NEAR Scales Up: More Sharding and Stateless Verification Coming Soon

Bittime - The world of blockchain technology continues to strive to overcome limitations and provide a faster and more efficient experience for users. In this effort to increase scalability , NEAR Protocol, a high-performance blockchain platform, has just announced significant improvements to its network. 

This upgrade addresses growing demand for the platform, aimed at increasing its capacity and transaction processing capabilities. Check out the complete details in this article!

What is NEAR Protocol?

NEAR Protocol is a high-performance blockchain platform designed to overcome the scalability challenges often faced by traditional blockchains. It uses a unique architecture that combines sharding with proof-of-stake consensus to achieve fast transaction processing times and low fees. 

NEAR aims to foster a user-friendly and developer-centric environment, making it suitable for a wide range of decentralized applications (dApps).

NEAR is growing rapidly, requiring additional capacity. This upgrade increases network capacity by 50% and is carried out without disrupting the system, so users can still enjoy a fast and stable experience.

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Improved Sharding for Better Capacity

NEAR has successfully increased the number of shards on its network from 4 to 6. Sharding is a technique that breaks the blockchain into smaller, more manageable pieces, allowing for faster transaction processing. 

This upgrade effectively increases network capacity by 50%. It is worth noting, this entire process is completed seamlessly, ensuring a continuous and stable user experience.

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Stateless Verification for Unprecedented Throughput

The NEAR team continues to push the boundaries with plans to launch stateless verification on mainnet by the end of Q2. This innovative technology is expected to be a game changer, increasing the throughput of each shard by up to 5 times. In simple terms, this means the network can handle significantly more transactions simultaneously.

A Bright Future for NEAR

These improvements underscore NEAR's commitment to scalability and user experience. By increasing the number of shards and implementing stateless verification, NEAR is positioning itself to accommodate a growing user base and facilitate a broader range of applications on its platform. This paves the way for a more robust and efficient blockchain ecosystem within the NEAR network.

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How to Buy Crypto on Bittime

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To be able to buy crypto assets on  Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

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Monitor price chart movements  of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Near (NEAR) Protocol Price Predictions Soar, Driven by Interest in the World of AI

5 Near Protocol Based Coins that Have Potential MoonBag

Staking NEAR: A Source of Passive Income Worth Considering

DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.