Introduction to cryptocurrency and near protocol
In the rapidly developing world of digital names, cryptocurrencies are becoming increasingly important for financial transactions. One of the remarkable examples is the close protocol, the top platform of the blockchain, which offers a unique consensual mechanism that allows fast, safe and decentralized transactions. In this article, we dive into the world of the nearby protocol (loved ones) and its innovative consensus algorithm and examine how it differs from traditional blockchain.
What is cryptocurrency?
Cryptocurrencies are digital or virtual currencies that use security cryptography and are decentralized, which means that they are not controlled by any government or financial institution. They work on a Peer-to-Peer network where transactions are recorded on a public book called Blockchain. The best known cryptocurrency is Bitcoin (BTC), which was launched in 2009.
problem with traditional blockchain
Traditional blockchains have several limitations in terms of scalability and speed of transaction. They require significant computing sources, high energy consumption and lengthy confirmation times due to the decentralized nature of the network. This hinders their ability to process a large volume of transactions per second.
near the protocol: decentralized blockchain with a unique consensus mechanism
The nearby protocol (close) was designed to address these restrictions by introducing a new consensual mechanism called Evidence of Fitting (POS). This approach allows faster transaction processing times and higher scalability compared to traditional blockchains such as bitcoin.
How does a close protocol consensus work?
The close protocol uses a combination of rainfall and document mechanisms. Here is a simplified overview:
- Stakers receive a reward based on the number of nearby.
- Sharding : To maintain decentralization and improve scalability, near the protocol divides its blockchain into smaller “shards”. Each shard is assigned a specific task such as transaction verification or data storage.
- Rainfall : When two sides try to verify the same transaction using their inserted near tokens, they compete in the rainfall mechanism. The first to successfully proved that they are a real validator, wins and is rewarded with another near tokens.
The unique features of a close protocol
Several features make a close protocol an attractive solution for decentralized applications:
* Fast transaction processing
: With the mechanisms of overflow and evidence mechanism, up to 6,500 transactions per second can be processed up to 6,500 transactions, making it one of the fastest blockchain.
* scalability : Sharded architecture allows a significant improvement in scalability compared to traditional blockchains.
* High energy efficiency : Evidence of precipitation is a more energy -efficient consensus mechanism than proof of work (Pow) because it requires significantly less computational force.
Conclusion
A close protocol is an innovative approach to blockchain technology, which solves the limitations of traditional blockchain. The unique consensual mechanism used in the nearby protocol allows for fast, safe and decentralized transactions, making it an attractive solution for a wide range of use. When the blockchain landscape is constantly evolving, the innovative functions and scalability of the protocol near the protocol make it an exciting prospect for developers, investors and users.
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