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History of Near Protocol

 


Near Protocol was originally conceived as a machine learning platform. Illia Polosukhin and Alexander Skidanov founded it in 2017. Near.ai was the name at the time. They learned about smart contracts and cryptocurrency while investigating, which they found fascinating. They felt driven to learn more about cryptography and conduct more study.

They began researching blockchain technologies on which to construct their applications. However, they came to the conclusion that no blockchain platform could match their needs and aspirations. As a result, they created Near Protocol to meet their internal requirements. Illia Polosukhin and Alexander Skidanov were explicit in their desire to create a hugely scalable blockchain platform that would allow developers to launch their strong DApps. As a result, they picked the Proof-of-Stake mechanism over Proof-of-Work.

Illia Polosukhin holds a Master's degree in Applied Math and Computer Sciences from Kharkiv Polytechnic Institute of National Technical University. As a software developer, he joined Salford Systems in 2008. In 2014, he joined Google as an Engineering Manager. He is currently a co-founder of Near Protocol, which he founded in 2017.

Izhevsk State Technical University awarded Alexander Skidanov a Master's Degree in Computer Sciences. He began his career as a software developer at Microsoft before moving on to MemSQL as a Senior Software Developer and Director of Engineering for five years. He has been the co-founder of Near Protocol with Ilia Polosukhin since June 2017.

Alexander and Illia's backgrounds reveal their abilities and qualifications. Alexander received the ICPC gold medal in 2008, which is given out after a hard competition between college students all over the world. In the same competition, Illia was a finalist. Near Protocol was viewed as having enormous promise by investors. Near Protocol raised $50 million in the first four months, even before they constructed anything. In a bear market, no less. Alexander Skidanov and Illia Polosukhin were the only team members in the beginning. However, within a few days of the launch, the team had grown to ten members. Today, the Near Protocol team is known as Near Collective, and it employs over 80 people.

What is Near Collective and how does it work?

The Near Protocol blockchain is powered by the Near Collective, a group of internationally known specialists. They want to advance the Near Protocol project by working on it at the greatest level possible. The major purpose of the Near Collective is to keep the Near Protocol blockchain immensely scalable in order to satisfy developer needs and maintain the developer and end-user experience.

Near Tokenomics

NEAR is the native token of Near Protocol, and it is used to power the ecosystem's economy. Near tokens will be used by developers and users to pay for data storage and system transactions. By staking NEAR tokens, any user who wishes to join in the network as a node can do so. All NEAR token holders are also granted voting rights, allowing them to participate in the Near Protocol governance process and vote on key topics that will determine the protocol's future direction.

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