BlockBill : The Blockchain-Powered Paperless Billing Solution
Traditional paper-intensive procedures take a long time , are subject to human errors , and frequently call for third-party mediation . Transactions can be finished more quickly and effectively by automating these operations with blockchain . The blockchain may hold documentation and marketing information together , eliminating the necessity for paper exchange . Clearing and settlement can happen considerably more quickly because there is no need to reconcile various ledgers .
NEAR [ 19 ] is a user-friendly and carbon-neutral blockchain built to be performant , secure , and infinitely scalable . In technical terms , NEAR is a layer one , sharded , Proof-of-Stake blockchain built with usability in mind .
It doesn ’ t matter if certain participants in a decentralized protocol like NEAR are not carbon neutral ; what matters is that the network as a whole is carbon neutral . The use phase , or the online activity around the start of a transaction , only makes up a tiny portion of the footprint . With future expansion , NEAR ’ s footprint is anticipated to grow . Still , both validator activity and use phase are anticipated to remain well below the massive climate footprint of Proof-of-Work networks . This result confirms that Proof-of-Stake offers a more environmentally friendly alternative to proof-of-work .
NEAR has a lot of benefits , especially from the perspective of developers and for the widespread adoption of mainstream applications based on blockchain , which includes , but are not limited to :
1 . NEAR ' s consensus mechanism " Nightshade " is energy efficient [ 19 ], which means it consumes less energy than other blockchain platforms . This reduction in energy consumption helps lower the carbon footprint of the network .
2 . Transactions are incredibly fast , about 1 second per transaction and with reasonably economical transaction fees under 1 Cent in fees , and the system is certified carbon neutral . NEAR consumes in a year the same energy bitcoin consumes in three minutes [ 24 ].
3 . NEAR operates as a decentralized network with a governance model that includes community participation . This community-driven approach ensures that the network aligns with the values and goals of its users , promoting sustainable practices and reducing waste . Furthermore , there is an opportunity for passive income by hosting a NEAR node on the computer infrastructure .
4 . It is quite simple for beginners as users , given that it uses human-readable account names , operates through a web-based wallet without the need to install programs or browser extensions and has an easy-to-use yet sophisticated system of access keys to manage account permissions .
Journal of Innovation 99