NEAR Protocol (NEAR)

NEAR Protocol (NEAR)

Rank #22

$6.03

2.06%

0.0002 BTC

NEAR
USD

MARKET CAP

$4.168 B

ALL TIME HIGH

$20.42

VOLUME 24H

$518.94 M

CIRC. SUPPLY

691.277 M

VOL/MCAP

12.00%

TOTAL SUPPLY

1 B

DILUTED MCAP

6.038 B

MAX SUPPLY

1 B

1H USD

-1.21%

24H USD

2.06%

7D USD

5.81%

30D USD

-64.50%

60D USD

-43.69%

90D USD

-41.49%

Tag:

platformstakingcoinbase-ventures-portfolioarrington-xrp-capital-portfolioView all

NEAR Protocol Price Chart

24h Change

2.06 %

NEAR Protocol - NEAR Profiles

NEAR is a simple, scalable, and secure blockchain platform built to give developers and users the best experience.

What is Near protocol ($NEAR)?

Near Protocol, like Ethereum, is a smart contract-enabled blockchain that was released in 2020 to encourage developers to create and deploy more decentralized apps (dApps). NEAR blockchain to leverage the full advantage of NEAR’s ecosystem, including its high speed, scalability, sharding solutions, interoperability, and low fees. This blockchain, which is distributed across hundreds of machines worldwide, is structured in such a way that it is permissionless, performant, and safe enough to serve as a foundation for the future web’s decentralized data layer.

NEAR is a Proof-of-Stake Blockchain that uses sharding technology to achieve scalability. Sharding is the process of dividing the main blockchain into sub-chains or shards, much like a tree’s branches. Each branch or shard is capable of processing independently and has its own set of validators (or nodes). This way, each shard bears just a part of the entire weight. This construction unclogs the main chain and distributes the load horizontally, resulting in increased operating speeds.

The Near Protocol is not controlled by a single entity but is instead run by the computers that comprise its network. This enables developers to build apps and publish them on the blockchain without first developing the underlying infrastructure. NEAR is the Near blockchain’s native token.

Outstanding Features

What is the project trying to achieve?

The NEAR platform’s design and development are influenced by a handful of fundamental ideas. These ideas capture the underlying problems in today’s centralized and decentralized systems.

Usability: End users should find it smooth to utilize the platform’s applications, and developers should find it effortless to create them. Wherever feasible, the underlying technology should blend into the background or be totally invisible to end-users. Developers should employ familiar languages and patterns wherever possible during the development process. Simple apps should be easy and straightforward to develop, but more powerful applications should remain secure.

Scalability: The platform should expand indefinitely as long as economic reason exists to serve enterprise-grade, globally utilized applications.

Simplicity: Each component of the system should be designed as simply as feasible in order to accomplish its primary function. Prioritize simplicity, practicality, and readability over theoretical perfection.

Sustainable Decentralization: The platform should promote considerable decentralization both in the short and long term to ensure the platform’s value is adequately secured. The platform — and community — should be open to everybody without requiring permission and aggressively promote decentralization and participation. To ensure long-term viability, both technology and community governance methods must allow for practical iteration while preventing long-term capture by any single party.

What is the unique selling point?

The Most Usable Layer1

The NEAR Protocol has been designed in such a way that any newbie from Web 2.0 or Crypto can rapidly and simply establish a presence in the Ecosystem. Numerous features enable end-users to interact with numerous operations in a straightforward and natural manner.

  • Human-readable account IDs: One of NEAR’s most distinguishing characteristics is its usage of human-readable account IDs rather than a public key hash. This dramatically enhances the user experience by providing a sense of familiarity and making it easier to recall.
  • Users can stake straight from their Native Web Wallet: Staking on NEAR is really easy and can be done immediately from their Wallet. To add to the convenience, NEAR wallet is mobile-friendly.
  • One-Click Integration of the NEAR Wallet with NEAR Dapps: The NEAR Wallet is designed to interface with all Dapps created on top of NEAR in a single click.

Scalability Through NightShade Sharding

Cos of Sharding, NEAR’s scaling system is horizontal. Sharding is the process of distributing computing among several parallelized shards. When more hardware is added to a system, the overall processing power of the network is proportional to the number of CPUs in it. The more devices and nodes that support the validation process, the higher the network’s throughput.

NEAR employs a unique sharding design known as NightShade. NightShade expects that all shards join together to form a single block. Because each block contains transactions from all shards, each block modifies the state of all shards. No participant downloads the whole blockchain; instead, they just keep the state associated with the shards for which they validate transactions.

NEAR will be able to process 2500-3000 transactions per second with four shards. NEAR’s NightShade TPS may be made potentially unlimited by increasing the amount of shards. NEAR plans to introduce dynamic resharding in the future after it has a working mainnet with a set amount of shards. As a result, the network will have the ability to dynamically divide and combine its shards.

Access Almost All Compatible Chains With Rainbow Bridge 

The NEAR team released their bridge solution in April 2021, which will enable users to move assets effortlessly from the Ethereum network to NEAR.  The bridge, dubbed the Rainbow bridge, will let token holders use their Ethereum-based assets to transfer to NEAR. They may then access dApps built on the NEAR protocol and take advantage of the underlying network’s fast finality and cheap transaction cost.

Aurora – An Ethereum Layer-2 Experience

NEAR is EVM-compatible via Project Aurora. Aurora enables easy migration of Ethereum-based decentralized applications to NEAR, while also operating as an L2 on NEAR and exploiting its high throughput and scalability. It is powered by two vital components: the Aurora Bridge and the Aurora Engine. H

NEAR Protocol Price Live Data

NEAR Price

$6.03

Trading Volume

$518.94 M

All Time High

$20.42

1hour Change

-1.21%

24hours Change

2.06%

24hours Range

-2.18%

24hours Low

$13.18

24hours High

$14.04

Liquidity ±2%

$34,349.97 B

Bids -2%

$3.43 M

Asks +2%

$3.32 M

Market Cap

$4.17 B

Fully Diluted Market Cap

6.03 B

Circulating Supply

691.28 M

Total Supply

1.00 B

Max Supply

1.00 B

NEAR Protocol Markets

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