With an aim to create a world where people would be having the power to control their money, data, and the tools to form new ideas, Near Protocol is committed to empowering people to invent and explore new experiences.
The Foundation came into existence last year, it’s a non-profit, non-beneficiary organization dedicated to grouping all the active participants in the ecosystem, making them up, and driving the Near ecosystem. To understand the concept of Near Protocol, you should know that the Near ecosystem is a foundation, a collective, and a blockchain.
Talking about the Near Foundation first, consider this entity as a portfolio manager of the Near Ecosystem which holds the responsibility to drive the applications to success. It does so by incorporating three key activities, which are:
- Raising awareness related to Near technology
- Allocation of investments to fuel the best initiatives in the ecosystem
- Support and create value for the projects in the ecosystem.
Moving further to Near Collective, it is constituted by innovators, creators, contributors, and wild cards to facilitate the creation of a strengthened ecosystem. With Near Collective, you can build connections, assist people to grow, create a better future, and get rewarded for your contribution.
The third segment of the Near Ecosystem, Near Blockchain, works on a proof-of-stake consensus mechanism and is a public blockchain.
Key Takeaways
Well, it should be laid an emphasis on the fact that Near Protocol facilitates a sturdy infrastructure involving a set of instinctive developer tools, engaged and decentralized community.
In addition to this, the Near Protocol strives to eliminate the restrictions and limitations to the adoption of Web 3 with increased speeds, low charges, and progressive UX. The platform also runs in concert with popular platforms like Ethereum, Cosmos, and Polkadot, which allows the free flow of assets and communication.
