What Is NEAR Protocol? Reimagine your world: (nfts, polkadot, trading crypto, bitcoin, staking crypto, invest crypto, ethereum, blockchain, defi, cardano, … solana, metaverse, nft) (English Edition)

NEAR Protocol is a layer-1 blockchain that uses Nightshade, a unique sharding technology, to achieve scalability. It was launched in 2020 as a decentralized cloud infrastructure to host decentralized applications (DApps).

NEAR offers cross-chain interoperability through the Rainbow Bridge and a layer-2 solution called Aurora. Users can bridge ERC-20 tokens and assets from the Ethereum blockchain to the NEAR Protocol network, which gives them access to higher throughput and lower transaction fees.
NEAR is the native token of the NEAR Protocol. It’s used for paying transaction and data storage fees. NEAR token holders can also stake their tokens on the NEAR wallet to receive rewards or use them to vote for governance proposals.