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NEAR Protocol

NEAR Protocol NEAR

coin
NEAR Protocol Price (NEAR)
$1.61
3.05% Buy NEAR

0.0009 ETH

0.0000597 BTC

Low: $1.58
High: $1.66
24h
Market Cap
$1,457,099,076
3.05%
Fully Diluted Market Cap
$1,605,404,156
3.05%
Volume
24h
$45,218,648
49.94%
Volume / Market Cap
0.0310
Circulating Supply
907,621,343 NEAR
Max Supply
--
Total Supply
1,000,000,000
NEAR Protocol NEAR
Price: $1.61
3.05% Buy NEAR
Price: $2
3.05%
Buy NEAR
decentralized applications (dApps)<\/a><\/strong> on top of the NEAR network.<\/p>\n<p>NEAR Protocol is a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-layer-1-blockchain/">Layer-1 blockchain<\/strong><\/a>, which means that it&rsquo;s not built on another blockchain, it has its own base level. Usually, Layer-1 blockchains are known for having issues with scalability. However, <strong>NEAR Protocol aims to solve these issues<\/strong>.<\/p>\n<p>Besides that, NEAR Protocol makes life easier for both newbies and developers. For example, it uses addresses that are easy to read for regular humans and creates dApps that have a similar registration process as the traditional apps do. By doing that, NEAR Protocol makes the complicated onboarding process much easier for beginners.<\/p>\n<p>Talking about developers, NEAR Protocol provides them with modular components. This makes it possible for developers to roll out new token contracts or NFTs much faster. Besides that, the NEAR Protocol announced the availability of a <strong>JavaScript software development kit (JS SDK)<\/strong> in August 2022. It allows JavaScript programmers to enter the blockchain and Web3 space. This software makes smart contract creation much easier compared to the usual programming languages used for that.<\/p>\n<p>Lastly, it&rsquo;s important to mention that <strong>the Rainbow Bridge<\/strong> makes NEAR interoperable with <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-ethereum-eth/">Ethereum. It enables developers to use Ethereum assets and smart contracts on NEAR as well as send or receive ETH through the NEAR network.<\/p>\n<h2>The Story of the NEAR Protocol<\/h2>\n<p>The NEAR Protocol was developed by <strong>Erik Trautman, Illia Polosukhin, and Alexander Skidanov.<\/strong> The trio is pretty complex because it has an entrepreneur (Trautman), a former Google employee (Polosukhin), and a computer scientist (Skidanov).<\/p>\n<p>Several winners from the International Collegiate Programming Contest (ICPC) are among the large and skilled NEAR Collective development team. According to the organization, some of the few large-scale sharded systems have been constructed by its members, which is what the protocol is trying to do as well.<\/p>\n<p>On April 22, 2020, the NEAR Foundation introduced the Phase 0 mainnet of NEAR. In this phase, NEAR was run by employing a Proof-of-Authority consensus mechanism. Though later, during Phase 1, the NEAR Protocol started to involve the community in the decision-making processes.<\/p>\n<p>However, the network didn't fully decentralize and become community-run until Phase 2 of the mainnet (the final version) launched on October 13, 2020.<\/p>\n<h2>How Does the NEAR Protocol Work?<\/h2>\n<p>One of the central solutions that Layer-1 blockchains employ is <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-sharding/">sharding. It's used to increase scalability and it works by splitting the network into discrete data sets called &ldquo;shards&rdquo;, which the network can then process in parallel.<\/p>\n<p>The NEAR Protocol crypto project has <strong>its own version of the sharding mechanism called Nightshade<\/strong>. Similar to traditional sharding, this approach uses individual sets of validators to process transactions simultaneously across shards. However, unlike traditional sharding, the Nightshade method also creates chunks, which essentially are portions of upcoming blocks. Because of these chunks, a one-second block cycle is created, which allows NEAR Protocol to accomplish up to 100,000 transactions per second. At the same time, it manages to maintain extremely low transaction fees.<\/p>\n<p>Apart from having its own sharding mechanism, the NEAR Protocol also has <strong>a custom <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">Proof-of-Stake (PoS)<\/a> consensus mechanism called<\/strong> <strong>Doomslug. <\/strong>The Doomslug mechanism employs two consensus rounds. When a block receives the first round of communication, it&rsquo;s deemed to be finalized immediately. Rather than directly competing with one another based on stake, validators produce blocks alternatively. This allows the NEAR Protocol to have nearly instantaneous finality.<\/p>\n<h2>What is the Purpose of NEAR Coins?<\/h2>\n<p>Essentially, NEAR is <strong>a utility token.<\/strong> It allows NEAR token holders to develop and use dApps on NEAR. Also, NEAR tokens are used to pay fees for utilizing these dApps. There are two types of fees on the NEAR network &ndash; transaction fees and data storing fees (users pay for each kilobyte of space utilized by an account).<\/p>\n<p>Transaction fees are determined based on the complexity of the transaction. The fees are established in what are known as \"gas\" accounting units. 70% of the transaction fees are burned to keep the NEAR token deflationary, while the remaining 30% are returned to contracts that participated in transactions.<\/p>\n<p>Besides that, NEAR acts as <strong>a&nbsp;governance token<\/strong> by allowing holders to participate in the voting process while deciding on future technological developments of the protocol, resource allocation across the network, and participant rewards. One NEAR coin is equivalent to one vote.<\/p>\n<p>Lastly, <strong>staking NEAR tokens<\/strong> allows holders to run validator nodes on the network and earn staking rewards. The stake size is based on the total amount of NEAR that is being staked at that moment, as well as the stakes made by other validators within the shard. The staking rewards are issued when validators execute transactions, create new blocks, and maintain the network overall. NEAR token holders can lend their tokens to staking pools that back validator rewards.<\/p>\n<p><em>Also, don't forget to check out the aforementioned NEAR Protocol price chart to see the current (or previous) NEAR price.<\/em><\/p>\n<h2>Tokenomics of NEAR Coins<\/h2>\n<p>The max supply of NEAR coins is 1 billion, which was created with the Genesis block of the NEAR blockchain. However, each year, <strong>epoch incentives<\/strong> <strong>worth 5% of additionally issued supply<\/strong> are distributed to support the network. 4.5% of this incentive goes to validators, while 0.5% goes to the NEAR treasury.<\/p>\n<p>Overall, the total supply of NEAR tokens was allocated for community sale, foundation endowment, early ecosystem, core contributors, backers, community grants, and operation grants. The percentage of the portions that each sphere received was ranging from 6.1% to 17.6%.<\/p>\n<p>Besides, talking about the NEAR Protocol price, it should be noted that it&rsquo;s prone to crypto market changes. This means that, as the whole crypto market fluctuates, so does the NEAR price. However, this is usually the case with most crypto assets because the whole market is almost never stable due to various internal and external aspects.<\/p>\n<h2>The Fund of NEAR Protocol<\/h2>\n<p>NEAR announced an $800 million fund dedicated to projects that aim at <strong>boosting the NEAR Protocol ecosystem's expansion<\/strong> on October 25, 2021. Proximity Labs dedicated $350 million to this fund.<\/p>\n<p>NEAR concentrates on supporting teams that are actively innovating and redesigning the way people interact with money through decentralized finance. Additionally, NEAR seeks to find projects that focus on developing non-fungible tokens, decentralized autonomous organizations, and crypto-based games.<\/p>\n<p>Out of the total amount of $800 million, $100 million was dedicated to the Startup Grant Pools. 20 businesses from these pools had a right to get $5 million each. Besides that, $250 million was dedicated to helping scale ongoing crypto projects.<\/p>\n<h2>What is the Sender Wallet?<\/h2>\n<p>The Sender Wallet is the first <strong>NEAR-based non-custodial mobile wallet<\/strong>. It was launched in August 2022. There is both an app and a browser extension for this wallet. It has multi-chain support, allowing all Ethereum-based chains and, of course, the NEAR chain. <em>What can you do with it?<\/em> You can send and receive various crypto assets (including NFTs), swap your assets on <a href=https://www.bitdegree.org/"//crypto//best-decentralized-exchange/">DEXs, as well as track the entire crypto market.<\/p>\n<p>The wallet is just one of many ways the NEAR Protocol crypto project has been expanding since its mainnet launch in 2020.<\/p>","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/near-protocol-near-price","crypto_currency_info":{"id":331,"crypto_currency_id":290,"description":"NEAR Protocol (NEAR) is a cryptocurrency launched in 2020. NEAR Protocol has a current supply of 1,000,000,000 with 660,052,596 in circulation. The last known price of NEAR Protocol is 12.62335693 USD and is up 4.18 over the last 24 hours. It is currently trading on 119 active market(s) with $882,224,622.64 traded over the last 24 hours. 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More information can be found at https:\\\/\\\/near.org\\\/.\",\"slug\":\"near-protocol\",\"logo\":\"https:\\\/\\\/s2.coinmarketcap.com\\\/static\\\/img\\\/coins\\\/64x64\\\/6535.png\",\"subreddit\":\"\",\"notice\":\"Learn more about \\\"[Near Protocol](https:\\\/\\\/coinmarketcap.com\\\/earn\\\/project\\\/near-protocol)\\\" & Earn $NEAR\",\"tags\":[\"platform\",\"staking\",\"coinbase-ventures-portfolio\",\"arrington-xrp-capital-portfolio\",\"coinfund-portfolio\",\"electric-capital-portfolio\",\"fabric-ventures-portfolio\",\"kenetic-capital-portfolio\",\"near-protocol-ecosystem\",\"injective-ecosystem\",\"bnb-chain\"],\"tag-names\":[\"Platform\",\"Staking\",\"Coinbase Ventures Portfolio\",\"Arrington XRP Capital Portfolio\",\"Coinfund Portfolio\",\"Electric Capital Portfolio\",\"Fabric Ventures Portfolio\",\"Kenetic Capital Portfolio\",\"Near Protocol Ecosystem\",\"Injective Ecosystem\",\"BNB Chain\"],\"tag-groups\":[\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"PLATFORM\",\"PLATFORM\"],\"urls\":{\"website\":[\"https:\\\/\\\/near.org\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/NEARProtocol\"],\"message_board\":[\"https:\\\/\\\/near.org\\\/blog\\\/\",\"https:\\\/\\\/medium.com\\\/nearprotocol\"],\"chat\":[\"https:\\\/\\\/t.me\\\/cryptonear\",\"https:\\\/\\\/near.org\\\/wechat\\\/\"],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/explorer.near.org\\\/\",\"https:\\\/\\\/hubble.figment.io\\\/near\\\/chains\\\/mainnet\",\"https:\\\/\\\/bscscan.com\\\/token\\\/0x1fa4a73a3f0133f0025378af00236f3abdee5d63\"],\"reddit\":[],\"technical_doc\":[],\"source_code\":[\"https:\\\/\\\/github.com\\\/nearprotocol\\\/nearcore\"],\"announcement\":[]},\"platform\":null,\"date_added\":\"2020-08-11T00:00:00.000Z\",\"twitter_username\":\"NEARProtocol\",\"is_hidden\":0,\"date_launched\":\"2020-10-14T00:00:00.000Z\",\"contract_address\":[{\"contract_address\":\"0x1fa4a73a3f0133f0025378af00236f3abdee5d63\",\"platform\":{\"name\":\"BNB Smart Chain (BEP20)\",\"coin\":{\"id\":\"1839\",\"name\":\"BNB\",\"symbol\":\"BNB\",\"slug\":\"bnb\"}}}],\"self_reported_circulating_supply\":null,\"self_reported_tags\":null,\"self_reported_market_cap\":null}","launched_at":"2020-10-14 03:00:00","created_at":"2022-03-25T14:20:19.000000Z","updated_at":"2023-05-18T14:34:12.000000Z"},"crypto_currency_social":{"id":284,"crypto_currency_id":290,"twitter":"{\"name\":\"NEAR Protocol\",\"username\":\"@NEARProtocol\",\"follower_count\":1753502,\"following_count\":1387,\"tweet_count\":7886,\"created_at\":\"2018-08-21 00:00:00\"}","reddit":"{\"subscribers\":14179,\"description\":\"NEAR is the network for a world reimagined. Through simple, secure, and scalable technology, millions are empowered to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future.\",\"created_at\":\"2018-10-18 00:00:00\",\"subreddit_type\":\"public\",\"subreddit_name\":\"r\\\/nearprotocol\",\"moderators\":29,\"hot\":[{\"title\":\"Near Foundation Ecosystem Pulse Survey\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/12x6zip\\\/near_foundation_ecosystem_pulse_survey\\\/\",\"created_at\":\"2023-04-24 07:12:31\",\"icons\":[]},{\"title\":\"Have you heard of AI LAND?????\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13nn39e\\\/have_you_heard_of_ai_land\\\/\",\"created_at\":\"2023-05-21 08:18:41\",\"icons\":[]},{\"title\":\"Democratizing DeFi in NEAR.\",\"author\":\"elturtlex\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13no6yy\\\/democratizing_defi_in_near\\\/\",\"created_at\":\"2023-05-21 09:19:33\",\"icons\":[]},{\"title\":\"Hello everyone\",\"author\":\"Ceejay_K\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13mpdxl\\\/hello_everyone\\\/\",\"created_at\":\"2023-05-20 11:27:25\",\"icons\":[]},{\"title\":\"CoinGecko \\ud83e\\udd8e just announced a Candy Rewards NFT raffle \\ud83c\\udf6c on NEAR!!\",\"author\":\"rahulgoel1995\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13lmbjo\\\/coingecko_just_announced_a_candy_rewards_nft\\\/\",\"created_at\":\"2023-05-19 05:43:41\",\"icons\":[]},{\"title\":\"Octaloop Is Bringing the India Blockchain Tour to Delhi, Powered by NEAR Foundation\",\"author\":\"Neelesh15\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13l4i3i\\\/octaloop_is_bringing_the_india_blockchain_tour_to\\\/\",\"created_at\":\"2023-05-18 17:01:40\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/18 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13l31p8\\\/nearweek_daily_newsletter_0518\\\/\",\"created_at\":\"2023-05-18 16:05:00\",\"icons\":[]},{\"title\":\"NEAR Protocol Partners with Wormhole to Launch Trustless NEAR &lt;&gt; ETH Corridor\",\"author\":\"azcoinnews\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13k4lqa\\\/near_protocol_partners_with_wormhole_to_launch\\\/\",\"created_at\":\"2023-05-17 15:14:33\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/17 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13k65f4\\\/nearweek_daily_newsletter_0517\\\/\",\"created_at\":\"2023-05-17 16:10:03\",\"icons\":[]},{\"title\":\"NEAR Integrates Wormhole technology\",\"author\":\"everstake_inna\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13jbyrk\\\/near_integrates_wormhole_technology\\\/\",\"created_at\":\"2023-05-16 17:44:54\",\"icons\":[]},{\"title\":\"Near Foundation Town Hall - May 17th, 3pm UTC\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13jodto\\\/near_foundation_town_hall_may_17th_3pm_utc\\\/\",\"created_at\":\"2023-05-17 02:11:23\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/16 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13jcdqo\\\/nearweek_daily_newsletter_0516\\\/\",\"created_at\":\"2023-05-16 18:00:51\",\"icons\":[]},{\"title\":\"Rep - A new Twitter like social network (with a pokemon Go twist) launching on top of NEAR very soon.\",\"author\":\"superfatman2\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13ir3ku\\\/rep_a_new_twitter_like_social_network_with_a\\\/\",\"created_at\":\"2023-05-16 01:30:46\",\"icons\":[]},{\"title\":\"Text Recap : AMA with Rogues studio!\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13itzqj\\\/text_recap_ama_with_rogues_studio\\\/\",\"created_at\":\"2023-05-16 03:42:06\",\"icons\":[]},{\"title\":\"\\ud83d\\udde3 Join us tomorrow May 16 at 2PM UTC \\ud83d\\udd51 for an insightful AMA with Learn Near Club - one of the most popular Dapps built on NEAR that powers an intuitive (L)Earn platform \\ud83e\\uddd1\\u200d\\ud83c\\udf93 The AMA will take place in the Near Telegram Community voice chat. Don't miss out! \\ud83d\\udca5\",\"author\":\"fiatisabubble\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13ihuat\\\/join_us_tomorrow_may_16_at_2pm_utc_for_an\\\/\",\"created_at\":\"2023-05-15 19:30:59\",\"icons\":[]},{\"title\":\"Weekly updates by Everstake\",\"author\":\"everstake_inna\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13i87hn\\\/weekly_updates_by_everstake\\\/\",\"created_at\":\"2023-05-15 13:23:19\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/15 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13ietiy\\\/nearweek_daily_newsletter_0515\\\/\",\"created_at\":\"2023-05-15 17:41:09\",\"icons\":[]},{\"title\":\"Hey Near Fam, I've just did a video about the project, Trading analysis, feel free to take a look :) Please write your opinion in the comments below :)\",\"author\":\"Key-Cell551\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13iabj6\\\/hey_near_fam_ive_just_did_a_video_about_the\\\/\",\"created_at\":\"2023-05-15 14:43:00\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/11\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13es5zk\\\/nearweek_daily_newsletter_0511\\\/\",\"created_at\":\"2023-05-11 16:25:11\",\"icons\":[]},{\"title\":\"?? What is NEAR HORIZON ??\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13eadhr\\\/what_is_near_horizon\\\/\",\"created_at\":\"2023-05-11 02:14:41\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/10 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13dv9jy\\\/nearweek_daily_newsletter_0510\\\/\",\"created_at\":\"2023-05-10 16:10:30\",\"icons\":[]},{\"title\":\"Ecosystem Showcase AMA with Rogues!\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13di9q7\\\/ecosystem_showcase_ama_with_rogues\\\/\",\"created_at\":\"2023-05-10 06:24:35\",\"icons\":[]},{\"title\":\"Read Marieke Flament's, CEO of the Near Foundation, article on how blockchain technology can play a role in making fairer and more trustworthy AI models \\ud83e\\udef6\",\"author\":\"fiatisabubble\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13dlkn4\\\/read_marieke_flaments_ceo_of_the_near_foundation\\\/\",\"created_at\":\"2023-05-10 09:40:58\",\"icons\":[]},{\"title\":\"Building a wallet for Aurora\",\"author\":\"cmptrwizard\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13dfjso\\\/building_a_wallet_for_aurora\\\/\",\"created_at\":\"2023-05-10 03:56:16\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/09 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13cywt1\\\/nearweek_daily_newsletter_0509\\\/\",\"created_at\":\"2023-05-09 16:46:29\",\"icons\":[]},{\"title\":\"Recordings of the Consensus Protocol Village talks with the NEAR Protocol, Pagoda, and Aurora Labs team!\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13cedud\\\/recordings_of_the_consensus_protocol_village\\\/\",\"created_at\":\"2023-05-09 03:41:57\",\"icons\":[]}]}","github":"{\"stars\":2053,\"watchers\":77,\"forks\":461,\"language\":\"Rust\",\"license\":\"GNU General Public License v3.0\",\"repo_name\":\"nearprotocol\\\/nearcore\",\"repo_link\":\"https:\\\/\\\/github.com\\\/nearprotocol\\\/nearcore\",\"public_repos\":60,\"bio\":\"https:\\\/\\\/github.com\\\/near\",\"type\":\"Organization\",\"username\":\"nearprotocol\",\"user_link\":\"https:\\\/\\\/github.com\\\/nearprotocol\",\"created_at\":\"2018-08-21 00:00:00\"}","telegram":"{\"title\":\"NEAR Protocol Official\",\"description\":\"NEAR is a builder's fastest path to market. Do things that you didn't think were possible on blockchain. This channel is for tech and product discussions. Announcements: t.me\\\/nearprotocolnews\",\"chat_id\":\"@cryptonear\",\"member_count\":47869}","domain":"{\"domain_rating\":77,\"ahrefs_top\":25505,\"traffic\":38626.26768481816,\"website\":\"https:\\\/\\\/near.org\"}"},"buy_page":null,"halving_page":null}" :fiat-currency=""USD"">
decentralized applications (dApps)<\/a><\/strong> on top of the NEAR network.<\/p>\n<p>NEAR Protocol is a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-layer-1-blockchain/">Layer-1 blockchain<\/strong><\/a>, which means that it&rsquo;s not built on another blockchain, it has its own base level. Usually, Layer-1 blockchains are known for having issues with scalability. However, <strong>NEAR Protocol aims to solve these issues<\/strong>.<\/p>\n<p>Besides that, NEAR Protocol makes life easier for both newbies and developers. For example, it uses addresses that are easy to read for regular humans and creates dApps that have a similar registration process as the traditional apps do. By doing that, NEAR Protocol makes the complicated onboarding process much easier for beginners.<\/p>\n<p>Talking about developers, NEAR Protocol provides them with modular components. This makes it possible for developers to roll out new token contracts or NFTs much faster. Besides that, the NEAR Protocol announced the availability of a <strong>JavaScript software development kit (JS SDK)<\/strong> in August 2022. It allows JavaScript programmers to enter the blockchain and Web3 space. This software makes smart contract creation much easier compared to the usual programming languages used for that.<\/p>\n<p>Lastly, it&rsquo;s important to mention that <strong>the Rainbow Bridge<\/strong> makes NEAR interoperable with <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-ethereum-eth/">Ethereum. It enables developers to use Ethereum assets and smart contracts on NEAR as well as send or receive ETH through the NEAR network.<\/p>\n<h2>The Story of the NEAR Protocol<\/h2>\n<p>The NEAR Protocol was developed by <strong>Erik Trautman, Illia Polosukhin, and Alexander Skidanov.<\/strong> The trio is pretty complex because it has an entrepreneur (Trautman), a former Google employee (Polosukhin), and a computer scientist (Skidanov).<\/p>\n<p>Several winners from the International Collegiate Programming Contest (ICPC) are among the large and skilled NEAR Collective development team. According to the organization, some of the few large-scale sharded systems have been constructed by its members, which is what the protocol is trying to do as well.<\/p>\n<p>On April 22, 2020, the NEAR Foundation introduced the Phase 0 mainnet of NEAR. In this phase, NEAR was run by employing a Proof-of-Authority consensus mechanism. Though later, during Phase 1, the NEAR Protocol started to involve the community in the decision-making processes.<\/p>\n<p>However, the network didn't fully decentralize and become community-run until Phase 2 of the mainnet (the final version) launched on October 13, 2020.<\/p>\n<h2>How Does the NEAR Protocol Work?<\/h2>\n<p>One of the central solutions that Layer-1 blockchains employ is <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-sharding/">sharding. It's used to increase scalability and it works by splitting the network into discrete data sets called &ldquo;shards&rdquo;, which the network can then process in parallel.<\/p>\n<p>The NEAR Protocol crypto project has <strong>its own version of the sharding mechanism called Nightshade<\/strong>. Similar to traditional sharding, this approach uses individual sets of validators to process transactions simultaneously across shards. However, unlike traditional sharding, the Nightshade method also creates chunks, which essentially are portions of upcoming blocks. Because of these chunks, a one-second block cycle is created, which allows NEAR Protocol to accomplish up to 100,000 transactions per second. At the same time, it manages to maintain extremely low transaction fees.<\/p>\n<p>Apart from having its own sharding mechanism, the NEAR Protocol also has <strong>a custom <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">Proof-of-Stake (PoS)<\/a> consensus mechanism called<\/strong> <strong>Doomslug. <\/strong>The Doomslug mechanism employs two consensus rounds. When a block receives the first round of communication, it&rsquo;s deemed to be finalized immediately. Rather than directly competing with one another based on stake, validators produce blocks alternatively. This allows the NEAR Protocol to have nearly instantaneous finality.<\/p>\n<h2>What is the Purpose of NEAR Coins?<\/h2>\n<p>Essentially, NEAR is <strong>a utility token.<\/strong> It allows NEAR token holders to develop and use dApps on NEAR. Also, NEAR tokens are used to pay fees for utilizing these dApps. There are two types of fees on the NEAR network &ndash; transaction fees and data storing fees (users pay for each kilobyte of space utilized by an account).<\/p>\n<p>Transaction fees are determined based on the complexity of the transaction. The fees are established in what are known as \"gas\" accounting units. 70% of the transaction fees are burned to keep the NEAR token deflationary, while the remaining 30% are returned to contracts that participated in transactions.<\/p>\n<p>Besides that, NEAR acts as <strong>a&nbsp;governance token<\/strong> by allowing holders to participate in the voting process while deciding on future technological developments of the protocol, resource allocation across the network, and participant rewards. One NEAR coin is equivalent to one vote.<\/p>\n<p>Lastly, <strong>staking NEAR tokens<\/strong> allows holders to run validator nodes on the network and earn staking rewards. The stake size is based on the total amount of NEAR that is being staked at that moment, as well as the stakes made by other validators within the shard. The staking rewards are issued when validators execute transactions, create new blocks, and maintain the network overall. NEAR token holders can lend their tokens to staking pools that back validator rewards.<\/p>\n<p><em>Also, don't forget to check out the aforementioned NEAR Protocol price chart to see the current (or previous) NEAR price.<\/em><\/p>\n<h2>Tokenomics of NEAR Coins<\/h2>\n<p>The max supply of NEAR coins is 1 billion, which was created with the Genesis block of the NEAR blockchain. However, each year, <strong>epoch incentives<\/strong> <strong>worth 5% of additionally issued supply<\/strong> are distributed to support the network. 4.5% of this incentive goes to validators, while 0.5% goes to the NEAR treasury.<\/p>\n<p>Overall, the total supply of NEAR tokens was allocated for community sale, foundation endowment, early ecosystem, core contributors, backers, community grants, and operation grants. The percentage of the portions that each sphere received was ranging from 6.1% to 17.6%.<\/p>\n<p>Besides, talking about the NEAR Protocol price, it should be noted that it&rsquo;s prone to crypto market changes. This means that, as the whole crypto market fluctuates, so does the NEAR price. However, this is usually the case with most crypto assets because the whole market is almost never stable due to various internal and external aspects.<\/p>\n<h2>The Fund of NEAR Protocol<\/h2>\n<p>NEAR announced an $800 million fund dedicated to projects that aim at <strong>boosting the NEAR Protocol ecosystem's expansion<\/strong> on October 25, 2021. Proximity Labs dedicated $350 million to this fund.<\/p>\n<p>NEAR concentrates on supporting teams that are actively innovating and redesigning the way people interact with money through decentralized finance. Additionally, NEAR seeks to find projects that focus on developing non-fungible tokens, decentralized autonomous organizations, and crypto-based games.<\/p>\n<p>Out of the total amount of $800 million, $100 million was dedicated to the Startup Grant Pools. 20 businesses from these pools had a right to get $5 million each. Besides that, $250 million was dedicated to helping scale ongoing crypto projects.<\/p>\n<h2>What is the Sender Wallet?<\/h2>\n<p>The Sender Wallet is the first <strong>NEAR-based non-custodial mobile wallet<\/strong>. It was launched in August 2022. There is both an app and a browser extension for this wallet. It has multi-chain support, allowing all Ethereum-based chains and, of course, the NEAR chain. <em>What can you do with it?<\/em> You can send and receive various crypto assets (including NFTs), swap your assets on <a href=https://www.bitdegree.org/"//crypto//best-decentralized-exchange/">DEXs, as well as track the entire crypto market.<\/p>\n<p>The wallet is just one of many ways the NEAR Protocol crypto project has been expanding since its mainnet launch in 2020.<\/p>","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/near-protocol-near-price","crypto_currency_info":{"id":331,"crypto_currency_id":290,"description":"NEAR Protocol (NEAR) is a cryptocurrency launched in 2020. NEAR Protocol has a current supply of 1,000,000,000 with 660,052,596 in circulation. The last known price of NEAR Protocol is 12.62335693 USD and is up 4.18 over the last 24 hours. It is currently trading on 119 active market(s) with $882,224,622.64 traded over the last 24 hours. More information can be found at https:\/\/near.org\/.","tags":"[\"platform\",\"staking\",\"coinbase-ventures-portfolio\",\"arrington-xrp-capital-portfolio\",\"coinfund-portfolio\",\"electric-capital-portfolio\",\"fabric-ventures-portfolio\",\"kenetic-capital-portfolio\",\"near-protocol-ecosystem\",\"injective-ecosystem\",\"bnb-chain\"]","platform":null,"category":"coin","cmc_logo":"https:\/\/s2.coinmarketcap.com\/static\/img\/coins\/64x64\/6535.png","original_links":"{\"website\":[\"https:\\\/\\\/near.org\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/NEARProtocol\"],\"message_board\":[\"https:\\\/\\\/near.org\\\/blog\\\/\",\"https:\\\/\\\/medium.com\\\/nearprotocol\"],\"chat\":[\"https:\\\/\\\/t.me\\\/cryptonear\",\"https:\\\/\\\/near.org\\\/wechat\\\/\"],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/explorer.near.org\\\/\",\"https:\\\/\\\/hubble.figment.io\\\/near\\\/chains\\\/mainnet\",\"https:\\\/\\\/bscscan.com\\\/token\\\/0x1fa4a73a3f0133f0025378af00236f3abdee5d63\"],\"reddit\":[],\"technical_doc\":[],\"source_code\":[\"https:\\\/\\\/github.com\\\/nearprotocol\\\/nearcore\"],\"announcement\":[]}","links":"{\"website\":{\"near.org\":\"https:\\\/\\\/near.org\\\/\"},\"community\":{\"twitter.com\":\"https:\\\/\\\/twitter.com\\\/NEARProtocol\",\"near.org\":\"https:\\\/\\\/near.org\\\/blog\\\/\",\"reddit.com\":\"https:\\\/\\\/www.reddit.com\\\/r\\\/nearprotocol\\\/\",\"telegram.org\":\"https:\\\/\\\/t.me\\\/cryptonear\"},\"explorer\":{\"explorer.near.org\":\"https:\\\/\\\/explorer.near.org\\\/\",\"hubble.figment.io\":\"https:\\\/\\\/hubble.figment.io\\\/near\\\/chains\\\/mainnet\",\"bscscan.com\":\"https:\\\/\\\/bscscan.com\\\/token\\\/0x1fa4a73a3f0133f0025378af00236f3abdee5d63\"},\"source_code\":\"https:\\\/\\\/github.com\\\/nearprotocol\\\/nearcore\"}","data":"{\"id\":6535,\"name\":\"NEAR Protocol\",\"symbol\":\"NEAR\",\"category\":\"coin\",\"description\":\"NEAR Protocol (NEAR) is a cryptocurrency launched in 2020. NEAR Protocol has a current supply of 1,000,000,000 with 660,052,596 in circulation. The last known price of NEAR Protocol is 12.62335693 USD and is up 4.18 over the last 24 hours. It is currently trading on 119 active market(s) with $882,224,622.64 traded over the last 24 hours. More information can be found at https:\\\/\\\/near.org\\\/.\",\"slug\":\"near-protocol\",\"logo\":\"https:\\\/\\\/s2.coinmarketcap.com\\\/static\\\/img\\\/coins\\\/64x64\\\/6535.png\",\"subreddit\":\"\",\"notice\":\"Learn more about \\\"[Near Protocol](https:\\\/\\\/coinmarketcap.com\\\/earn\\\/project\\\/near-protocol)\\\" & Earn $NEAR\",\"tags\":[\"platform\",\"staking\",\"coinbase-ventures-portfolio\",\"arrington-xrp-capital-portfolio\",\"coinfund-portfolio\",\"electric-capital-portfolio\",\"fabric-ventures-portfolio\",\"kenetic-capital-portfolio\",\"near-protocol-ecosystem\",\"injective-ecosystem\",\"bnb-chain\"],\"tag-names\":[\"Platform\",\"Staking\",\"Coinbase Ventures Portfolio\",\"Arrington XRP Capital Portfolio\",\"Coinfund Portfolio\",\"Electric Capital Portfolio\",\"Fabric Ventures Portfolio\",\"Kenetic Capital Portfolio\",\"Near Protocol Ecosystem\",\"Injective Ecosystem\",\"BNB Chain\"],\"tag-groups\":[\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"PLATFORM\",\"PLATFORM\"],\"urls\":{\"website\":[\"https:\\\/\\\/near.org\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/NEARProtocol\"],\"message_board\":[\"https:\\\/\\\/near.org\\\/blog\\\/\",\"https:\\\/\\\/medium.com\\\/nearprotocol\"],\"chat\":[\"https:\\\/\\\/t.me\\\/cryptonear\",\"https:\\\/\\\/near.org\\\/wechat\\\/\"],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/explorer.near.org\\\/\",\"https:\\\/\\\/hubble.figment.io\\\/near\\\/chains\\\/mainnet\",\"https:\\\/\\\/bscscan.com\\\/token\\\/0x1fa4a73a3f0133f0025378af00236f3abdee5d63\"],\"reddit\":[],\"technical_doc\":[],\"source_code\":[\"https:\\\/\\\/github.com\\\/nearprotocol\\\/nearcore\"],\"announcement\":[]},\"platform\":null,\"date_added\":\"2020-08-11T00:00:00.000Z\",\"twitter_username\":\"NEARProtocol\",\"is_hidden\":0,\"date_launched\":\"2020-10-14T00:00:00.000Z\",\"contract_address\":[{\"contract_address\":\"0x1fa4a73a3f0133f0025378af00236f3abdee5d63\",\"platform\":{\"name\":\"BNB Smart Chain (BEP20)\",\"coin\":{\"id\":\"1839\",\"name\":\"BNB\",\"symbol\":\"BNB\",\"slug\":\"bnb\"}}}],\"self_reported_circulating_supply\":null,\"self_reported_tags\":null,\"self_reported_market_cap\":null}","launched_at":"2020-10-14 03:00:00","created_at":"2022-03-25T14:20:19.000000Z","updated_at":"2023-05-18T14:34:12.000000Z"},"crypto_currency_social":{"id":284,"crypto_currency_id":290,"twitter":"{\"name\":\"NEAR Protocol\",\"username\":\"@NEARProtocol\",\"follower_count\":1753502,\"following_count\":1387,\"tweet_count\":7886,\"created_at\":\"2018-08-21 00:00:00\"}","reddit":"{\"subscribers\":14179,\"description\":\"NEAR is the network for a world reimagined. Through simple, secure, and scalable technology, millions are empowered to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future.\",\"created_at\":\"2018-10-18 00:00:00\",\"subreddit_type\":\"public\",\"subreddit_name\":\"r\\\/nearprotocol\",\"moderators\":29,\"hot\":[{\"title\":\"Near Foundation Ecosystem Pulse Survey\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/12x6zip\\\/near_foundation_ecosystem_pulse_survey\\\/\",\"created_at\":\"2023-04-24 07:12:31\",\"icons\":[]},{\"title\":\"Have you heard of AI LAND?????\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13nn39e\\\/have_you_heard_of_ai_land\\\/\",\"created_at\":\"2023-05-21 08:18:41\",\"icons\":[]},{\"title\":\"Democratizing DeFi in NEAR.\",\"author\":\"elturtlex\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13no6yy\\\/democratizing_defi_in_near\\\/\",\"created_at\":\"2023-05-21 09:19:33\",\"icons\":[]},{\"title\":\"Hello everyone\",\"author\":\"Ceejay_K\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13mpdxl\\\/hello_everyone\\\/\",\"created_at\":\"2023-05-20 11:27:25\",\"icons\":[]},{\"title\":\"CoinGecko \\ud83e\\udd8e just announced a Candy Rewards NFT raffle \\ud83c\\udf6c on NEAR!!\",\"author\":\"rahulgoel1995\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13lmbjo\\\/coingecko_just_announced_a_candy_rewards_nft\\\/\",\"created_at\":\"2023-05-19 05:43:41\",\"icons\":[]},{\"title\":\"Octaloop Is Bringing the India Blockchain Tour to Delhi, Powered by NEAR Foundation\",\"author\":\"Neelesh15\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13l4i3i\\\/octaloop_is_bringing_the_india_blockchain_tour_to\\\/\",\"created_at\":\"2023-05-18 17:01:40\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/18 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13l31p8\\\/nearweek_daily_newsletter_0518\\\/\",\"created_at\":\"2023-05-18 16:05:00\",\"icons\":[]},{\"title\":\"NEAR Protocol Partners with Wormhole to Launch Trustless NEAR &lt;&gt; ETH Corridor\",\"author\":\"azcoinnews\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13k4lqa\\\/near_protocol_partners_with_wormhole_to_launch\\\/\",\"created_at\":\"2023-05-17 15:14:33\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/17 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13k65f4\\\/nearweek_daily_newsletter_0517\\\/\",\"created_at\":\"2023-05-17 16:10:03\",\"icons\":[]},{\"title\":\"NEAR Integrates Wormhole technology\",\"author\":\"everstake_inna\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13jbyrk\\\/near_integrates_wormhole_technology\\\/\",\"created_at\":\"2023-05-16 17:44:54\",\"icons\":[]},{\"title\":\"Near Foundation Town Hall - May 17th, 3pm UTC\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13jodto\\\/near_foundation_town_hall_may_17th_3pm_utc\\\/\",\"created_at\":\"2023-05-17 02:11:23\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/16 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13jcdqo\\\/nearweek_daily_newsletter_0516\\\/\",\"created_at\":\"2023-05-16 18:00:51\",\"icons\":[]},{\"title\":\"Rep - A new Twitter like social network (with a pokemon Go twist) launching on top of NEAR very soon.\",\"author\":\"superfatman2\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13ir3ku\\\/rep_a_new_twitter_like_social_network_with_a\\\/\",\"created_at\":\"2023-05-16 01:30:46\",\"icons\":[]},{\"title\":\"Text Recap : AMA with Rogues studio!\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13itzqj\\\/text_recap_ama_with_rogues_studio\\\/\",\"created_at\":\"2023-05-16 03:42:06\",\"icons\":[]},{\"title\":\"\\ud83d\\udde3 Join us tomorrow May 16 at 2PM UTC \\ud83d\\udd51 for an insightful AMA with Learn Near Club - one of the most popular Dapps built on NEAR that powers an intuitive (L)Earn platform \\ud83e\\uddd1\\u200d\\ud83c\\udf93 The AMA will take place in the Near Telegram Community voice chat. Don't miss out! \\ud83d\\udca5\",\"author\":\"fiatisabubble\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13ihuat\\\/join_us_tomorrow_may_16_at_2pm_utc_for_an\\\/\",\"created_at\":\"2023-05-15 19:30:59\",\"icons\":[]},{\"title\":\"Weekly updates by Everstake\",\"author\":\"everstake_inna\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13i87hn\\\/weekly_updates_by_everstake\\\/\",\"created_at\":\"2023-05-15 13:23:19\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/15 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13ietiy\\\/nearweek_daily_newsletter_0515\\\/\",\"created_at\":\"2023-05-15 17:41:09\",\"icons\":[]},{\"title\":\"Hey Near Fam, I've just did a video about the project, Trading analysis, feel free to take a look :) Please write your opinion in the comments below :)\",\"author\":\"Key-Cell551\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13iabj6\\\/hey_near_fam_ive_just_did_a_video_about_the\\\/\",\"created_at\":\"2023-05-15 14:43:00\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/11\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13es5zk\\\/nearweek_daily_newsletter_0511\\\/\",\"created_at\":\"2023-05-11 16:25:11\",\"icons\":[]},{\"title\":\"?? What is NEAR HORIZON ??\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13eadhr\\\/what_is_near_horizon\\\/\",\"created_at\":\"2023-05-11 02:14:41\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/10 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13dv9jy\\\/nearweek_daily_newsletter_0510\\\/\",\"created_at\":\"2023-05-10 16:10:30\",\"icons\":[]},{\"title\":\"Ecosystem Showcase AMA with Rogues!\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13di9q7\\\/ecosystem_showcase_ama_with_rogues\\\/\",\"created_at\":\"2023-05-10 06:24:35\",\"icons\":[]},{\"title\":\"Read Marieke Flament's, CEO of the Near Foundation, article on how blockchain technology can play a role in making fairer and more trustworthy AI models \\ud83e\\udef6\",\"author\":\"fiatisabubble\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13dlkn4\\\/read_marieke_flaments_ceo_of_the_near_foundation\\\/\",\"created_at\":\"2023-05-10 09:40:58\",\"icons\":[]},{\"title\":\"Building a wallet for Aurora\",\"author\":\"cmptrwizard\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13dfjso\\\/building_a_wallet_for_aurora\\\/\",\"created_at\":\"2023-05-10 03:56:16\",\"icons\":[]},{\"title\":\"NEARWEEK Daily Newsletter 05\\\/09 \\ud83d\\udce9\",\"author\":\"DailyNEARWEEK\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13cywt1\\\/nearweek_daily_newsletter_0509\\\/\",\"created_at\":\"2023-05-09 16:46:29\",\"icons\":[]},{\"title\":\"Recordings of the Consensus Protocol Village talks with the NEAR Protocol, Pagoda, and Aurora Labs team!\",\"author\":\"ChiHa9\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/nearprotocol\\\/comments\\\/13cedud\\\/recordings_of_the_consensus_protocol_village\\\/\",\"created_at\":\"2023-05-09 03:41:57\",\"icons\":[]}]}","github":"{\"stars\":2053,\"watchers\":77,\"forks\":461,\"language\":\"Rust\",\"license\":\"GNU General Public License v3.0\",\"repo_name\":\"nearprotocol\\\/nearcore\",\"repo_link\":\"https:\\\/\\\/github.com\\\/nearprotocol\\\/nearcore\",\"public_repos\":60,\"bio\":\"https:\\\/\\\/github.com\\\/near\",\"type\":\"Organization\",\"username\":\"nearprotocol\",\"user_link\":\"https:\\\/\\\/github.com\\\/nearprotocol\",\"created_at\":\"2018-08-21 00:00:00\"}","telegram":"{\"title\":\"NEAR Protocol Official\",\"description\":\"NEAR is a builder's fastest path to market. Do things that you didn't think were possible on blockchain. This channel is for tech and product discussions. Announcements: t.me\\\/nearprotocolnews\",\"chat_id\":\"@cryptonear\",\"member_count\":47869}","domain":"{\"domain_rating\":77,\"ahrefs_top\":25505,\"traffic\":38626.26768481816,\"website\":\"https:\\\/\\\/near.org\"}"},"buy_page":null,"halving_page":null}" :fiat-currency="{"name":"United States Dollar","logo":"\/crypto-prices\/fiat-logos\/USD.svg","symbol":"USD","sign":"$","price":1}" >

NEAR Protocol (NEAR) Social Signals & Traffic Tracker

NEAR Protocol twitter
Twitter Stats
Visit Twitter

Followers

1.94%

Joined at Aug 21, 2018

Following

1,387

0.07%

Tweet count

7,886

0.65%

NEAR Protocol reddit
Reddit Stats
Visit Reddit

Subscribers

0.52%

Joined at Oct 18, 2018

Subreddit type

public

Moderators

29

0.00%

NEAR Protocol telegram
Telegram Stats
Visit Telegram

Members

0.92%

Title

NEAR Protocol Official

NEAR Protocol traffic
Website Traffic
Visit Website

Website Rating (DR)

77 / 100

0.00%

Ahrefs Rank

25,505

0.75%

Organic Traffic (mo.)

38,626

34.25%

NEAR Protocol github
GitHub Organization
Visit GitHub

Public repos

Created at Aug 21, 2018

Type

Organization

NEAR Protocol github
GitHub Public Repository
Visit GitHub

Stars

0.15%

Watchers

77

0.00%

Forks

461

0.44%

Language

Rust

These are the project's quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.

These are the project's quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project.

These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.

These are the project's quantitative metrics of its official Twitter account that can be used to trace regular or artificial Social activity & growth within the project.

These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.

These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.

Followers: 1,753,502

Subscribers: 14,179

Members: 47,869

Stars: 2,053

NEAR Protocol Price Statistics

NEAR Protocol Price
$1.61
Price Change 24h
-$0.0490
3.05%
24h Low / 24h High
$1.58 /
$1.66
All Time High
Jan 16, 2022 (1 year 4 months ago)
$20.42
92.14%
All Time Low
Dec 11, 2022 (5 months 1 week ago)
$0.3643
340.73%
Trading Volume 24h
$45,218,648
49.94%
Volume / Market Cap
0.0310
Market Dominance
0.13%
Market Rank
#39
Market Cap
$1,457,099,076
3.05%
Fully Diluted Market Cap
$1,605,404,156
3.05%

Live NEAR Price Analysis

The current real time NEAR Protocol price is $1.61, and its trading volume is $45,218,648 in the last 24 hours. NEAR price has plummeted by 3.05% in the last day, and decreased by 4.82% in the last 7 days. It’s important to note that current NEAR Protocol market capitalization is $1,457,099,076, Talking about circulating supply, NEAR has 907,621,343 coins. Currently, NEAR Protocol rank on the market is #39.

NEAR Protocol price today is 92.14% below all time high, and it is 340.73% above all time low.

All data and prices are updated in real-time. The most active and popular exchanges for buying or selling NEAR are Binance, Kucoin & Kraken. Find more crypto exchange options on our Crypto Exchange Tracker. The most secure hardware wallets for keeping your cryptocurrency safe are Ledger and Trezor.

What is NEAR Protocol (NEAR)?

The NEAR coin is the native token of the NEAR Protocol, which is an open-source blockchain. It functions as a cloud computing project that is managed by a community. Essentially, the project aims to solve the scalability and usability issues that other blockchains face. This includes improving throughput, interoperability, and transaction speeds.

Make sure to check the NEAR Protocol price chart above to see the live NEAR price.

Overall, NEAR's stated objective is to create a platform that is both secure and efficient enough to manage high-value assets. Besides, it allows developers to create decentralized applications (dApps) on top of the NEAR network.

NEAR Protocol is a Layer-1 blockchain, which means that it’s not built on another blockchain, it has its own base level. Usually, Layer-1 blockchains are known for having issues with scalability. However, NEAR Protocol aims to solve these issues.

Besides that, NEAR Protocol makes life easier for both newbies and developers. For example, it uses addresses that are easy to read for regular humans and creates dApps that have a similar registration process as the traditional apps do. By doing that, NEAR Protocol makes the complicated onboarding process much easier for beginners.

Talking about developers, NEAR Protocol provides them with modular components. This makes it possible for developers to roll out new token contracts or NFTs much faster. Besides that, the NEAR Protocol announced the availability of a JavaScript software development kit (JS SDK) in August 2022. It allows JavaScript programmers to enter the blockchain and Web3 space. This software makes smart contract creation much easier compared to the usual programming languages used for that.

Lastly, it’s important to mention that the Rainbow Bridge makes NEAR interoperable with Ethereum. It enables developers to use Ethereum assets and smart contracts on NEAR as well as send or receive ETH through the NEAR network.

The Story of the NEAR Protocol

The NEAR Protocol was developed by Erik Trautman, Illia Polosukhin, and Alexander Skidanov. The trio is pretty complex because it has an entrepreneur (Trautman), a former Google employee (Polosukhin), and a computer scientist (Skidanov).

Several winners from the International Collegiate Programming Contest (ICPC) are among the large and skilled NEAR Collective development team. According to the organization, some of the few large-scale sharded systems have been constructed by its members, which is what the protocol is trying to do as well.

On April 22, 2020, the NEAR Foundation introduced the Phase 0 mainnet of NEAR. In this phase, NEAR was run by employing a Proof-of-Authority consensus mechanism. Though later, during Phase 1, the NEAR Protocol started to involve the community in the decision-making processes.

However, the network didn't fully decentralize and become community-run until Phase 2 of the mainnet (the final version) launched on October 13, 2020.

How Does the NEAR Protocol Work?

One of the central solutions that Layer-1 blockchains employ is sharding. It's used to increase scalability and it works by splitting the network into discrete data sets called “shards”, which the network can then process in parallel.

The NEAR Protocol crypto project has its own version of the sharding mechanism called Nightshade. Similar to traditional sharding, this approach uses individual sets of validators to process transactions simultaneously across shards. However, unlike traditional sharding, the Nightshade method also creates chunks, which essentially are portions of upcoming blocks. Because of these chunks, a one-second block cycle is created, which allows NEAR Protocol to accomplish up to 100,000 transactions per second. At the same time, it manages to maintain extremely low transaction fees.

Apart from having its own sharding mechanism, the NEAR Protocol also has a custom Proof-of-Stake (PoS) consensus mechanism called Doomslug. The Doomslug mechanism employs two consensus rounds. When a block receives the first round of communication, it’s deemed to be finalized immediately. Rather than directly competing with one another based on stake, validators produce blocks alternatively. This allows the NEAR Protocol to have nearly instantaneous finality.

What is the Purpose of NEAR Coins?

Essentially, NEAR is a utility token. It allows NEAR token holders to develop and use dApps on NEAR. Also, NEAR tokens are used to pay fees for utilizing these dApps. There are two types of fees on the NEAR network – transaction fees and data storing fees (users pay for each kilobyte of space utilized by an account).

Transaction fees are determined based on the complexity of the transaction. The fees are established in what are known as "gas" accounting units. 70% of the transaction fees are burned to keep the NEAR token deflationary, while the remaining 30% are returned to contracts that participated in transactions.

Besides that, NEAR acts as a governance token by allowing holders to participate in the voting process while deciding on future technological developments of the protocol, resource allocation across the network, and participant rewards. One NEAR coin is equivalent to one vote.

Lastly, staking NEAR tokens allows holders to run validator nodes on the network and earn staking rewards. The stake size is based on the total amount of NEAR that is being staked at that moment, as well as the stakes made by other validators within the shard. The staking rewards are issued when validators execute transactions, create new blocks, and maintain the network overall. NEAR token holders can lend their tokens to staking pools that back validator rewards.

Also, don't forget to check out the aforementioned NEAR Protocol price chart to see the current (or previous) NEAR price.

Tokenomics of NEAR Coins

The max supply of NEAR coins is 1 billion, which was created with the Genesis block of the NEAR blockchain. However, each year, epoch incentives worth 5% of additionally issued supply are distributed to support the network. 4.5% of this incentive goes to validators, while 0.5% goes to the NEAR treasury.

Overall, the total supply of NEAR tokens was allocated for community sale, foundation endowment, early ecosystem, core contributors, backers, community grants, and operation grants. The percentage of the portions that each sphere received was ranging from 6.1% to 17.6%.

Besides, talking about the NEAR Protocol price, it should be noted that it’s prone to crypto market changes. This means that, as the whole crypto market fluctuates, so does the NEAR price. However, this is usually the case with most crypto assets because the whole market is almost never stable due to various internal and external aspects.

The Fund of NEAR Protocol

NEAR announced an $800 million fund dedicated to projects that aim at boosting the NEAR Protocol ecosystem's expansion on October 25, 2021. Proximity Labs dedicated $350 million to this fund.

NEAR concentrates on supporting teams that are actively innovating and redesigning the way people interact with money through decentralized finance. Additionally, NEAR seeks to find projects that focus on developing non-fungible tokens, decentralized autonomous organizations, and crypto-based games.

Out of the total amount of $800 million, $100 million was dedicated to the Startup Grant Pools. 20 businesses from these pools had a right to get $5 million each. Besides that, $250 million was dedicated to helping scale ongoing crypto projects.

What is the Sender Wallet?

The Sender Wallet is the first NEAR-based non-custodial mobile wallet. It was launched in August 2022. There is both an app and a browser extension for this wallet. It has multi-chain support, allowing all Ethereum-based chains and, of course, the NEAR chain. What can you do with it? You can send and receive various crypto assets (including NFTs), swap your assets on DEXs, as well as track the entire crypto market.

The wallet is just one of many ways the NEAR Protocol crypto project has been expanding since its mainnet launch in 2020.

What's NEAR Protocol trading volume in the last 24 hours?

NEAR has a trading volume of $45,218,648 in the last 24 hours.

What's NEAR Protocol highest price ever?

NEAR has a highest price of $20.42, which was reached on Jan 16, 2022 (1 year 4 months ago).

What's NEAR Protocol lowest price ever?

NEAR has a lowest price of $0.3643, which was reached on Dec 11, 2022 (5 months 1 week ago).

What are the best exchanges for buying and selling NEAR?

Currently, the most active and dominating exchanges for buying and selling NEAR Protocol are Binance, Kraken & Kucoin. The most popular NEAR Protocol trading pairs are NEAR/USDT (on Huobi Global ), NEAR/USDT (on Binance ), NEAR/USDT (on WhiteBIT ). Head to the Crypto Deal Directory to access custom & exclusive discounts, vouchers and welcome bonuses from the most popular exchanges.

What are the safest hardware wallets for keeping NEAR?

According to an in-depth review process and testing, Ledger and Trezor are one of the safest and most popular hardware wallet options for keeping NEAR Protocol. For exclusive discounts and promotions on best crypto wallets, visit Crypto Deal Directory.

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Current market Price of a specific cryptocurrency.

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The cryptocurrency's market Price changes in percent within the last 24 hours (1 day).

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The highest historical cryptocurrency value.

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The lowest historical cryptocurrency value.

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Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). It's similar to the stock markets' Free-Float Capitalization.

Market Capitalization = Circulating Supply x Current Price.

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Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). It's similar to the stock markets' Free-Float Capitalization.

Market Capitalization = Circulating Supply x Current Price.

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FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation.

FDMC = Max Supply x Current Price.

Note: if Maximum Supply is not available or limitless, Total Supply is used to calculate the value. FDMC will be undefined and marked as "--" if no form of Supply is available.

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FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation.

FDMC = Max Supply x Current Price.

Note: if Maximum Supply is not available or limitless, Total Supply is used to calculate the value. FDMC will be undefined and marked as "--" if no form of Supply is available.

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It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It's a direct cryptocurrency's supply & demand indicator, and is purely related to its market price.

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It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It's a direct cryptocurrency's supply & demand indicator, and is purely related to its market price.

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The current cryptocurrency Market Capitalization Dominance among all other cryptocurrencies in the market.

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The ratio of Volume and Market Capitalization values.

The ratio of Volume and Market Capitalization values.

Publicly circulating amount of specific cryptocurrency coins/tokens that were mined or issued to date, and are not locked/staked (are available to be traded publicly).

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Verified Data

NEAR Protocol project's Circulating Supply has been verified and is equal to:

Circulating Supply

907,621,343 NEAR

The absolute theoretical maximum number of coins/tokens that is coded and will ever exist in the cryptocurrency's lifetime. Similar to stock market's Fully Diluted Shares.

Note: Max Supply will be undefined and marked as "--" if project owners did not verify / provide any data.

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The quantity of all coins/tokens that have ever been issued (even if the coins are locked), minus all coins/tokens that have been removed from circulation (burned). The Total Supply is similar to stock market's Outstanding Shares.

Total Supply = All Issued Coins - Burned Coins.

Note: Total Supply will be undefined and marked as "--" if project owners did not verify / provide any data.

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Current price of NEAR Protocol is $1.61

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