Near Coin (NEAR) Review (9.33/10⭐)



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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 (-6.52%)
$2.5262
February 9, 2023, 7:06 am [UTC]

9.33 rating

Visitor Consensus on Near Coin Today
Positive: 53.13%Negative: 46.87%
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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.

 

A Bit About Near Coin

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 Coin?

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 Coin Price details




Very speculative and theoretical potential data
Last updated: January 25, 2023, 10:59 am
›› NEAR tokenomics and social media
 

Advantages of Near Coin

+ 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.

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Screenshots from Near Coin

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More sites where to buy/sell/trade Near Coin

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.
NEAR/USDT
NEAR/USDT, NEAR/USDT
NEAR/BNB, NEAR/BTC, NEAR/BUSD, NEAR/USDT, NEAR/ETH, NEAR/RUB, NEAR/TRY, NEAR/EUR
NEAR/USD CFDs
NEAR/BTC, NEAR/ETH, NEAR/USDC
NEAR/BTC, NEAR/USDT, NEAR/LTC
NEAR/EUR, NEAR/USD, NEAR/ETH, NEAR/USDT
NEAR/USDT, NEAR/BTC, NEAR/USDC
NEAR/ETH, NEAR/USDT
NEAR/USD, NEAR/AUD, NEAR/AED, NEAR/CAD, NEAR/CHF, NEAR/EUR, NEAR/GBP, NEAR/JPY
NEAR/USD, NEAR/USDT, NEAR/BUSD
NEAR/BTC, NEAR/ETH, NEAR/USDC, NEAR/USDT
NEAR/USDT, NEAR/USDT
 

Near Coin details and tokenomics

Near Coin 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
 

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Near Coin Newsflash
    New Loyalty Program With Near BlockchainNew Loyalty Program With Near Blockchain
    Thursday, 1 Dec 2022 6:30 pm
    The Colombian food giant Grupo Nutresa is choosing Near Network for their loyalty program. The goal is to reach at least 1 million users before the end of 2023. The goal with the program is to get all customers in one network and one account, while giving great insights for the Nutresa group


    Hacker steals $3m from NEAR launchpad projectHacker steals $3m from NEAR launchpad project
    Thursday, 3 Nov 2022 2:02 pm
    In concerning news, Skyward Finance - a project on the NEAR blockchain - has been hacked for three million dollars by an anonymous cybercriminal. The team at Skyward explained that the "Skyward Treasury has been drained through a contract exploit." In a single transaction, the fraudster obtained more than 1.1 million wrapped NEAR tokens. Although crypto hacks seem to be on the increase, that's to be expected in an industry on the rise and gaining mainstream traction. Start your crypto journey on MEXC Global here. ...
    Read the full newsflash


    The NEAR ecosystem gets new South Korean Web3 hubThe NEAR ecosystem gets new South Korean Web3 hub
    Thursday, 3 Nov 2022 8:36 am
    Have you heard? The NEAR network is opening a brand new office in the South Korean capital of Seoul. With a focus on helping business move to the decentralized, blockchain-focused Web 3.0, the NEAR Foundation said the regional hub will be dedicated to innovation, business development, education, and talent throughout the country. Korea has one of the most established Web3 ecosystems in Asia and is one of the most active cryptocurrency economies in the world. Have you started your crypto journey yet? Get involved by signing up for Crypto.com here!...
    Read the full newsflash


    USN Gets $40M Bail Out Fund from Near FoundationUSN Gets $40M Bail Out Fund from Near Foundation
    Wednesday, 26 Oct 2022 1:16 pm
    The Near Foundation decided to set-up a $40 million potential bail out fund for USN, their own stablecoin. Yesterday, Near halted the minting of USN due to 40 million undercollateralization. The new fund will be based on wrapped Tether. The new USN protection program tries to cover undercollateralization problem, which according to Near Network is not related to...
    Read the full newsflash


    Near Foundation Anounce Collaboration With Google CloudNear Foundation Anounce Collaboration With Google Cloud
    Wednesday, 5 Oct 2022 2:31 pm
    Near Foundation that is behind the Near blockchain and NEAR coin are collaborating up with Google Cloud, 9 months after the Google Cloud asset team was launched. It means that Google Cloud will be providing technical support for NEAR grantees, when scaling and developing their Web3 projects and dApps. Illia Polosukhin, the co-founder of Near, was an engineering manager for Google research between 2014 and 2017. At Google, he was...
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