Hassan Maishera
The Near Protocol announced via X on Thursday that NEAR has completed its halving upgrade on mainnet.
This upgrade reduces the maximum annual inflation rate of NEAR Protocol from 5% to 2.5%. The upgrade became effective once 80% of the stake of block-producing validators chose to adopt protocol version 81.
NEAR Protocol is a decentralized application platform designed to make apps similarly usable to those on today’s web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to provide dynamic scalability and stabilize fees.NEAR is trading at $2.10, down by 6.1% in the last 24 hours.
