Introduction to NEAR Protocol (NEAR)

NEAR Protocol acts as a virtual marketplace wherever developers and finish users will move and trade currency for merchandise and services. close to allows the employment of sensible contracts - contracts that self execute once the terms set by the customer and merchant ar met.

These contracts ar traceable and irreversible. the employment of sensible contracts permits for developers and customers to securely purchase or sell merchandise and services while not the necessity for a central authority or external social control.

Contract rewards ar paid bent on all developers whose contracts were used throughout a dealings, with the payment being received supported rules per the contract. This reward is presently set at a minimum of half-hour of the dealings fee and developers will specify extra fees paid by the customer within the contract.

Developers pay money for the storage of contracts by being needed to take care of an exact quantity of tokens supported a hard and fast tokens per computer memory unit price that may solely be altered through major governance selections. This fee presently needs developers to take care of a balance of one close to per ten kilobytes of storage used, though this is often expected to vary as platform usage will increase.

The protocol has its own native cryptocurrency (NEAR) that's wont to pay money for dealings fees and storage; also as for the acquisition of products and services being sold-out on the close to protocol. There ar presently 674 million coins in circulation with a most offer of one billion.