KatanaSharp
Wed May 15 2024
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5 answers
1063
Is NEAR Protocol built on Ethereum?
Excuse me, I'm trying to understand the architecture of various blockchain protocols and I'm particularly interested in the NEAR Protocol. Could you clarify something for me? Is the NEAR Protocol built on the Ethereum blockchain? I've heard some people discussing it as if it's a layer-two solution or a sidechain, but I'm not entirely sure. Could you enlighten me on this matter? It would be greatly appreciated if you could provide a brief overview of how the NEAR Protocol fits into the broader cryptocurrency and finance ecosystem, especially if it's not directly related to Ethereum. Thank you for your time and expertise in this field.
Dario
Wed May 15 2024
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7 answers
1508
Is NEAR Protocol a layer 1?
Is NEAR Protocol indeed categorized as a layer 1 blockchain? I'm curious to know more about its fundamental structure and position in the blockchain ecosystem. Layer 1 blockchains are known to form the foundation of the entire blockchain architecture, serving as the base layer for all transactions and smart contracts. Does NEAR Protocol fulfill these criteria, providing the necessary scalability, security, and decentralization that a layer 1 blockchain ought to have? Its unique Nightshade sharding technology and Proof of Stake consensus mechanism are intriguing features, but how do they contribute to its layer 1 status? I'm eager to delve deeper into this matter and understand the nuances of NEAR Protocol's classification within the blockchain hierarchy.
