Networks / NEAR / NEAR
NEAR
A blockchain with human-readable accounts, per-key permissions and gas paid in NEAR, extended by chain-abstraction tools.
THE OVERVIEW
What NEAR does
NEAR natively supports named accounts such as alice.near alongside implicit accounts derived from a private key. An account can hold multiple keys, each with its own permissions, so a compromised key can be swapped out. Accounts can optionally hold an application, that is, a smart contract. [1]
Gas is bought upfront in NEAR tokens. Its price is recalculated each block from network demand, with a floor, and rises or falls by one percent depending on whether the previous block was more than half full. Attaching extra gas does not speed up a transaction, because actions cost a fixed amount and any surplus is refunded. Thirty percent of the gas burned while executing a contract goes to that contract’s account. [2]
Chain abstraction extends NEAR accounts beyond the chain itself. Chain Signatures let NEAR accounts and smart contracts sign transactions for other chains including Bitcoin, Ethereum and Solana, and Intents let users express a desired outcome that a network of solvers competes to fulfil, so users operate from a single NEAR account. [3]
IN PRACTICE
What people use it for
Create a readable account
Register a named account and manage its access keys with distinct permissions. [1]
Fund contracts through usage
Contract accounts receive a share of the gas their code burns. [2]
Act on other chains
Use Chain Signatures or Intents to transact across chains from one NEAR account. [3]
UNDERSTAND THE TECHNOLOGY
Key concepts
MARKET CONTEXT
NEAR market
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Official resources & sources
Dextape explanations based on the primary documentation below.