A decade ago, few people could explain what blockchain and cryptocurrency are. Today, however, in addition to the world-famous bitcoin, there are a large number of alternative blockchains, and coins created specifically for them. NEAR cryptocurrency protocol, with its own NEAR token, is one of these.
NEAR is the native cryptocurrency of the blockchain of the same name, the popularity of which is growing day by day. At the same time popularity, the NEAR coin price is increasing.
As mentioned above, it is based on the Near Protocol network blockchain. As the lifeblood of this network, it has several different uses.
Provides security to the network.
Plays the role of a unit of account and medium of exchange.
Seeks to become a means of savings used by individuals.
The NEAR Economy is designed to make the NEAR Protocol network secure but inexpensive to use, even as it scales.
NEAR Protocol is led by two developers, Alexander Skidanov and Ilya Pololokhin. Team in 3 years has gone the hard way from a simple two-person startup in San Francisco to a large company. Even Vitaly Buterin, the founder of Ethereum in May 2020 expressed fears that the NEAR project could be a threat to Ethereum.
It is incredibly fast. It can process around 100,000 transactions per second (tps) and reaches transaction completion almost instantly thanks to 1-second block creation. NEAR says their transaction cost can be 10,000 times lower than on Ethereum.
The token is also designed for those who know next to nothing about blockchain. NEAR has a convenient system of accounts and access keys. In addition, it provides developers with a number of modular components to help them get their projects up and running quickly. These include examples of non-interchangeable token (NFT) implementations, smart contracts, and full-fledged DApps.
Near market value is much higher than the price of most alternative tokens, currently exceeding the $10 threshold.
In addition, among blockchain developers, it is considered a project that definitely deserves attention. Ultra-fast and cheap transactions, extensive functionality, and freedom of development - all this allows creating applications that will be useful and convenient for users. Full compatibility with Ethereum is also of great importance, so it is not difficult to switch from ether to NEAR or vice versa. From an investment point of view, the cryptocurrency also looks promising, as evidenced by the $1.8 billion already invested in it. All these events have a positive effect on the NEAR crypto price.
Many large funds have invested in NEAR, such as a16z, Coinbase Ventures, Pantera Capital, Multicoin Capital, Electric Capital, Dragonfly Capital, and others.
This token can be bought on almost all popular exchanges. When choosing the right platform for NEAR token sale, remember that different platforms have different levels of security, reliability, and liquidity. For these reasons, research their characteristics before creating an account.
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