NEAR NFT Marketplace Development: A Detailed Guide

NEAR NFT Marketplace Development: A Detailed Guide 

The world is drifting towards blockchain and its applications, such as NFT. It is nearly impossible for a single network to stand against the mass adoption of the technology and its applications. Thus, many blockchain networks with high performance are emerging at full speed. This is where we see the evolution of the NEAR protocol. In its early days only, the protocol caught the attention of big companies and professionals. The protocol has become significant in developing NFT, NFT marketplaces, and decentralized applications. 

In this article, we will primarily focus on the protocol and what benefits it provides for developing the NEAR NFT marketplace. 

What is NEAR blockchain? 

NEAR protocol is a layer-1 blockchain crafted to develop highly scalable decentralized applications. Based on sharding and Nightstand mechanisms, NEAR has the efficiency of processing approximately 100,000 transactions per second which is quite a huge number. 

This smart-contract-capable blockchain protocol is a combination of features of distributed database and server-less database computing platforms. Additionally, it helps build decentralized applications that have feature-packed backends. Its community-operated cloud infrastructure ensures the seamless deploying and running of decentralized applications. Also, it utilizes smart contracts functioning to manage high-stake data like NFTs, identities, and funds. 

The decentralized nature and no control of a single authority of the network have resulted in its wide adoption for creating NEAR NFTs and NFT marketplaces. 

Benefits of NEAR NFT marketplace development

When compared to other blockchain protocols predominantly used as a mainstream technology in NFT marketplace development, NEAR is proving to be a better network. NEAR is a blockchain protocol that charges less transaction fees and provides high throughput. 

The modern framework allows the NEAR protocol to handle millions of transactions without causing network congestion. Apart from this, the PoS mechanism of the network helps develop a highly scalable and secure NFT marketplace for minting and trading NEAR NFTs. 

Let us learn some more benefits of the protocol that makes it the best for NFT marketplace development. 

Sustainable

NEAR makes sure the network remains sustainable and carbon neutral. This is achieved through an efficient PoS network that enables users to process blockchain-based transactions seamlessly without causing delays. 

Cost-effective

The best part of utilizing the NEAR blockchain protocol is its ability to process thousands of transactions quickly without charging much fees. The transaction fees for NEAR are less compared to other popular networks. Users have to pay only 30% of the transaction fees to participate in the network's growth. 

Secure and Pragmatic

Solana's robust network of active validators helps maintain credibility and high security throughout its ecosystem. Furthermore, the platform supports community-based coding languages such as Rust and AssemblyScript to write smart contracts. 

Basic development components of the NEAR NFT marketplace 

The NEAR blockchain is designed to be used independently and permissionless but with a set of tools and rules for implementation. The NEAR development suite is composed of the following components.

NEAR SDKs

In NEAR protocol, smart contracts are written using JavaScipt, Rust and AssemblyScript coding languages. NEAR's smart contract languages come with a complete SDK, standard data structures, and testing tools.

NEAR Gitpod 

Using Gitpod technology, NEAR promotes zero-time onboarding experiences for developers. The technology has an online Integrated development environment (IDE) that enables developers to write, test, and deploy NEAR smart contracts. 

NEAR wallet 

NEAR wallet has built-in functionalities and is used to store tokens. The wallet makes it easy for the token holders to participate in the staking and governance processes on the NEAR platform. 

NEAR explorer 

In order to understand the smooth functioning of the NEAR network, the NEAR explorer is used. It further allows debugging of the contracts and provides real-time network data in an easy-to-understand format. 

NEAR command-line tools 

The applications from their local environments are created, tested and deployed using NEAR's command-line tools. 

Conclusion

Out of all the existing blockchain networks, NEAR is a unique one. Some key benefits of using the NEAR protocol include high scalability, carbon neutrality, interoperability and the use of human-readable account names instead of cryptographic-coded wallet addresses. The network makes it easy for users to access wallets and decentralized applications. So it's convenient to say that the future of the NEAR NFT, NEAR NFT marketplace and all the other decentralized applications built over the platform has a bright future. This is because of their compatibility with meeting all the needs of modern businesses and startups. 

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