NEAR Protocol is a first-tier blockchain that serves as a community-operated cloud computing platform that eliminates some of the limitations of competing blockchains, such as slow transaction speeds, low throughput, and poor interoperability. This provides an ideal environment for DApps and creates a developer- and user-friendly platform. For example, NEAR uses human-executable account names, unlike Ethereum’s common crypto wallet addresses. NEAR also introduces a unique scalable problem-solving solution and has its own thought mechanic called "Doomslug".The NEAR protocol is built by the NEAR Collective, a community that is updating the initial code loop ecosystem to release updates. Its remaining goal is to build a platform that is "secure enough to manage high-value assets like money or identity, and performant enough to be set up to be useful in everyday life."Flux, a protocol that allows developers to create markets based on assets, commodities, and real-world events, and Mintbase, an NFT minting platform, are examples of projects built on the NEAR protocol.