Near NEAR Protocol - Network Overview

<p><a href="https://p2p.org/near">NEAR Protocol</a> is an open-source platform built to streamline the development and growth of decentralized applications (dApps). </p><p>NEAR is designed with security and performance at the core, allowing developers to create applications which manage high-value assets including money, identity and contractual information, whilst at the same time allowing for quick and efficient access. </p><p>With a focus on providing developers with a clean, user-friendly experience, NEARs approach to development is one focused around accessibility and scaling blockchain applications to accelerate the world’s transition to open, decentralized technologies. The protocol is a public, sharded, developer-friendly, proof-of-stake blockchain, making it an efficient platform due to its scalability and ease of use.</p><p>NEAR is compatible with Ethereum 1.0 today providing a complete integration with Solidity contracts (without the need for rewrites). Furthermore, an ETH-NEAR bridge allows for cross-chain interoperability and communication. This provides developers with flexibility and removes the need to fully commit to just one tech stack. </p><h2 id="market-size-potential">Market Size &amp; Potential</h2><p>Near Protocol was launched in 2020 with a vision to give back control of financial assets and sensitive data to the users to which it belongs, with an ambition to build digital infrastructure for a new internet where evil actors are barred from manipulating it.</p><p>Similar to what has been developed by Ethereum and Polkadot, NEAR is a base-layer blockchain allowing for applications and programs to be built on top of it. Imagine Amazon’s AWS, except controlled by the NEAR community. </p><p>Through the use of <a href="https://near.org/blog/the-beginners-guide-to-the-near-blockchain/">Sharding</a>, NEAR has a capacity to scale up significantly beyond the capabilities of existing blockchain solutions. Unlike with non-sharded networks, transaction fees on the NEAR network can be kept low due to congestion on the network being alleviated through dynamically expanding the system’s capacity via resharding.</p><h2 id="token-allocation-utility">Token Allocation &amp; Utility</h2><p>The NEAR platform is built around NEAR - a token which enables holders to use, build and deploy applications, take part in the governance of the network and earn staking rewards in the process.</p><!--kg-card-begin: markdown--><p> </p> <!--kg-card-end: markdown--><figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/RzQWj6MXQhRsAoLx2H9SwVaV0csfZ3IuJTF25tpNLZyVdd7W3rQcm1bFH7HDq0woP0xvXDnj0jr5yC8v3Tec1s4Y9WUkqNRDRWTzs-9BW7XFWB6LKD5E5MJv9XamXSEBQFtiLs-8" class="kg-image" alt></figure><!--kg-card-begin: markdown--><p> </p> <!--kg-card-end: markdown--><p>The NEAR token sale was conducted in August 2020 with a fundraising goal of $12,500,000 which was successfully met. Investors include MetaStable, Electric Capital, Accomplice, SVAngel, Amplify and HomeBrew. </p><!--kg-card-begin: markdown--><p> </p> <!--kg-card-end: markdown--><figure class="kg-card kg-image-card"><img src="https://lh5.googleusercontent.com/QDO53uGsKFjvI_svYrUOV6y0DXL8PXBkJGViIPZ3mU2h0EUVkxxt5qahiDMkvNT65-YZcpDdo-XeyhjQT0lqnjGIDWRVJjracdZryC63zsh7GUswd4wEbQ6c3ZXnj7MUmeDBipvq" class="kg-image" alt></figure><!--kg-card-begin: markdown--><p> </p> <!--kg-card-end: markdown--><p>The NEAR token is the manner in which users - developers, builders, community members, use applications on top of the NEAR network. By “use”, this refers to e.g. submitting transactions on the network. This makes the NEAR token an essential utility unit within the network.</p><p>The network utilises a “gas” model very similar to that deployed by Ethereum used to pay for transactions on chain. Through a “block-rewards-with-burn” model, NEAR supply decreases over time as token supply is burned with rates of high usage. The annual token emission is 5%, while the final inflation can fluctuate based on usage and transaction burns.</p><p>Even a negative inflation is a possibility based on the amount of fees burned. The effective inflation rate is calculated every epoch (½ a day). </p><p>NEAR validators are rewarded with a predetermined inflationary reward with incentives aligned to incentivise enhanced network usage through improving validator return rates and security.</p><h2 id="slashing-risk">Slashing Risk</h2><p>Currently slashing is turned off but it is considered to be added with an increase of shards in the system. </p><p>NEAR validators can be penalised in two primary ways resulting in a partial loss of a delegated stake:</p><ol><li>Double Signing: Signing two blocks at the same height.</li><li>Invalid Chunks: Producing a chunk with invalid data.</li></ol><p>These types of errors can occur for a number of reasons, both due to malicious intentions, as well as due to non-malicious errors or misconfigurations.</p><p>To better manage the risk of accidental slashing, NEAR network uses a progressive slashing system where the portion of slasked stake is a multiple of the amount of stake that exhibited the double signing behavior during the epoch in question.</p><h2 id="useful-near-resources">Useful NEAR Resources</h2><ul><li><a href="https://near.org/">Website</a></li><li><a href="https://near.org/papers/the-official-near-white-paper">Whitepaper</a></li><li><a href="https://near.org/blog/">Blog</a></li><li><a href="https://github.com/near">Github</a></li><li><a href="https://twitter.com/nearprotocol">Twitter</a></li><li><a href="https://t.me/cryptonear">Telegram</a></li></ul><p>To learn more about delegating NEAR with P2P, visit <a href="http://www.p2p.org/near">www.p2p.org/near</a>. </p><h2 id="about-p2p-validator">About P2P Validator</h2><p><a href="https://p2p.org/">P2P Validator</a> is a world-leading non-custodial staking provider securing more than $3.2 billion in staked assets by over 6000 delegators across 25+ top-notch networks. Our infrastructure is under advanced monitoring with alerts and 24/7 technical support making it the best choice for institutional investors.</p><hr><p><em><strong>Web</strong></em>: <a href="https://p2p.org">p2p.org</a><br><em><strong>Stake NEAR with us</strong></em>: <a href="https://p2p.org/near">p2p.org/near</a><br><strong><em>Twitter</em></strong>: <a href="https://twitter.com/P2Pvalidator">@p2pvalidator</a><br><em><strong>Telegram</strong></em>: <a href="https://t.me/P2Pstaking">t.me/P2Pstaking</a></p>

Alex Bond

from p2p validator

Near Near Protocol (NEAR) Staking Guide

<p><em>The following guide walks you through the process of NEAR staking. This guide is for those who already have a funded NEAR account. If you don’t, go to </em><a href="https://wallet.near.org/"><em>wallet.near.org</em></a><em>  to set up an account.</em></p><hr><p>Near Protocol (NEAR) is an open-source platform which is designed to build and empower decentralised applications. NEAR token holders can stake their tokens to earn up to 11% APY. </p><p>1. Import your account from <a href="https://wallet.near.org/"><em>wallet.near.org/</em></a> and access it. If you use ledger make sure that firmware and NEAR application is up to date.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2021/02/1import-existing-one.PNG" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2021/02/1import-existing-one.PNG 600w, https://economy.p2p.org/content/images/size/w1000/2021/02/1import-existing-one.PNG 1000w, https://economy.p2p.org/content/images/size/w1600/2021/02/1import-existing-one.PNG 1600w, https://economy.p2p.org/content/images/2021/02/1import-existing-one.PNG 1896w" sizes="(min-width: 720px) 720px"></figure><p>2. Navigate to the <em>Staking</em> tab and press <em>Stake My Tokens.</em></p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2021/02/2Staking-press.PNG" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2021/02/2Staking-press.PNG 600w, https://economy.p2p.org/content/images/size/w1000/2021/02/2Staking-press.PNG 1000w, https://economy.p2p.org/content/images/size/w1600/2021/02/2Staking-press.PNG 1600w, https://economy.p2p.org/content/images/2021/02/2Staking-press.PNG 1895w" sizes="(min-width: 720px) 720px"></figure><p>3. Look for a validator you wish to stake with or simply type its name in the search bar.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2021/02/3type-p2p.PNG" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2021/02/3type-p2p.PNG 600w, https://economy.p2p.org/content/images/size/w1000/2021/02/3type-p2p.PNG 1000w, https://economy.p2p.org/content/images/size/w1600/2021/02/3type-p2p.PNG 1600w, https://economy.p2p.org/content/images/2021/02/3type-p2p.PNG 1895w" sizes="(min-width: 720px) 720px"></figure><p>4. Press on <em>Stake With Validator.</em></p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2021/02/4press-stake-with-p2p.PNG" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2021/02/4press-stake-with-p2p.PNG 600w, https://economy.p2p.org/content/images/size/w1000/2021/02/4press-stake-with-p2p.PNG 1000w, https://economy.p2p.org/content/images/size/w1600/2021/02/4press-stake-with-p2p.PNG 1600w, https://economy.p2p.org/content/images/2021/02/4press-stake-with-p2p.PNG 1897w" sizes="(min-width: 720px) 720px"></figure><p>5. Specify the amount you wish to stake or click on the <em>Use Max</em> button in case you want to delegate the whole available balance. Scroll down and press <em>Submit Stake</em>.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2021/02/5use-max_scroll-down-and-submit.PNG" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2021/02/5use-max_scroll-down-and-submit.PNG 600w, https://economy.p2p.org/content/images/size/w1000/2021/02/5use-max_scroll-down-and-submit.PNG 1000w, https://economy.p2p.org/content/images/size/w1600/2021/02/5use-max_scroll-down-and-submit.PNG 1600w, https://economy.p2p.org/content/images/2021/02/5use-max_scroll-down-and-submit.PNG 1893w" sizes="(min-width: 720px) 720px"></figure><p>6. Confirm staking in the new window.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2021/02/6Confirm-staking.PNG" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2021/02/6Confirm-staking.PNG 600w, https://economy.p2p.org/content/images/size/w1000/2021/02/6Confirm-staking.PNG 1000w, https://economy.p2p.org/content/images/size/w1600/2021/02/6Confirm-staking.PNG 1600w, https://economy.p2p.org/content/images/2021/02/6Confirm-staking.PNG 1892w" sizes="(min-width: 720px) 720px"></figure><p>7. Approve the transaction on your hardware wallet if you use Ledger. You will be asked to authorize two transactions.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2021/02/7confirm-with-a-ledger.PNG" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2021/02/7confirm-with-a-ledger.PNG 600w, https://economy.p2p.org/content/images/size/w1000/2021/02/7confirm-with-a-ledger.PNG 1000w, https://economy.p2p.org/content/images/size/w1600/2021/02/7confirm-with-a-ledger.PNG 1600w, https://economy.p2p.org/content/images/2021/02/7confirm-with-a-ledger.PNG 1893w" sizes="(min-width: 720px) 720px"></figure><p>8. If everything is fine you will see a <em>Success</em> window. Your stake will start generating rewards from the next epoch (~12-14h). Those rewards are automatically added to the active stake. To <em>claim rewards or change a validator</em> you will need to <em>undelegate and wait for 36-52h</em> before withdrawing.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2021/02/8Success.PNG" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2021/02/8Success.PNG 600w, https://economy.p2p.org/content/images/size/w1000/2021/02/8Success.PNG 1000w, https://economy.p2p.org/content/images/size/w1600/2021/02/8Success.PNG 1600w, https://economy.p2p.org/content/images/2021/02/8Success.PNG 1896w" sizes="(min-width: 720px) 720px"></figure><hr><p><em>If you have any questions, feel free to ask in our </em><a href="https://t.me/P2Pstaking"><em>Telegram chat</em></a><em>, we are always open for communication.</em></p><hr><h2 id="about-p2p-validator">About P2P Validator</h2><p>P2P Validator is a world-leading staking provider with the best industry security practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities. <strong>At the time of publishing, more than one billion of USD value is staked with P2P Validator by over 6000 delegators across 15+ networks</strong>. Our infrastructure is under advanced monitoring with alerts and 24/7 technical support making it the best choice for institutional investors.</p><hr><p><em><strong>Web</strong></em>: <a href="https://p2p.org">p2p.org</a><br><em><strong>Stake NEAR with us</strong></em>: <a href="https://p2p.org/near">p2p.org/near</a><br><strong><em>Twitter</em></strong>: <a href="https://twitter.com/P2Pvalidator">@p2pvalidator</a><br><em><strong>Telegram</strong></em>: <a href="https://t.me/P2Pstaking">t.me/P2Pstaking</a></p>

Alex Bond

from p2p validator