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NEAR Protocol

NEAR

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Market

Market stats

Market cap

$2.0B

Volume (24h)

$120.7M

Circulating supply

1.0B NEAR

Typical hold time

35 days

Popularity

#36

All time high

$20.42

Price change (1h)

-0.5%

Price change (24h)

+6.35%

Price change (7d)

+7.88%

About NEAR Protocol

NEAR is the native token of the NEAR Protocol, a highly scalable blockchain network that provides a developer-friendly, decentralized application platform. NEAR tokens are used to pay network fees and can be staked to enhance network security.

What is NEAR Protocol?

NEAR Protocol (NEAR) is a layer-one blockchain that functions as a community-run cloud computing platform. It aims to address challenges such as slow transaction speeds, low throughput, and limited interoperability that have been a hurdle for other blockchains. NEAR Protocol provides a conducive environment for decentralized applications (DApps) and aims to create a platform that is both developer and user-friendly. For instance, NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to other platforms. NEAR Protocol also introduces unique solutions to scaling problems and has its own consensus mechanism known as "Doomslug."

How does NEAR Protocol work?

NEAR Protocol utilizes its Nightshade technology with the aim of enhancing transaction throughput. Nightshade is a variant of sharding, where individual sets of validators process transactions in parallel across multiple sharded chains, thereby aiming to improve the overall capacity of the blockchain. Unlike traditional sharding, shards in Nightshade produce a fraction of the next block, referred to as "chunks." This allows NEAR Protocol to strive for up to 100,000 transactions per second and near-instant transaction finality with a one-second block cadence, while aiming to keep transaction fees low. NEAR Protocol also simplifies the onboarding process of other blockchains by using human-readable addresses and building decentralized applications with a similar registration flow to what users are already familiar with.

What are the potential use cases for NEAR Protocol?

NEAR Protocol is designed with the aim of managing high-value assets and making them accessible for everyday people. It provides a platform for the development of various projects. For instance, Flux, a protocol that enables developers to create markets based on assets, commodities, and real-world events, and Mintbase, a platform for minting non-fungible tokens (NFTs), are examples of projects being built on NEAR Protocol. The NEAR token is intended to be used for processing transactions and storing data, running validator nodes on the network via staking NEAR tokens, and for governance votes to determine how network resources are allocated.

What is the history of NEAR Protocol?

NEAR Protocol was founded by Erik Trautman, Illia Polosukhin, and Alexander Skidanov. Trautman is an entrepreneur with Wall Street experience and the founder of Viking Education. Polosukhin has over a decade of industry experience, including three years at Google. Skidanov is a computer scientist who worked at Microsoft and later joined memSQL, where he became the director of engineering. The NEAR Protocol team includes several International Collegiate Programming Contest (ICPC) gold medalists and winners. The protocol was launched on April 22, 2020. The NEAR Foundation, a Swiss-based non-profit, is dedicated to protocol maintenance, ecosystem funding, and guiding the protocol's governance.

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Social

Some highlights about NEAR Protocol on social media

83 unique individuals are talking about NEAR Protocol and it is ranked #154 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, NEAR Protocol has an average sentiment score of 0.2 out of 5. Finally, NEAR Protocol is becoming less newsworthy, with 1 news articles published about NEAR Protocol. This is a 100% decrease in news volume compared to yesterday.

On Twitter, people are mostly neutral about NEAR Protocol. There were 22.05% of tweets with bullish sentiment compared to 0% of tweets with a bearish sentiment about NEAR Protocol. 77.95% of tweets were neutral about NEAR Protocol. These sentiments are based on 127 tweets.

On Reddit, NEAR Protocol was mentioned in 0 Reddit posts and there were 0 comments about NEAR Protocol. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.

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Overview

Contributors

83 people

Posts

127 posts

Dominance

0.01%

Volume rank

#154

Average Sentiment

0.2 out of 5

News Articles

1

Twitter

Coinbase Bytes

Near Protocol

Silver linings: crypto tech innovation keeps pace despite downmarket

COINBASE BYTES • DEC 07, 2022

NEAR Protocol has partnered with one of Latin America’s largest food companies for a blockchain-based loyalty program. 
    The Near Foundation announced a partnership with Grupo Nutresa for an open-source loyalty program that uses NEAR’s carbon-neutral blockchain. Grupo Nutresa, which sells products in 78 countries, will streamline its disparate collection of existing loyalty programs into a single one supported by NEAR wallet.
    The new program is expected to launch early next year, with a goal of reaching one million users across Latin America.

Coinbase Bytes

The week’s biggest crypto news, sent right to your inbox

NEAR Protocol is on the rise this week.

The price of NEAR Protocol has risen by 7.88% in the past 7 days. The price increased by 6.35% in the last 24 hours. In just the past hour, the price shrunk by 0.50%. The current price is $2.00 per NEAR. NEAR Protocol is 90.23% below the all time high of $20.42.

The current circulating supply is 1,003,373,422 NEAR.

FAQ

What is the current price of NEAR Protocol?

We update our NEAR Protocol to USD currency in real-time. Get the live price of NEAR Protocol on Coinbase.

What is the market cap of NEAR Protocol?

The current market cap of NEAR Protocol is $2.00B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of NEAR Protocol?

The all-time high of NEAR Protocol is $20.42. This all-time high is highest price paid for NEAR Protocol since it was launched.

What is the 24 hour trading volume of NEAR Protocol?

Over the last 24 hours, the trading volume of NEAR Protocol is $120.73M.

What other assets are similar to NEAR Protocol?

Assets that have a similar market cap to NEAR Protocol include Lido DAO Token, Filecoin, Internet Computer, and many others. To see a full list, see our comparable market cap assets.

How many NEAR Protocol are there?

The current circulating supply of NEAR Protocol is 1 billion.

What is the typical holding time of NEAR Protocol?

The median time that Coinbase customers hold NEAR Protocol before selling it or sending it to another account or address is 35 days.

What is the relative popularity of NEAR Protocol?

NEAR Protocol ranks 16 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of NEAR Protocol?

Currently, 95% of Coinbase users are buying NEAR Protocol. In other words, 95% of Coinbase customers have increased their net position in NEAR Protocol over the past 24 hours through trading.

Can I buy NEAR Protocol on Coinbase?

Yes, NEAR Protocol is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy NEAR Protocol guide.

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