NEAR - Near Protocol

sharding is a scaling solution to increase network’s transaction per second (TPS)
nodes of validator are divided into groups, each group processes one part of data
groups can then process transactions simultaneously to produce chunks
a single validator produces block by assembling all chunks created
dynamic re-sharding adjusts # of shards based on user demand, technically limitlessly

bring ERC-20 tokens and assets from Ethereum chain to NEAR network
- locks tokens to be sent in a Ethereum smart contract, tokens are taken out of circulation
- give proof to NEAR network, create corresponding amount of tokens in NEAR
- NEAR verifies the proof, and then creates 20 new DAI for me to use on NEAR.

layer 2 solution on the NEAR Protocol
use ETH as gas fees like ETH layer 2 design
Aurora Engine - EVM that is compatible to Ethereum DApps deployment
Aurora Bridge - permissionless transfer of tokens & data between Ethereum & Aurora

NEAR-native stablecoin soft-pegged to the US dollar
$NEAR is used to absorb the volatility of USN
an arbitrage smart contract allows the exchange of 1 USN to $1 worth of $NEAR
- when USN=$0.99, people buy 1 USN and sell it for $1 worth of NEAR, making $0.01 profit
- when USN=$1.01, people exchange $1 worth of NEAR for 1 USN, making $0.01 profit
back USN with a reserve fund that is greater than 100% of all USN (i.e. double-collateralized)
in extreme cases, reserve fund in Decentral Bank can repurchase all the USN to re-peg USN

Last updated 2 years ago