Over 100 Layer-1 blockchains have emerged in the smart contract market since Bitcoin was the only Layer-1 blockchain fifteen years ago. These blockchains are constantly improving performance and changing the environment. Layer-1 chains’ capacity to successfully resolve the scalability trilemma — achieving decentralisation without sacrificing security and enabling scalability — determines their level of success. Once Ethereum proved to be a game-changer, bringing DeFi, innovation, and millions of users together, its first flaws became apparent. Ethereum was a fantastic initial effort to build a more practical chain, but it was unable to be a scalable answer. Following this, networks like NEAR Protocol, Solana, Polygon, Avalanche, and Binance Smart Chain have arisen as strong rivals for Ethereum. This article will highlight some difference in Near protocol and other blockchain platform. About Near NEAR Protocol — a smart contract-enabled blockchain and data storage network founded by Alex Skidanov and Illia Polosukhin. It serves as a community-operated cloud infrastructure for hosting dapps that enables developers to build and deploy smart contracts quickly and securely with minimal costs. The native NEAR token plays an essential role in securing the network via the NEAR Protocol PoS consensus mechanism. Also, NEAR uses a process called “sharding” to address the issue of scaling public blockchain networks. Characteristics that set Near Protocol apart from other Blockchain systems TECHNOLOGY:- Most L1s have sought to make up for what Ethereum lacks in speed and cost-effectiveness, and have different solutions to the trilemma. Cosmos focuses on interoperability, Avalanche on decentralization, Fantom on throughput, and Solana on DeFi. NEAR goes for a comprehensive solution to the problem and tries to deliver on multiple levels as a sharded PoS layer-1 blockchain built for usability and scalability. NEAR came up with NightShade, which improves classic blockchain sharding by sharding individual blocks instead of the main chain. Rather than work on the network passing through each node, it is split among all participating nodes and run in parallel. Gas Fee:- Of all blockchain networks, NEAR has the lowest transaction costs; it charges less than 0.00001 NEAR, or less than one cent. While Layer 1 chains like Ethereum and BNB sometimes have fees over $1, this lets users conduct an infinite number of transactions without worrying about gas prices. Even sometimes Near don’t even charge any fees and allow us gas free transaction which is it’s unique feature. Usability:- For most L1s, the focus is on making their platforms and chains developer-friendly, but most depend on the Ethereum Virtual Machine (EVM) and Ethereum’s smart contract language Solidity, to ensure compatibility with Ethereum and harmonize smart contracts. This is basically where NEAR separates itself from other L1s. Unlike other L1s, like Avalanche, which adopted Solidity to make compatibility with Ethereum easy, NEAR broke the mould by going full developer-first mode by supporting WebAssembly (WASM). This means developers can port over traditional Web2 apps or write their new dApps and smart contracts in languages like Java, C, C++, and Rust. Smooth Experince to User:- Processes like onboarding, sign-up, and subscription to dApps are very user-friendly and mirror the process of traditional Web2 apps so that the end-user can feel a sense of familiarity. Another sleek difference with other chains is how a NEAR wallet is not a browser extension but opens like a browser page like a traditional Web2 app. EVM compatibility:- Going back to EVM compatibility, NEAR flexed major technology through Aurora. Deployed as a smart contract on NEAR, Aurora acts as a fully functional standalone network allowing for sharded trustless and permissionless bridging between Ethereum and NEAR, with lower transaction fees compared to the Layer 2 scaling solutions of other chains. Tokenomics:- NEAR Protocol contains a native token with use cases, just like the majority of L1 chains. Staking the token ensures network security. Furthermore, unlike other chains like Solana, Cardano, and Polkadot, reordering of transactions is not permitted because to the distinctive tokenomics of NEAR. Users can flood the platform with greater petrol fees to get their transactions through first by reordering transactions with additional fees. This causes congestion, a surge in petrol prices, and delay. There are many more thing to discuss and get know to dive deep into Near Protocol and it’s competitors. But that’s is for now. Hope you like it. Thankyou for Reading!!!! #near @nearukraineguild.near