Market Cap
$4,146,543,927.65
Volume (24 H)
$337,934,773.22
NEAR with marketcap of BTC
$604.7380
NEAR Protocol / U.S. Dollar Tweet Timeline of ruffiian

NEAR Sentiment Score of ruffiian

Tweets

About NEAR Protocol

What Is NEAR Protocol (NEAR)?

NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. This provides the ideal environment for DApps and creates a developer and user-friendly platform. For instance, NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism called “Doomslug.”

NEAR Protocol is being built by the NEAR Collective, its community that is updating the initial code and releasing updates to the ecosystem. Its declared goal is to build a platform that is “secure enough to manage high value assets like money or identity and performant enough to make them useful for everyday people.”

Flux, a protocol that allows developers to create markets based on assets, commodities, real-world events, and Mintbase, an NFT minting platform are examples of projects being built on NEAR Protocol.

Who Are the Founders of NEAR Protocol (NEAR)?

NEAR Protocol was founded by Erik Trautman, an entrepreneur with experience on Wall Street and founder of Viking Education. His co-founders were Illia Polosukhin, who has more than ten years of industry experience, including three years at Google, and Alexander Skidanov, a computer scientist that worked at Microsoft and went on to join memSQL, where he became the director of engineering. NEAR Protocol has an extensive team of experienced developers that includes several International Collegiate Programming Contest (ICPC) gold medalists and winners. The team claims to have people with experience of building some of the only real-world sharded systems at scale, a solution the protocol is pursuing to improve blockchain scalability.

What Makes NEAR Protocol (NEAR) Unique?

NEAR uses its Nightshade technology to improve transaction throughput massively. Nightshade is a variation of sharding, in which individual sets of validators process transactions in parallel across multiple sharded chains, improving the overall capacity of the blockchain. In contrast to “regular” sharding, shards in Nightshade produce a fraction of the next block, called “chunks.” In doing so, NEAR Protocol is able to achieve up to 100,000 transactions per second and achieve near-instant transaction finality thanks to a one-second block cadence while simultaneously keeping transaction fees at virtually zero.

NEAR Protocol also improves upon the convoluted onboarding process of other blockchains by having human-readable addresses and building decentralized applications with similar registration flow to what users have already experienced. Moreover, it provides developers with modular components, helping them start projects like token contracts or NFTs more quickly.

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Get the latest crypto news and latest trading insights with the CoinMarketCap blog.

How Many NEAR Protocol (NEAR) Coins Are There in Circulation?

The total supply of NEAR is 1 billion tokens, according to the following token distribution:

17.2% - Community Grants 11.4% - Operation Grants 10% - Foundation Endowment 11.7% - Early Ecosystem 14% - Core Contributors 17.6% - Backers 6.1% - Small Backers 12% - Community Sale

NEAR Protocol launched its mainnet on April 22, 2020 with 1 billion NEAR tokens created at genesis. 5% of additional supply is issued each year to support the network as epoch rewards, of which 90% goes to validators (4.5% total) and 10% to the protocol treasury (0.5% total). 30% of transaction fees are paid out as rebates to contracts that interact with a transaction, while the remaining 70% are burned. The NEAR token is used for:

Fees for processing transactions and storing data. Running validator nodes on the network via staking NEAR tokens. Used for governance votes to determine how network resources are allocated. How Is the NEAR Protocol Network Secured?

NEAR uses a variation of the proof-of-stake consensus mechanism called Doomslug. Doomslug is based on two rounds of consensus, where a block is considered finalized as soon as it has received the first communication round. This allows for near-instant finality by having validators take turns producing blocks rather than competing directly based on their stake.

The NEAR Foundation is a Swiss-based non-profit dedicated to protocol maintenance, ecosystem funding, and guiding the protocol's governance. The protocol has also built a bridge to Ethereum, allowing users to transfer ERC-20 tokens from the Ethereum blockchain to NEAR.

Where Can You Buy NEAR Protocol (NEAR)?

NEAR is available on Binance, Huobi Global, Mandala Exchange, FTX and OKEx.

Cryptocurrency newbie? You can read more about how to enter the market and how to buy NEAR or any other token in the CoinMarketCap education portal — Alexandria.

Latest News On NEAR Protocol

NEAR Protocol (NEAR) crypto soars by over 8%. Here’s why - Kalkine Media

NEAR Protocol (NEAR) crypto soars by over 8%. Here’s why Kalkine MediaNEAR Crypto Token Pumps After Coinbase Adds It to Listing Roadmap CoinDeskCoinbase to add NEAR protocol to its listings The PaypersNEAR Token Jumps 12% as Coinbase Adds Support for Near Protocol CoinspeakerEthereum (ETH) Competitor Soars As Coinbase Adds Red-Hot Altcoin to Listing Roadmap The Daily HodlView Full Coverage on Google News

Thu, 11 Aug 2022 05:54:00 GMT

Upgrade Your Crypto Wallet For Larger Profits: Supontis Token, Solana, and Near Protocol | Bitcoinist.com - Bitcoinist

Upgrade Your Crypto Wallet For Larger Profits: Supontis Token, Solana, and Near Protocol | Bitcoinist.com Bitcoinist

Sun, 14 Aug 2022 17:39:39 GMT

Decentraland, Near Protocol, and Celphish Finance – Three Cryptocurrency Projects for the Bear Market - Analytics Insight

Decentraland, Near Protocol, and Celphish Finance – Three Cryptocurrency Projects for the Bear Market Analytics Insight

Sat, 13 Aug 2022 12:37:20 GMT

NEAR Protocol (NEAR) Rises 1.15% Saturday: What's Next for This Neutral Rated Crypto? - InvestorsObserver

NEAR Protocol (NEAR) Rises 1.15% Saturday: What's Next for This Neutral Rated Crypto? InvestorsObserver

Sat, 13 Aug 2022 19:44:37 GMT

Bitcoin (23k), Ethereum (1.7k), Near Protocol price analyses - The Cryptonomist

Bitcoin (23k), Ethereum (1.7k), Near Protocol price analyses The Cryptonomist

Tue, 09 Aug 2022 08:15:50 GMT

With Gnox (GNOX), Near Protocol (NEAR) And Algorand (ALGO) You Are Set For The Next Bull Wave - The Coin Republic

With Gnox (GNOX), Near Protocol (NEAR) And Algorand (ALGO) You Are Set For The Next Bull Wave The Coin Republic

Sat, 13 Aug 2022 09:31:22 GMT

Go Through Crypto Winter Unharmed With Privatixy Protocol (PXP), Cardano (ADA), and NEAR Protocol (NEAR) - Analytics Insight

Go Through Crypto Winter Unharmed With Privatixy Protocol (PXP), Cardano (ADA), and NEAR Protocol (NEAR) Analytics Insight

Wed, 10 Aug 2022 10:54:02 GMT

Biggest Profits Likely From Uniglo (GLO), Near Protocol (NEAR) And Fantom (FTM) - NewsBTC

Biggest Profits Likely From Uniglo (GLO), Near Protocol (NEAR) And Fantom (FTM) NewsBTC

Fri, 12 Aug 2022 10:14:00 GMT

Ethereum, Binance Coin and Two Additional Altcoins Have Limited Upside, Warns Top Crypto Trader - The Daily Hodl

Ethereum, Binance Coin and Two Additional Altcoins Have Limited Upside, Warns Top Crypto Trader The Daily Hodl

Mon, 15 Aug 2022 19:00:52 GMT

Can Vertochain Surpass Top-Performing Cryptos Like Shiba Inu and Synthetix? - The Coin Republic

Can Vertochain Surpass Top-Performing Cryptos Like Shiba Inu and Synthetix? The Coin Republic

Sat, 13 Aug 2022 09:22:14 GMT
4.5%
Average Weekly ROI
31.5%
Average Monthly ROI