibility. This creates a perfect environment for DApps and a platform that is both developer and user pleasant. NEAR, for example, employs human-readable account names rather than the cryptographic wallet addresses used by Ethereum. NEAR also offers unique scaling methods and has its own consensus mechanism, dubbed "Doomslug."
The NEAR Collective, the NEAR Protocol's community, is maintaining the basic code and distributing improvements to the ecosystem. Its stated purpose is to create a platform that is "safe enough to manage high-value assets such as money or identity while still being performant enough to make them valuable to regular people."
NEAR Protocol projects include Flux, a protocol that allows developers to design markets based on assets, commodities, and real-world events, and Mintbase, an NFT minting platform.
Historical Price Movement (in INR)
Technology
Doomslug is a variant of the proof-of-stake consensus process used by NEAR. Doomslug is based on two rounds of consensus, with a block deemed complete after it has received the first round of communication. By having validators take turns producing blocks rather than competing directly based on their stake, near-instant finality is achieved.
The NEAR Foundation is a non-profit organization established in Switzerland that is dedicated to protocol maintenance, ecosystem funding, and protocol governance. The protocol has also created a bridge to Ethereum, allowing users to send ERC-20 tokens from Ethereum to NEAR.
NEAR's Nightshade technology significantly boosts transaction throughput. Nightshade is a sharding variant in which different sets of validators process transactions in parallel over numerous sharded chains, boosting the blockchain's overall capacity. In contrast to "normal" sharding, Nightshade shards produce "chunks," which are a fraction of the following block. As a result, the NEAR Protocol can process up to 100,000 transactions per second and achieve near-instant transaction finality thanks to a one-second block cadence, all while lowering transaction fees to a bare minimum.
By having human-readable addresses and constructing decentralized applications with similar registration flows to what users have already experienced, NEAR Protocol improves on the cumbersome onboarding process of other blockchains. Furthermore, it gives developers modular components, allowing them to swiftly begin applications like as token contracts or NFTs.
Community Grants
17.2%
Operation Grants
11.4%
Foundation Endowment
10%
Early Ecosystem
11.7%
Core Contributors
14%
Backers
17.6%
Small Backers
6.1%
Community Sale
12%
Volume (26th April 2022)
$1,267,931,536
Total Supply
1000000000
Circulating supply
645,251,935.00 NEAR
Crowd Sales
NEAR Protocol has raised a total of $162.1M in funding over 7 rounds. Their latest funding was raised on Feb 20, 2022 from a Secondary Market round.
Funding
20/02/2022:Secondary Market-NA
13/01/2022: Initial coin offering- $150M
19/01/2021: Venture Round-NA
20/09/2020: Venture Round- NA
10/07/2019: Series A- $12.1M
1/04/2019: Venture Round-NA
24/07/2018: Pre Seed Round-NA
Country
USA
Name of Organization
Near INC.
Year Incorporated
2017
Registered Address
181 2ND STREET SAN FRANCISCO CA 94105
Dispute Resolution and Governing Law
USA
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Alexander Skidanov | Co-Founder at NEAR Inc | Izhevsk State Technical University (ISTU): Master’s degree in Computer science | 12 yrs |
| Illia Polosukhin | Co-Founder at NEAR Inc | National Technical University "Kharkiv Polytechnic Institute": Masters degree in applied maths (computer science) | 13 yrs |
| Marieke Flament | CEO at NEAR Foundation | London Business School: MBA, Business, Finance, Management, StrategyShanghai Jiao Tong University: Master, Information securityEcole nationale supérieure des Télécommunications: Master, networks, management, information security | 15 yrs |
Whitepaper 
