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Near Protocol was launched in April 2020 and is a decentralised application platform aiming to provide solutions for scaling in a multi-chain environment. The network, whose blockchain is climate-neutral, has the objective to eliminate the barriers to Web 3 adoption, running on a proof-of-stake (PoS) consensus mechanism called Nightshade. Its native utility token is NEAR that is used for running validator nodes on the network via staking, for governance votes on the allocation of network resources and for transaction and storage fees.
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