NEAR Voters Approve Plan to Cut Annual Issuance to 1.6%
NEAR’s HSP-029 passed its tokenholder vote, backing a 24-month issuance cut from 2.5% to 1.6%. Security Council review and validator adoption remain.
Proof-of-stake
Proof-of-stake (PoS) is a blockchain consensus mechanism where validators are chosen to create new blocks and confirm transactions based on the amount of cryptocurrency they hold and are willing to “stake” as collateral. Unlike proof-of-work, it does not require energy-intensive computations, making it more environmentally efficient. Validators earn rewards for participating honestly and can lose a portion of their stake for malicious behavior. PoS supports network security, transaction validation, and decentralized governance. It reduces energy consumption, encourages long-term token holding, and maintains blockchain integrity.
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