NEAR is the network for a world reimagined. Through simple, secure, and scalable technology, millions are empowered to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future.
NEAR Protocol is a layer-1 blockchain platform that utilizes proprietary technology to achieve scalability. The platform was launched in 2020 as a decentralized cloud infrastructure to host decentralized applications.
As cryptocurrencies and blockchain platforms increase in popularity from potential investors and emerging NFT spaces, scalability challenges begin to arise. Issues such as increased gas prices and growing transaction costs leave users with limited options. NEAR attempts to combat these scalability issues with their exclusive sharding technology.
NEAR Protocol also carries their native token (NEAR) which can be used for paying transaction and storage fees on the NEAR network. The token has a max supply of 1 billion and is the sole currency used for all transactions on Fayyr. Users are able to purchase NEAR tokens by setting up a NEAR wallet and adding funds to it.
For a decentralized protocol like NEAR, it does not matter that not every participant is carbon neutral, but the network should be carbon neutral as a whole. NEAR Foundation engaged South Pole, the leading low-carbon project developer, and climate solutions provider, to measure NEAR Protocol’s carbon footprint and meet its climate neutrality commitment. By offsetting the first year's emissions by supporting tree-planting projects and seeking to reduce avoidable emissions until the second accounting year, NEAR achieved South Pole’s Carbon Neutral Product Label 2021. The three green projects supported by NEAR are Kariba Forest Protection, Vegachi Forest Restoration, and Afognak Forest Carbon.
NEAR Protocol Awarded the Climate Neutral Product Label (April 16, 2021)
The NEAR ecosystem is large and vibrant. Here are some of our closest partners that have helped make Fayyr a reality. Huge thanks to them all!