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What Is NEAR Protocol?

What Is NEAR Protocol?
The NEAR Protocol is an open-source platform used for building decentralized applications (dApps). It is an Ethereum competitor as it has a single environment with similar architecture typical for all dApps.
The NEAR protocol has its native tokens that can be used to pay fees for processing transactions and storing data. The protocol is a developer-friendly Proof-of-Stake blockchain that focuses on reducing costs for developers and end-users and increasing app scalability.

How Does The NEAR Protocol Consensus Work?

Nightshade Nightshade
Sharding is a structure that helps to cut transaction costs. Nightshade is the protocol that tackles sharding issues such as security, data availability, and state legitimacy.
Rainbow Bridge Rainbow Bridge
Rainbow Bridge is an application that facilitates back-and-forth Ethereum token transfer between NEAR and Ethereum.
Aurora Aurora
Aurora is a scaling solution that allows developers to launch Ethereum dApps on NEAR and connect their smart contracts and digital assets.

What Are The Prominent Use Cases of NEAR Protocol?

Decentralized Finance
What Are The Prominent Use Cases of NEAR Protocol?
NEAR makes entry to DeFi easier as the Rainbow Bridge launch has made DeFi available globally. All Ethereum assets can be used on dApps powered by NEAR.
Non-Fungible Tokens
What Are The Prominent Use Cases of NEAR Protocol?
NFTs store immutable records that prove ownership over digital assets. The NEAR protocol is the generation 3 blockchain that is notably faster than previous ones.
Decentralized Autonomous Organization
What Are The Prominent Use Cases of NEAR Protocol?
The NEAR protocol utilizes DAO to get rid of paperwork and allow the token holders to use advanced accounts that enable storing digital assets on the platform.

Top Near Blockchain Development & Consulting Services

Near Development
Hire our blockchain developers to build customizable digital solutions, platforms, wallets, marketplaces, etc. on the NEAR protocol with outstanding features and infinite scalability to meet your business requirements.
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Near Consulting
Looking for ways to benefit from NEAR blockchain solutions but have no idea of how to implement them? Our consultants will thoroughly analyze your business requirements and offer the most suitable options.
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Scalable dApps
We develop scalable and secure dApps using the NEAR protocol to satisfy your specific business needs. Our experts analyze your project to increase the utility of your dApp.
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NFT Marketplaces
Our blockchain developers create NFT marketplaces with remarkable features and NFT trading experience. Thanks to the protocol being swift and low-cost, we offer the best solutions that suit your operating environment.
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Smart Contracts
We build smart contracts to supervise your business processes on the NEAR protocol. We provide smart contract development services that cover smart contract architecture, design, audit, and implementation.
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Exchange Bridges
We help businesses to utilize interoperability by launching cross-chain bridges on the NEAR protocol. It enables coherent token, data, and resource exchange across multiple autonomous blockchains.
Node and Wallets
We build a node tailored to your specific needs and help you to run it on the NEAR protocol. In addition to this, we develop crypto wallets and integrate them into your dApps or decentralized exchanges.
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DAO Integration
We provide DAO creation and integration services so that your projects are approved by DAO in the NEAR protocol. With DAO, you can build trust among the users as they can offer changes to the protocol, etc.
Maintenance & Upgrade
We provide coherent support and maintenance services to make certain your dApps stay up-to-date and run without delays. We assist you in upgrading your applications to ensure effective lifespan performance.

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Why Build On NEAR?

Sustainable
The protocol offers an effective PoS network that enables the network’s sustainability and allows more efficient usage of blockchain-based solutions.
Cost-effective
The network puts up to 1000x lower transactions on users compared to other third-generation blockchains, while NEAR provides about 30% of the fees to the ecosystem’s growth.
Secure
The protocol supports integrity and provides high-level security across the ecosystem thanks to the burgeoning network of active validators.
Friendly
NEAR uses a standard DNS pattern to generate a human-readable account address. Hence, the platform is user-friendly for everyone including people new to blockchain.
Harmonious
Rainbow Bridge and EVM components help NEAR to enable interoperability among autonomous blockchains and increase the usability of the operating environment.
Pragmatic
To build NEAR smart contracts and make the entire process simpler, developers use basic community-supported languages like Assembly and Rust.

Industries in focus

healthcare
Healthcare
Supply chain transparency, data accessibility, accountability and security are still a daunting challenge for businesses in a healthcare system, so blockchain comes on the scene to keep the industry upgraded. With blockchain businesses are able to validate the authenticity of drugs and their expiry dates, patients and healthcare professionals have access to the upgraded medical records 24/7, the integration of smart contracts doesn’t call for manual oversight any more saving time and money, and so much more from what you can benefit manifold.
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Fintech and Banking
FinTech & Banking
Banks across the globe have realized that blockchain is not only about cryptocurrency and started actively harnessing its true potential to transform the way the industry is working. Blockchain facilitates instantaneous cross-border transactions due to its completely internet-based nature and middleman-free way of functioning, paperwork that is susceptible to vulnerabilities is converted into digital records increasing its security and efficiency. The decentralized type of blockchain successfully withstands cyberattacks eradicating any embezzlement. This feature-set solution will help you stay current with the rapidly developing world.
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Logistics & Supply Chain & Warehousing
Logistics & Supply Chain
Blockchain helps in tracking the products at all stages of its supply chain from manufacturing to delivery. Client’s trustability of a product increases due to reduction of counterfeit products and sensitive data protection. Blockchain technology simplifies management data regarding transportation, storing, packaging and distribution of products. Moreover, the supply chain industry can monitor the inventory at the warehouse and get information on what is on demand. All this will make your user base wider and help to obtain consumer loyalty.
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Gaming
Gaming
Blockchain technology eliminates the promotion of cloned applications, only real human gamers can access the game thanks to the authentication process. The gaming community can reap a benefit from NFT tokens represented by premium game characters, weapons and so on. Due to the rising popularity of Metaverse, ordinary games are transforming into real games where people interact with each other by means of AR and VR. There is also a way for gamers to earn real money by developing play-to-earn games that opens the door for a sophisticated user experience.
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Retail & eCommerce
Retail & eCommerce
Blockchain promotes fast, secure and middleman-free transactions utilizing Peer-to-Peer features. Blockchain-backed supply chain enables full traceability of goods from production to delivery in real time and proves the authenticity of the products. Businesses keep up to date with stocks avoiding shortages of goods that enhance customer satisfaction. Large amount of information about users, goods, deliveries and sellers is stored in an organized manner making data management to function seamlessly. Each transaction undergoes verification preventing any fraudulent behavior.
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Oil & Gas
Oil & Gas
Companies in chemicals and petroleum cannot be isolated from the external world, and consequently they rely on supply chains to bring their products to live environments. With blockchain there is no need to spend time on the reconciliation process by making the same data available to each participant of the supply chain, it could be stored in a decentralized manner giving access to the updated information to all the authorized users. Additionally, businesses can have money remittances in a fraction of a second and the lack of intermediaries results in cost saving.
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Sharing Economy
Sharing economy
The implementation of blockchain technology in the sharing economy opens the door for automatization and for giving the power to the users through decentralization. With the smart contacts deals are made without middlemen and consequently additional fees. Due to the immutable nature of blockchain the problems of reliability and transparency are resolved, because the platform’s owner cannot just delete reviews. On top of that, even unbanked people are capable of using the services being provided by the sharing economy because cryptocurrency is the means of payment.
Construction and Real Estate
Construction and Real Estate
Blockchain paves the way for a more secure and simplified procedure of buying and selling real estate. Buyers are able to trace the history of the property they are willing to buy whereas sellers can grant transparency of the whole sales process. The fact that transactions are recorded on a decentralized ledger and are not prone to hacking attacks increases trust between the buyer and the seller. Also, the records of ownership property that are kept in the decentralized network are safer than traditional ones.
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Insurance
Insurance
The implementation of blockchain can transfigure the insurance industry into an automated process through the use of smart contracts. Insurance claims processing becomes more accurate and quick, and thus customers get instant payouts. The claim management process doesn’t require any third parties that helps to reduce cost of each manipulation. By the way, clients are usually reluctant to provide personal information, but as blockchain is highly-secured, people should not worry about their data breach. The immutable nature of blockchain doesn’t allow any alterations in the network avoiding malicious activities.
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Near Blockchain Development Process

#1
Business Analysis
Before we start working, we need to analyze the business of each customer. Hence, we understand the purposes of the future product, identify business logic, and create the project’s roadmap.
#2
Architecture Design
At this point, we need to implement the project’s logic and develop its high-level infrastructure. In other words, we create a blueprint for the product.
#3
Proof of Concept Development
Here, we evaluate the feasibility of the future project. We need to make sure the entire product will work as intended and meet your specific business requirements.
#4
Visual & Technical Design
At this stage, we start to design and prototype your future product. We create data flow diagrams and the document defining the smart contract, design technical architecture and UI/UX interfaces, and create sprints and delivery milestones.
#5
Development
We start developing the product just after you approve the blueprint. Our experienced blockchain developers build an optimal, secure, and bug-free solution. Then you estimate the result, give comments, and approve the final version.
#6
QA
To ensure that your product is ready to hit the market, we thoroughly test it to find possible vulnerabilities. We use rigorous QA testing methods to provide high-quality solutions free from bugs and weaknesses.
#7
Deployment
This stage is accompanied by provisioning, main chain deployment, and cloud or app store deployment if the solution is a hybrid one.
#8
Upgrades
If you need to upgrade your product or platform, we start from the beginning. We gather your requirements, create the technical design, develop, test, and deploy the upgraded solution to the live blockchain network.

Why Choose Us For NEAR Blockchain Development

Top Results Top Results
Our NEAR blockchain developers have splendid coding skills and high motivation to deliver maximum results. You can rely on us as we do our best to reach full customer satisfaction.
Uncompromised Service Quality Uncompromised Service Quality
At every stage of our collaboration, you will get high-class service. We develop cutting-edge solutions and are always there to provide further support.
Cross Industry Knowledge Cross Industry Knowledge
We have experience in developing software solutions for diverse industries like oil and gas, healthcare, insurance, logistics, real estate, and beyond.
Competitive Pricing Structure Competitive Pricing Structure
The final price of the product development is calculated individually for every client. We offer our customers to hire NEAR developers at hourly, monthly, or fixed costs.
Excellent Communication Skills Excellent Communication Skills
​​We work hard to deliver the best solutions for your business, so your feedback is crucial for us. Our team will give you regular reports and help to solve any issues.
Always On The Move Always On The Move
We never stop learning and improving our skills to deliver innovative solutions to our customers. Just like your business does.

FAQ

What is the NEAR protocol?
The NEAR blockchain protocol is an open-source platform used for building decentralized applications (dApps). The NEAR protocol is a developer-friendly Proof-of-Stake blockchain that helps to reduce costs for both developers and end-users and increase the solution’s scalability.
What are the benefits of the NEAR protocol?
The main advantages of the NEAR protocol are security, scalability, sustainability, cost-effectiveness, and user-friendliness.
Why should I choose the NEAR protocol for the next project?
NEAR focuses on overcoming barriers to Web 3.0 adoption. The protocol enables swift transactions with reduced transaction fees.
Why should I choose ND Labs for my NEAR project?
At ND Labs, we assist businesses and startups in building and implementing blockchain-based solutions. We help our clients to make use of the NEAR ecosystem and benefit from its advantages.
What NEAR protocol development services do you provide?
We develop decentralized applications, NFT marketplaces, smart contracts, exchange bridges, nodes, and wallets. We also offer further maintenance and upgrade services, DAO integration, and NEAR consulting.
How much does it cost to develop a solution using NEAR?
The cost of product development is calculated individually as it depends on multiple factors. The most influential ones are the complexity of the solution including its features and functionality, business analysis, and support services.

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