Inite had been searching for the best solution on which to build its INIT and IDEA tokens. After extensive research, Inite chose NEAR because the team was highly inspired by the blockchain’s seamless, future-oriented technologies.
NEAR is a Proof-of-Stake blockchain that uses sharding technology to spread the computational load for better scalability of the network. It is essentially a community-run cloud computing platform that enables transactions and storage through its native token NEAR.
It aims to compete with Ethereum by providing a platform for decentralized apps (dApp) and smart contracts in a much more user- and developer-friendly environment. Instead of cryptographic wallet addresses, it has human-readable account names, and it doesn’t require users to have wallets to interact with dApps and smart contracts.