NEAR Protocol is a decentralized application platform designed to make apps usable on the web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to offer scalability and stable fees.
NEAR is the native utility token that is used for:
Fees for processing transactions and storing data.
Running validator nodes on the network via staking NEAR tokens.
Used for governance votes to determine how network resources are allocated.
NEAR tools include:
NEAR SDKs which includes standard data structures and testing tools for Rust and AssemblyScript.
Gitpod for NEAR to create a zero time onboarding experience for developers.
NEAR Wallet that lets application developers create streamlined user experiences.
NEAR Explorer to aid with both debugging of contracts and the understanding of network performance.
NEAR Command Line Tools to allow developers to deploy applications from local environments.
Founded in 2021, MetaWeb Ventures has alredy invested in more than 30 startups, including Niche, Connect3, as well as BlockSec. But the main focus of MetaWeb Ventures is on NEAR Protocol. In 2023, MetaWeb Ventures will run a Second Fund, or “Fund II.”
