NEAR Protocol NEAR

1. Summary

Ranks

Liquidity

100

Developer

92

Social

100

Momentum (beta)

57

Stack Rank™

93

Price

$5.63 +5.8%

Market Cap

$6.03B (#19)

Supply

1.06B / 1.18B

Tags

Smart Contracts Near Protocol Ecosystem Smart Contracts Near Protocol Ecosystem Layer 1 (L1) Zero Knowledge (ZK) Alleged SEC Securities FTX Holdings Capa 1 (L1) Plataforma de contrato inteligente منصة العقود الذكية نظام Near Protocol Data Availability Conocimiento cero (ZK) Ecosistema Near Protocol المعرفة الصفرية عملة Layer 1 (L1) Coinbase Ventures Portfolio Multicoin Capital Portfolio Proof of Stake (PoS) AI-Themed Coins

More Metrics

Price
52W High price	$8.82
52W High date	15th Mar 2024 (1 month ago)
All Time High (ATH) Date	16th Jan 2022 (2 years ago)
ATH Price	$20.44
% From ATH	-72.24%
All Time Low (ATL) Date	4th Nov 2020 (3 years ago)
ATL Price	$0.53
% From ATL	977.08%

Supply & Trading Volume
Trading Volume (24h)	$531.44M
Total Supply	1.18B
Circulating Supply	1.06B

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Description

NEAR Is a smart contract capable blockchain which launched its mainnet in 2020. It has a unique scaling solution that is known as Nightshade, as well as a consensus engine that is known as Doomslug.

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NEAR Is a smart contract capable blockchain which launched its mainnet in 2020. It has a unique scaling solution that is known as Nightshade, as well as a consensus engine that is known as Doomslug.

Ethereum was one of the first projects to launch a smart contract-based blockchain, and there are now many similar platforms in the cryptocurrency world. However, despite the rapid growth in terms of dApps, as well as increasingly complex dApps, there have been numerous friction points that limit their adoption.

NEAR is a decentralized development platform that provides an environment for dApp development through overcoming limitations, such as low throughput, low speeds, as well as a lack of solid cross-compatibility.

It operates on top of the NEAR Protocol, which is a proof-of-stake (PoS) blockchain that incorporates different innovations that boost its scalability while reducing costs.

NEAR is a base-layer blockchain and acts as a foundation on top of which other applications are built as well as deployed. It uses a technology known as Nightshade, which is a scaling solution that has individual sets of validators that process the transactions in a parallel way through multiple sharded chains in order to improve the transaction capacity of the blockchain.

Each shard produces a fraction of the next block, and this is known as a chunk. These are then processed and stored on the NEAR blockchain in order to finalize the transactions.

The NEAR Token Explained

The native currency of the Near Protocol is the NEAR token. It is used for incentivizing nodes on the NEAR network, as well as being used for powering the transactions as well as the numerous NEAR smart contracts. The NEAR token holders can participate in the on-chain governance of the platform, or they can have a validator vote instead of them.

Features of NEAR Protocol

NEAR is designed to be a next-gen platform for dApps. It is able to process 100,000 transactions per second and achieves this thanks to a 1-second block cadence.

Alongside this, it also provides developers with a range of modular components in the attempt of helping them fast-track their development.

When it comes to the NEAR tools that are offered for developers, you have the NEAR SDKs which include standard data structures and testing tools for Rust and AssemblyScript. Then you have Gitpod for NEAR to create a zero-time onboarding experience for developers. Then you have the NEAR Wallet which essentially lets app developers create streamlined user experiences, followed y the NEAR Explorer that aids in debugging of contracts, and the NEAR Command Line Tools that allow developers to deploy apps from local environments.

Founders of NEAR Protocol (NEAR)

The NEAR Protocol was founded by two people. The first is Alex Skidanov, and the second is Illia Polosukhin. Both of them have experience in programming and met when Alex Skidanov worked at a U.S. Startup accelerator Y Combinator.

In July of 2018, they began work on a project that focuses on allowing developers to build developers with less friction. This is what we know today as the NEAR Protocol. The developers behind the project have numerous rewards as well as nominations from different competitions in coding.

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