NEAR Protocol

NEAR Protocol is a layer-one blockchain that runs on proof of stake and achieves scalability through sharding. The project, whose mainnet went into operation in 2020, distributes transactions across shards running in parallel in its design called Nightshade; users can transact with readable account names instead of long address strings.

Recently, the ecosystem's focus has been chain abstraction and artificial intelligence applications. The chain signatures feature lets a NEAR account sign transactions on other blockchains. NEAR Intents, meanwhile, is described as an intent layer in which users describe the transaction they want to make and solvers complete that request across different networks. The Switzerland-based NEAR Foundation is the organization that supports the ecosystem.

The NEAR token is used to pay network fees, to cover on-chain data storage and to contribute to network security by being staked with validators. Lzzo.com takes the NEAR Protocol price from the Binance NEAR/USDT trading pair and converts it to US dollars using Coinbase Exchange's USDT/USD rate; the data is for information only.