An Overview of PARAS

Paras is an NFT Marketplace initiative that aims to integrate traditional collectibles like digital cards to the blockchain ecosystem. The team behind the initiative thinks it's important to preserve the tangible forms of all art by digitizing them.

Through the NEAR protocol, Paras is able to provide its users with a reliable and safe payment system that is both fast and cheap to use. Paras is built to enable secondary market transactions for all projects hosted on its platform through automated linking.

The project leverages the NEAR Protocol, a quick, inexpensive, and carbon-neutral layer-one blockchain scaling solution, to provide an NFT Marketplace for participants in the NEAR Ecosystem.

The ability to buy and trade digital treasures created by artists. All Paras projects will be accessible through the marketplace. On the Paras platform, dApps based on the NEAR Protocol may trade NFTs with one another, with a particular emphasis on gaming integrations.

Community members may join the DAO and have a say in which projects get funded. Service Charges for Financial Transactions: To fulfill the economic model of the project, which prioritizes the creators' economy, 5% of all transactions, including those on the secondary market, will be allocated to this purpose.

PARAS and NEAR

NEAR's suitability for NFT markets like Paras is further supported by the technology's underlying simplicity. When it comes to technology, ideas, or simply being a part of a community of creators and supporters, NEAR is driven by a philosophy centered on empowering those who want to create the future. Paras is a fantastic illustration of how NEAR can facilitate the development of innovative projects that provide new channels for the dissemination of ideas, the formation of new networks, and the generation of new value in the digital realm. If you're interested in learning more about NEAR's goals, I encourage you to read Paras.

The NEAR Protocol is the most convenient, fastest, and least expensive blockchain for creating and deploying decentralized applications and protocols.

The primary goal of NEAR is native usability. NEAR's contract-based account model and NEAR Drops are two features that greatly improve the platform's usability for both programmers and end users. For its part, NEAR has prioritized improving application performance. Nightshade is a dynamic sharding technique built on top of the Doomslug proof-of-stake BFT consensus mechanism. This allows network throughput to scale as demand grows. It targets 1-second blocks so developers can build performant applications.

Purpose

• Do a deep dive into a project on NEAR and analyze its impact, defining metrics for “impact” and displaying them with data.

• What contributions is your chosen project making to NEAR? You don’t need to choose one of the biggest or most impactful projects - and your research can include qualitative assessment as well.

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• Provide a brief overview of the target project ; focus your power on answering the question:“ What impact is this project having on NEAR? How much is it contributing, and how do you know?”Grand prize eligibility will also include brief recommendations on how this project could maximize its impact, and how you would track the results of your proposed interventions.

Method