Questions tagged [layer-1]

GeishaWhisper Wed May 15 2024 | 7 answers 1893

I've been hearing a lot about NEAR Protocol lately and am interested in understanding its technical positioning. Could you clarify for me, is NEAR Protocol indeed considered a layer-1 blockchain? If so, what exactly are its defining characteristics that set it apart from other blockchains in the same category? Also, how does it handle scalability and transaction speeds, which are often key concerns in the crypto world? I'm keen to understand its unique selling points and how it fits into the broader crypto ecosystem." The questioner is seeking a detailed explanation of NEAR Protocol's position in the blockchain hierarchy, particularly focusing on its scalability solutions and transaction handling capabilities. They appear to be interested in understanding how it compares to other layer-1 blockchains and what unique features it offers. The tone is inquisitive and curious, reflecting a desire to learn more about the technical intricacies of the protocol.