Near Protocol is a fast, layer 1 blockchain that provides a fast, secure, inexpensive and scalable network. It is also very easy to use, there are already over 900 decentralised applications running on Near Protocol 1.

NEAR Protocol uses its network of nodes to create a decentralised cloud infrastructure that allows the deployment of decentralised applications (dApps) on top of it. Alongside this infrastructure NEAR ensures the deployment of two blockchain layers: its NEAR Layer1 and Aurora Layer2.

Thanks to this mode of operation NEAR Protocol is able to offer not only high scalability, but also cross-chain interoperability with other networks such as Ethereum. In this way, users can move their tokens from these blockchains to the NEAR Protocol network, thus obtaining a higher processing capacity and lower transaction fees 2.

NEAR is the main and native token of Near Protocol. It is a token based on ERC-20 and serves mainly for the payment of fees within the blockchain and for the payment of rewards for users who improve the security of the network by staking.

One of the most important section of a blockchain that is backed by its own token are the whales. In crypto the term whale refers to individuals or entities that hold large amounts of cryptocurrency. Whales own enough cryptocurrency to influence currency markets. In this analysis, only individuals have been considered so, entities have been excluded.

What is Near Protocol and why whales are important