Near Protocol review details (NEAR)



Click to see screenshots
This cryptocurrency works on NEAR protocol, which is a scalable blockchain that helps to bridge the gap to the mainstream adoption of dApps. The Near Network was developed to be extremely easy for developers and end-users to work with. With a total supply of 1 billion tokens, the coin has been able to gain popularity among crypto investors. As a major cryptocurrency, it is available for purchase on a range of crypto exchanges, including Binance and FTX. You can use the coin to pay fees for transactions, pay for storage, and run applications.
NEARUSDT (-7.4%)
$3.522
September 28, 2022, 5:00 am [UTC]

9.29 rating

›› Buy/Sell the Near Protocol here

 

The NEAR Protocol has proven to be extremely useful, especially because of its greater transaction capacity and security. To use this network, you have to own some NEAR tokens. Unlike coins like Bitcoin, this one doesn’t require a lot of energy as it is based on the proof of stake system.

 

Briefly about Near Protocol

This Near coin was founded by Erik Trautman, an entrepreneur who has worked on Wall Street for a long time. Erik is also the founder of Viking Education. The coin was primarily meant to power the NEAR Protocol, a project that aims at making Blockchain technology scalable and highly secure. Anyone who intends to use the network has to own NEAR tokens as these will pay for transactions and storage space.

Simple, secure, and scalable technology from Near Protocol.CryptoLists.com
 

This is the native cryptocurrency of the NEAR Protocol. The company increases the supply of the token by 5% every year, but it also partially burns the existing tokens to control the supply of the coin. According to the white paper of the protocol, the company burns tokens that are used to pay for storage space and computations on the network. 90% of the newly released tokens on the network are paid out to validators, and the rest goes to the treasury to support the development of the platform.

 

Utility of Near Protocol?

The main purpose of this token is to pay the transaction fees of the network. You can also use it to purchase storage space on the blockchain, and this is essential for developers who are running applications on the network. In addition, the coin can be used to pay for computations performed on the blockchain. Investors can purchase the coin to speculate on its price, especially given the innovative nature of its associated blockchain. However, you should remember that the price of the token can rise or fall at any time.

Near Protocol Price details




Very speculative and theoretical potential data
Last updated: September 28, 2022, 3:59 am
›› NEAR tokenomics and social media
 

Advantages at Near Protocol

+ Near's development team has extensive experience in tech.
+ It is attached to the NEAR Protocol, which is quite useful.
+ Lots of respected firms support Near.
+ You can transfer Near Protocol instantly and securely.
 

Disadvantages

- NEAR Protocol experiences direct competition from giants like Ethereum.
- As a cryptocurrency, its price can be highly volatile.
- The Near coin has only been around for a few years.
- New investors may be exposed to security risks.
 

Costs

▪ Rated at 10/10

As noted earlier, the transaction fee of this token has to be paid in NEAR tokens. The fee varies from time to time, but it is always below 1 NEAR token. You should note that the network uses sharding technology to minimize the transfer fees. The transfer fees on this network are more than 10X lower than those of Ethereum, and this is one reason why it is quickly gaining popularity in the community.

 

Reputation and Buzz

▪ Reputation rated at 9/10
▪ Buzz rated at 9/10

NEAR token is extremely popular and currently has a market cap of over $4 billion. It is ranked among the top 25 cryptocurrencies by market cap. The crypto community has generally appreciated the innovative nature of the company, especially the fact that it solves the scalability problem in blockchain technology. The main challenge that has been noted is that it has to compete against established giants like Ethereum. Given the current sentiments of the community, it is highly likely that NEAR Protocol will survive for a very long time.

 

FAQ

Who is the founder of NEAR token?

This cryptocurrency was founded by Erik Trautman, an experienced entrepreneur. The co-founders of the project include Illia Polosukhin and Alexander Skidanov, both of who have extensive experience in the tech industry.

What is the purpose of NEAR token?

This cryptocurrency is used to pay fees for processing transactions and storing data. It is also used to run validator nodes on the network through staking rewards.

Where can I trade NEAR token?

If you want to buy or sell this cryptocurrency, you should use crypto exchanges like Binance, Mandala Exchange, FTX, and OKEx. Lots of decentralized exchanges will also allow you to buy and sell this altcoin.

Is NEAR token an ERC-20 token?

No, this is the native cryptocurrency of the NEAR Protocol. However, the company has built a bridge to Ethereum, meaning users can transfer ERC-20 tokens from the Ethereum blockchain to the NEAR network.

What is the total supply of this token?

The total supply of this token is 1 billion, and 5% of the supply is issued each year to support the network as epoch rewards. 90% of the newly issued tokens are distributed to validators and the rest goes to the treasury.

›› Trade the Near Protocol here›› Buy/Sell the Near Protocol here

Screenshots from Near Protocol

Click for larger image
 

More sites where to buy/sell/trade Near Protocol

Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this coin. Click on the logo to read our review.
BNB/NEAR, NEAR
NEAR/USD CFDs
NEAR/USDC, NEAR/ETH, NEAR/BTC
NEAR/BTC, NEAR/USDT, NEAR/LTC
NEAR/EUR, NEAR/USD, NEAR/ETH, NEAR/USDT
NEAR/USDC, NEAR/BTC, NEAR/USDT
NEAR/USD, NEAR/AUD, NEAR/AED, NEAR/CAD, NEAR/CHF, NEAR/EUR, NEAR/GBP, NEAR/JPY
 

Near Protocol details and tokenomics

Near Protocol Ticker: NEAR
Contract address: n/a
Type of crypto: native-coin
Launch/ICO Date: August 23, 2020
Date for the end of ICO: August 25, 2020
Resources & Social media
🔗Blockchain URL: https://explorer.near.org
 

Other tokens or coins to check out

Since you are interested in Near Protocol, you may also want to check out the coin(s) or token(s) below?
Near Protocol Newsflash
    Near Entusiasts at NearCon, 2022Near Entusiasts at NearCon, 2022
    Monday, 12 Sep 2022 11:50 am
    Yesterday, Crypto Lists had the pleasure to meet lots of Near Entusiasts. Here are a few of them. Do you recognise any of them? To the far right we have Mark Mi and in the middle with green t-shirt is Alexander Scharrer - both working with business development at Near Foundation. Over 3000 people were present at NearCon 2022 and later today, we'll post more pictures from the event


    Swissborg List NEAR Before NearConSwissborg List NEAR Before NearCon
    Wednesday, 10 Aug 2022 6:27 pm
    Just in time for NearCon, the conference about Near blockchain and Near cryptocurrency - Swissborg decided to launch the NEAR on their app. This blockchain aims to eliminate slow transaction speed, throughput and the flagship event i...
    Read the full newsflash


    Two scalable blockchains gaining supporters: Near & SolanaTwo scalable blockchains gaining supporters: Near & Solana
    Tuesday, 3 May 2022 11:42 am
    Near Protocol and Solana Network have been gaining popularity among crypto enthusiasts in the last months, and there are very good reasons for that. The development of Solana started in 2017, but the network went live in 2020. This blockchain aims at improving scalability by adding a proof-of-history consensus on top of the proof-of-stake consensus. The SOL coin also enjoys speedy transactions and low transfer costs. Solana has a market cap of over $28 billion and is ranked as the eighth most important cryptocurrency...
    Read the full newsflash

Recent crypto sites
Recent crypto coins
CryptoLists.com
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.