NEAR Protocol (NEAR) And Its Unique Consensus Mechanism
unlock cryptative power: understanding near the protocol (nearby) and its innovative consensus mechanism
The world of cryptocurrency has had enormous growth and enormous innovation in recent years, and many new projects have emerged that would disturb traditional financial systems. Among them is a revolutionary example of a decentralized blockchain -open code network near them (nearby), which is ready to revolutionize the way we think about digital transactions.
What is close to the protocol?
There is open hair near the protocol, a decentralized public network that was designed by Blockstream and developed in cooperation with a diagram. Nearby nearby was built on a deleted mechanism of the Evidence consensus (POS), which enables faster transaction time, lower energy consumption and greater scalability compared to conventional blockchain networks.
A unique consensus mechanism: proof of history
An innovative mechanism for an innovative consensus is based on the concept of “evidence of history”, in which validators are selected on the basis of their historical transactions. This approach not only ensures that the security and unchangeability of blockchain, but also introduces a new aspect, which is known as “the transitions of the state”.
Call transitions occur when new data or updates are carried out on blockchain, which initiates a validation process for potential validators. In traditional mechanisms of the POS consensus, validators are selected based on their current blockchain state. However, the approach to the evidence of the history of Bloars provides the selection of a validator based on their historical transactions and their reputation.
This unique mechanism leads to various important advantages:
* Increased security : If you only allow the validators to propose transactions that are valid in the past, the likelihood of malicious actors that take part in blockchain is reduced.
* Improved scalability : Sharded Architecture enables faster transaction time and greater scalability compared to conventional blockchain networks.
* improved transparency
: The detection of the course mechanism provides a clear test of all transactions, so it is easier to monitor and check the blockchain integrity.
Key features near the protocol
Innovative mechanism for innovative consensus complements several other key features that make it an attractive choice for developers:
* Smart Contract compatibility : Nearby supports the functionality of smart contracts with its compatibility with a popular frame such as a truffle package.
* Support for decentralized finances (dead) : Nearby is already integrated into the definition of an application and offers users a NOCE experience.
* Interoperability : With Glivar Shared Architecture you can interact between different blockchain networks.
Diploma
Near the protocol, it is a significant leap forward in the development of the decentralized blockchain open code technology. Its innovative consensus mechanism, proof of history, offers a unique solution for the traditional consensus mechanisms based on POS. With its characteristics of scalability, security and transparency, the way we think about digital transactions can revolutionize nearby.
While the landscape of cryptocurrency is developing, it is crucial to understand the small things of the close protocol and its unique advantages. Due to the acceptance of the protocol and its top technology, developers can unlock new opportunities for innovation and growth in the world of cryptocurrency.
Sources:
- Blockstream. (2022). Near the protocol.
- Diagram. (2022). O near the protocol.
Programmer recommendations:
- Get to know the glittering architecture and proof of the consensus of history.
- Discover compatible frames of intelligent contracts nearby, such as: B. a truffle apartment.
- Join a close ecosystem to be up to date with the latest achievements and best practice.