NEAR Protocol (NEAR) And Its Unique Consensus Mechanism

Dentralized Revolution of cryptocurrencies: closer to view of near the protocol (near)

The Crypto Currency World Witnessed Significant Growth in Recent Yamari, and new projects and platforms appear. Among this, one project stands out for its innovative approach to consensus mechanisms – near the protocol (near). In this article, we recess in Featre and the benefits near the protocol, and Hightlight is a tradition and screen.

What is the Crypto Currency?

Cryptocurrrenci are digital or virtual collections who have accessed the cryptogram for security and decentralized, which means that no int. The most famous curine of the currency is Bitcoin (BTC), but many are on the market, Souch as Ettherem (ETH) and Litecoin (LTC).

What is the consensus of cryptocurrencies?

The consensus mechanism refers to ensure that the agreement agrees that Lockchain agrees. In traditional Crypto currencies such as bitcoin, consensus mechanisms are based on the algorination of the Profi-Com-Com-off-off-off-off-off-offs, which requires a significant pop.

Challenges with traditional consensus mechanisms *

Traditional consensus mechanisms do not have several limitations:

• Energy consumption : Algorithms of the proof of work (POW), this is usually used in the cryptocurrency ions.

• Power Centralization : Algorithms to increase are vulnerable to the centralization, which these small groups control most of Andresours.

• SCALIBILITY QUESTIONS

  

  : Traditional consensus mechanisms can increase transaction costs.

near the protocol (near)

In response to the challenges, an innovative consensus was developed near the protocol. This approach aims to provide a energy -efficient and scalable solution for decentralized applications.

The mechanism of evidence consensus

Mechanism for consensus POS uses in the near protocol as follows:

• Node participation :

• Investment : Nodes are stimulating cannons (near token) in a particular period, providing liquidity and total.

• Block Creation : New blocks are created by set nodes, and this was checked by the network validators.

• Validation : Validation of ensuring that all nodes agree on Synle data.

Byzantine tolerance of mistakes (BFT)

The BFT mechanism uses near the protocol is a Byzantine tolerance of mistakes (BFT), it is for effective and tolerant to facts. This approach ensures that the network remains safe and functioning, ever if the nodes are threatened.

Benefits near Protocolo *

Benefits close to the protocol include:

• Energy efficiency :

• Scality : Access to the Byzantine Tolerance on the Protocol (BFT) allows the network to make more and at hand of flaws.

• Security : Using BFT, the net remains even in the presence of malicious acts.

Conclusion*

In conclusion, near the protocol represents a significant breakthrough in the field of blockchain technology. Its innovative consensitive mechanism, is a bad proportion (POS) with Byzantine breakdown (BFT), a collection of world benefits.