🧵@NEARProtocol is spearheading placing emphasis on scalability, robust security measures, and many others. My insights on this paradigm shift were gleaned from the illuminating #SheFi10chort's Near class within Maggie's lesson and ida 's presentation. #SheFiCohort10Nearclass @sheisneardao.near Dive into the depths with me, and let's explore the fascinating world of NEAR Protocol: Looking at:- - NEAR -The TIMELINE and HISTORY of NEAR protocol. -What makes NEAR protocol unique??? -NEAR's Economic Model -NEAR ecosystem To kick things off🔥,let first Define NEAR👇👇 WHAT IS NEAR? NEAR is a layer one,sharded,proof- of- stake block chain built with usability in mind,which is designed for everyone to power the future of the open web. A user-friendly and carbon-neutral blockchain, built from the ground up to be performant, secure, and infinitely It provides developers with the tools they need to build scalable, secure, and user-friendly decentralized applications (dApps). Let now look at TIMELINE and HISTORY👇👇 The TIMELINE and HISTORY of NEAR Protocol are as follows: 1/4 2017: NEAR Protocol was founded by Illia Polosukhin and Alexander Skidanov. Initially, the focus was on AI challenges before pivoting to blockchain to address Ethereum’s scaling issues. 2/4 2020: The NEAR mainnet was launched, marking the start of a fully operational community-driven network. The same year saw the activation of token transfers, indicating the network’s maturity. 3/4 2023:NEAR introduced the Blockchain operating system (BOS) aiming to making web3 more accessible and navigable for developers and users. 4/4 2024:The focus has been on chain abstraction,with plans for significant advancement in sharding and AI integration to further improve the protocol's capabilities. Below👇👇👇 is what makes NEAR PROTOCOL unique💫💫 WHAT MAKES NEAR PROTOCOL UNIQUE? NEAR stand out in the crowded Blockchain space due to it concensus mechanism of SHARDING +PROOF OF STAKE (POS). SHARDING in NEAR protocol is a groundbreaking technique designed to enhance scalability and performance within the Blockchain Network.This innovative approach involves dividing the network into smaller,more manageable segments called shards,each capable of processing transaction. PROOF OF STAKE:NEAR protocol uses a version of Thresholded proof of stake(pos).In proof -of- stake, users show support to specific network validators by delegating Near tokens to them.This process is known as staking. CHAIN ABSTRACTION in the NEAR protocol refers to the concept of making Blockchain technology invisible within the user experience,Essentially,it allows users to interact with Blockchain applications and services without needing to know they are using a Blockchain. Let's explore an example👇👇 Rachel took her phone and uses the kaikai app to order discounted latte from brew Haven. later she discovers that her kaikai points have grant her access to a virtual coffee tasting event hosted by brew in Haven's head Barista. Excited by virtual coffee tasting event, she reserves a spot,unaware it's an NFT on Ethereum. Excited about the event,Rachel decides to bring her friend Trisha along,Trisha send her address to Rachel and opens her app to view the event details. Trisha shows gratitude to Rachel with Naer tokens,then invest in Ethereum on the bus,using USDT as collateral ti mint unique NFT.. Futher more,Let's Look at NEAR's Economic model.👇👇 NEAR'S ECONOMIC MODEL NEAR protocol operates on a unique economic model designed to incentivize network participants and foster sustainable growth Through the NEAR TOKEN. NEAR TOKEN This the native token used in NEAR protocol.serving several critical functions,which are:- SECURING THE NETWORK:NEAR Token are staked in the network's proof-of-stake consensus mechanism.This staking process helps protect the network against attack. UNIT OF ACCOUNT:NEAR Tokens are used to measure and price computational and storage resources on the NEAR network.Users pay transaction fees in NEAR to process changes and transactions. MEDIUM OF EXCHANGE:NEAR Token facilitate value transfer within the NEAR ecosystem.They enable applications of charge for services and users to transact without intermediaries. Let delve Into the NEAR Ecosystem for insight...👇👇 NEAR ECOSYSTEM The NEAR ecosystem is a vibrant and growing community with a variety of projects,decentralized autonomous organisations (DAOs),and infrastructure components.Here are some Highlights. DAOs:The ecosystem supports around 125 DAOs,which are organizational structures that allow for decentralized governance and decision-making. COMMUNITY:NEAR's community includes over 550,000 members and 4000 developers,fostering for collaborative environment fir innovation. GUILDS:with 120 guilds NEAR protocol provides a platform for group with common interests collaborate and contribute to the ecosystem. Learn more: near.org Fascinating world of @NEARProtocol In conclusion,The NEAR protocol is scalable, user friendly blockchain platforms that support a wide array of projects and DAOs.NEAR's focus on making Blockchain technology accessible to and practical for real world applications while being carbon-neutral.