NEAR Protocol is a highly scalable base protocol that ensures fast enough support for DApps to run on mobile devices.
NEAR Protocol allows developers to build mobile blockchain DApps and run them on the user's local machine, while providing developers with important information about DApps. Through state sharding, the blockchain is allowed to scale linearly with the number of nodes in the network, and the target is 100k TPS based on 1 million mobile nodes.
NEAR is used to pay for validators, who provide the network with scarce computing and storage resources.

Project Introduction

NEAR Protocol is a decentralized application platform designed to make applications similar to the availability on the web today. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, designed to provide dynamic scalability and stable fee rates.

NEAR is the native utility token within the network with the following use cases:
Fees for processing transactions and storing data.
Stake NEAR tokens to run network validators.
It is used for network governance voting to determine the allocation of network resources and the future technical direction of the protocol.

The NEAR protocol creates a series of tools for developers and users, including:
NEAR SDKs: A complete SDK toolkit including standard data structures, examples and testing tools for Rust and AssemblyScript.
NEAR Gitpod: NEAR uses Gitpod to create a great onboarding experience for developers.
NEAR Wallet: A wallet reference implementation designed to work seamlessly with a progressive security model that enables application developers to design more efficient user experiences.
NEAR browser: Assist in contract debugging and understanding of network performance.
NEAR Console Tools: A set of simple command-line tools that allow developers to easily create, test and deploy applications from their local environment.

NEAR Protocol launched its mainnet on April 22, 2020, and created 1 billion NEAR tokens. An additional 5% of the supply is issued annually as block rewards, with 90% allocated to validators (4.5% total) and 10% allocated to the protocol reserve pool (0.5% total). 30% of transaction fees are paid as rebates for the contracts that interact with the transaction, and the remaining 70% are burned.