🧵My clear perception from the amazing and thrilling #Sheficohort NEAR class with Maggie's teaching and Ida Pandur presentation, blurs the line between reality and imagination in the #NearProtocol where every idea, every concept has the power to shape our future.#Sheficohort10Near @sheisneardao.near Join me as I take you into the beautiful educative realm of #Nearprotocol which i was taught in shefi cohort class where we look into:- >NEAR >TIMELINE AND HISTORY >NEAR ECOSYSTEM >NEAR ECONOMIC MODEL >WHAT MAKES NEAR UNIQUE >SUSTAINABILITY INITIATIVES >CHAIN ABSTRACTION >SOLVING SCALABILITY WITH NEAR PROTOCOL To start the amazing journey we look firstly into NEAR.👇 WHAT IS NEAR? NEAR is a high performance, sharded, layer one and proof of stake blockchain. Made, built and designed for simplicity and scalability for everyone in the web3 community. Near is a carbon neutral blockchain, that make use of an energy efficient consensus to run with a minimal carbon impact and it makes availability of materials and tools needed to build secure, decentralized applications (Dapps) that are friendly to those making use of them. NOW WE MOVE TO NEAR TIMELINE AND HISTORY. Near being an amazing amazing community, with a high performance definitely started from somewhere to where it is now. Let's go through the history: 2017: NEAR was founded by Illia Polosukhin and Alexander Skidanov where they were only focusing on AI challenges and problems before moving into blockchain to solve Ethereum's scaling issues. 2019: in the year 2019, NEAR launched its Mainnet and activated token transfers bringing to the notice of all of its full community operation and its network maturity. 2021: in 2021, the implementation and carrying of sharding technology begins, which was improving the scaling ability 2023: In 2033, NEAR brought to light the Blockchain Operating System (BOS). With the goal and aim of making web3 more accessible and direct directable for the users and those developing. 2024: In 2024, Concentration and emphasis has been on the Chain Abstraction not forgetting its plans for important advancement and progression in AI integration and Sharding. NOW WE MOVE TO NEAR ECOSYSTEM NEAR ECOSYSTEM is a decision driven, growing and vibrant community that makes real world impact with applications that solve real world problems. It is also a growing community of users and developers with varieties of different projects and Decentralized Autonomous Organisations (DAOs). Let's take a look at some the highlights of NEAR Ecosystem: DAOs: The NEAR ECOSYSTEM, assist and gives support to over 125 Decentralized Autonomous Organisation. They are all organised structures that allows Decentralized government and decision making as well. COMMUNITY: The NEAR community has over 550,000 members and 4000 developers. GOING FURTHER, WE TAKE A LOOK AT:- NEAR ECONOMIC MODEL The economic model of the NEAR Protocol is based on a proof-of-stake (PoS) consensus mechanism and utilizes a native token called NEAR. NEAR tokens are used for transaction fees, staking, and as a means of exchange within the ecosystem. NEAR tokens are used for various purposes within the NEAR ecosystem, including paying for transaction fees, staking, and participating in network governance. They are an essential part of the NEAR Protocol's functionality and economy. These tokens often serve several functions: 1. **Utility**: Near tokens may serve as utility tokens within the Near Protocol ecosystem, providing access to services, resources, or functionalities within the platform. 2. **Staking**: They might be used for staking purposes, allowing holders to participate in network validation, governance, or consensus mechanisms and earn rewards in return. 3. **Governance**: Near tokens could be used for governance purposes, enabling holders to participate in decision-making processes related to protocol upgrades, parameter adjustments, or community initiatives. 4. **Transaction Fees**: Near tokens may be required to pay transaction fees for utilizing the platform's services, such as executing smart contracts or transferring assets. 5. **Incentives**: They might be used to incentivize specific behaviors or activities within the ecosystem, such as contributing to development, providing liquidity, or engaging in community-building efforts. 6. **Ecosystem Development**: Near tokens could be allocated for ecosystem development, funding projects, grants, or initiatives aimed at growing and improving the platform's ecosystem. 7. **Interoperability**: Near tokens may facilitate interoperability with other protocols or platforms, enabling cross-chain interactions or asset transfers. These functions can vary depending on the specific design and objectives of the Near Protocol ecosystem, as well as any updates or changes implemented over time. NOW AFTER GOING THROUGH NEAR, THE TIMELINE AND HISTORY, NEAR ECOSYSTEM AND NEAR ECONOMIC MODEL, LET'S PROCEED FURTHER TO WHAT MAKES NEAR UNIQUE. Near Protocol is unique due to several key features: 1. **Sharding**: Near Protocol utilizes sharding to enhance scalability, allowing the network to process many transactions simultaneously. This approach helps Near achieve high throughput while maintaining low latency. 2. **Developer-Friendly**: Near offers a developer-friendly environment with a familiar programming language (Rust and AssemblyScript) and comprehensive tooling. This makes it easier for developers to build decentralized applications (dApps) on the Near platform. 3. **User Experience**: Near focuses on providing a seamless user experience by minimizing transaction fees and confirmation times. This makes Near attractive for both developers and end-users. 4. **Decentralization**: Near aims for a balance between decentralization and scalability, employing a unique consensus mechanism called Nightshade. This mechanism enables fast finality and high throughput while maintaining decentralization. 5. **Community Governance**: Near has a strong focus on community governance, allowing token holders to participate in decision-making processes through on-chain voting. This fosters a decentralized ecosystem where stakeholders have a say in the platform's evolution. Overall, Near Protocol's combination of scalability, developer-friendliness, user experience, decentralization, and community governance sets it apart in the blockchain space. NEXT IS SUSTAINABILITY INITIATIVES NEAR, a blockchain platform, has launched a sustainability initiative aimed at reducing its environmental footprint and promoting eco-friendly practices within its ecosystem. NEAR IS SUSTAINABLE!!!!. It's commitment to carbon neutrality allows it operate within a minimal carbon footprint, utilizing energy efficient consensus mechanisms. CHAIN ABSTRACTION NEAR protocol goals, goes beyond simplicity and scalability. Near goals is for users to have 0 to none idea that they are interacting with a blockchain. Chain Abstraction simplifies blockchain by hiding complex process like infrastructure management, account switching, bridging of asset and handling of gas fee. This abstraction allows developers to write applications that can interact with multiple blockchains without needing to understand the specific details of each one. Let's make use of this beautiful piece as an example }Kyla getting an off day from work, decides to get a milkshake to relax. She takes her mobile phone, opens the kai kai app to make an order for the milkshake from café Jeremiah. }She gets a discount offer from MMA( Kai rewards which are NFTs available on polygon), an art museum hosting a display of art. She accepts it and saves a spot for herself. Being thrilled, she quickly introduced her sister Zee by creating a NEAR wallet for her, assisting her through the process and taking her along to tour the art museum. }To appreciate Kyla, Zee gifts her with few Near tokens she has gotten and then she invests in Ethereum using USDC to continually gets rewards (NFTs) LASTLY WE LOOK INTO SOLVING SCALABILITY WITH NEAR PROTOCOL Near Protocol is a blockchain platform designed to address scalability issues by utilizing a sharding approach. Sharding involves splitting the network into smaller partitions called shards, each capable of processing transactions independently. This allows Near Protocol to handle a higher throughput of transactions compared to traditional blockchain networks. Additionally, Near Protocol incorporates other features such as parallel processing, fast finality, and efficient consensus mechanisms to further enhance scalability and performance. Overall, Near Protocol aims to provide a scalable and developer-friendly platform for building decentralized applications (dApps). In conclusion, The Near class brought to my understanding that the NEAR PROTOCOL, is not only a high performance Layer 1 blockchain but it's also accessible to anyone and everyone, transactions are cheaper and faster, and NEAR IS SUSTAINABLE!!!! And also it was a fun thrilled class which suprised everyone with the special NEAR tokens we got.🤠I love#Sheficohort10class I love#NEAR