Skip to main content

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.

Comments

Post a Comment

Popular posts from this blog

How NEAR Went Carbon Neutral

  NEAR's Path to Carbon Neutrality Climate change, like the pandemic, is a worldwide catastrophe that is rapidly requiring the attention of the international community. It is a worldwide imperative that will necessitate a great deal of collaboration across various businesses and markets in order to assist reduce its effects. As a result, the United Nations Climate Change Conference (COP26) in 2021 is crucial. Silicon Valley isn't frequently singled out for its carbon footprint, yet each company contributes to a far bigger carbon consumption total. You're on the electrical grid if you're a web-based firm, which implies your platform is almost definitely powered by fossil fuels. NEAR has been focused on a computational alternative to PoW from its birth. There are no miners in this system, which is known as Proof-of-Stake (PoS). Validators, on the other hand, must stake a certain quantity of tokens in order to participate. Communities are rewarded for owning and cont...
Post a Comment
Read more

NEAR Protocol Financial Grant Greatly Broadens DePocket's Already Vast Integration Network

  DePocket Platform Acquires Major NEAR Protocol Financial Grant The DePocket platform announces the acquisition of a substantial NEAR protocol financial grant. This immediately offered the platform the capacity to construct and maintain NEAR ecosystems, allowing users to track their NEAR protocol portfolios within the DePocket dashboard, among other things. The DePocket development team was excited about the new connection and has already started working on making NEAR's functionality as easy as possible within the DePocket App. DePocket's objective, which is now in private sale, is to give customers with a highly complete crypto portfolio and NFT management and platform. DePocket aspires to be the market leader in terms of ease of use and user experience. Users may monitor, manage, invest, trade, and keep any cryptocurrency and/or NFT assets on a single user-friendly, clean, and succinct interface. With just 21 million tokens in circulation, the DEPO token will be the pla...
Post a Comment
Read more

NEAR ecosystem Analysis

  Near Protocol is a major project aimed at creating a conducive atmosphere for the development of altcoins in the cryptocurrency market. As you may know, the inability of the Ethereum blockchain to properly meet the needs of network users was the trigger for creating this project. The Ethereum network has recently suffered greatly from increased demand (NFT, DeFi). Unreasonably high fees, delayed transactions, and a high barrier to entry for new developers wishing to enter the ETH ecosystem. Near Protocol stood out as a solid blockchain at the start of its journey, with the intention of gaining a high niche in cryptocurrency. The team's prominent programmers were able to entice a number of powerful investors to their ideas, including: Of course, this does not go ignored, and investors are clamouring for the Near Protocol to fulfil its promises to expand and incorporate Near technology into the cryptosphere. Although the Near ecosystem is still in its early stages, it is alread...
Post a Comment
Read more