An Introduction to the Near Protocol: What is it and How Does it Work?

If you want to create decentralized apps, the solution may be Near Protocol. This software encourages a network of computers to operate as a platform for developers. As a consequence, creating and releasing their own decentralized application is straightforward. You’ll discover everything you need to know about Near Protocol in this guide. What is Near Protocol? Near Protocol is a blockchain protocol created to improve the performance and fees associated with Ethereum. It uses sharding in order to make its blockchain more scalable. This process essentially allows the network to be divided into multiple subnetworks, each of which can process transactions in parallel. As a result, the overall network can handle more transactions without being bogged down. In addition to sharding, Near Protocol also uses something called “state sharding”. This means that every machine on the network only stores a portion of the data (or “state”). By doing this, it becomes unnecessary for each machine to store the entire blockchain history. Not only does this make the network more scalable, but it also makes it more secure since there would be no single point of failure. Origin of Near The idea for the Protocol originated in early 2017 when co-founders Alex Skidanov and Illia Polosukhin were working on scaling solutions for Ethereum. They quickly realized the existing blockchain protocols were not well equipped to handle large-scale applications d...