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What is NEAR? | CoinMarketCap | YouTubeToText
YouTube Transcript: What is NEAR?
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nier is a layer one blockchain that's
simple to use super secure and
infinitely scalable
it does this by using a breakthrough
piece of technology called nightshade
which allows the near blockchain to
record and verify transactions just like
other networks only faster cheaper and
more securely
near protocol is being built by the near
collective a worldwide community of
developers researchers and scientists
the founders iliya belusakin and
alexander skinidoff who worked at google
and memci bowl the distributed sharded
database that powers goldman sachs
samsung and uber wanted to create a
network that was easy to use for
developers and also for users
so they created near using proof of
stake proof of stake is a consensus
method that differs from the more
traditional proof of work method used on bitcoin
bitcoin
validators secure the network by locking
up near tokens in escrow and earning
rewards as a result
if the validator tries to cheat the
system they lose their stake or the
community can vote them out
for regular users they can delegate
their tokens to a validator to earn
rewards too
this means that unlike bitcoin giant
power hungry machines are not needed to
secure the network making near a more
eco-friendly platform than its rivals
to make near super fast it uses a
technology called sharding we'll get
into that in one of the following videos
with rainbow bridge and aurora
developers building on ethereum can take
advantage of near's speed and
scalability without having to leave the
network octopus network meanwhile allows
anyone to build their own version of an
application-specific blockchain and
connect it to near's mainnet for speed
scalability and security the near
platform is also great for users its
simple wallet allows anyone to get
started within seconds with minimal fuss
no pop-ups no switching networks no
crypto jargon just a wallet that is
effortless to use
underneath the slick and simple exterior
lies a ton of features that let
developers create a seamless user
experience whenever they interact with
the near ecosystem
register your near wallet with a
yourname.near shortcut head over to
wallet.near.org and start enjoying an
experience where accessibility and
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