NEAR Coin price Prediction – All about Near Protocol – Review and Chart 2022
NEAR Coin Price Prediction 2024
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The fixture of the cryptocurrency industry, Ethereum has always found a competitor. Near Protocol, one of the most powerful projects among them, is making a name for itself with its rise from time to time. People who are interested in crypto want to know all the details about NEAR Protocol by asking questions such as Near Coin , does it have a future, its project. You will find the clearest information about Near Coin from this content.
Near Coin Project
Near Protocol project, It was created to bring all kinds of applications to the applicable level on the internet, and it is also a decentralized application (dApp) platform. It is also a competitor to Ethereum, which focuses on being developer and user friendly.
The created network works on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to provide scalability and flat fee options. Native NEAR tokens are used to pay for transaction fees and storage on the NEAR crypto platform. NEAR is a Proof-of-Stake consensus blockchain that uses sharding technology to achieve scalability. It is a Proof of Stake blockchain.
The native token of Near Protocol is also called NEAR. NEAR Token is used to pay for transaction fees and storage. NEAR tokens can also be staked by token holders who participate in maintaining network consensus as transaction validators. NEAR also rewards several stakeholders in the blockchain with NEAR tokens. Transaction validators receive a NEAR token reward per epoch, corresponding to 4.5% of the total NEAR supply on an annual basis, for their services.
The NEAR token works for features such as recording transactions and data storage fees, running validation nodes on the network by staking NEAR tokens, and using it in governance voting to determine how network resources should be allocated.
In addition, developers who create smart contracts receive a portion of the transaction fees their contracts generate. The remainder of each transaction fee is burned, reducing the supply of the NEAR token. NEAR has also established a protocol treasury that takes 0.5% of the total annual supply of NEAR to reinvest in the development of the ecosystem.
NEAR Protocol can support “Wrapped” tokens from other chains in addition to NFTs.
To fulfill this task, NEAR has combined features such as human-readable account names as opposed to purely crypto wallet addresses, and the ability for new users to interact with dApps and smart contracts without requiring a wallet.
Projects built on Near. Among them are Mintbase, the NFT minting platform, and Flux, a protocol that allows developers to build markets based on assets, commodities, real-world events, and more.
As DApps grow in popularity, the crypto community is a growing one. faced with the problem of scalability. In this context
, scalability refers to the ability of a blockchain to process large numbers of transactions at reasonable speed and cost. Ethereum faced particular scalability challenges due to the high demand for its use, and while some people advocated building scaling solutions on top of Ethereum (Layer 2 solutions), other projects like NEAR decided to create entirely new blockchains.
NEAR Protocol’s proposed solution to this scalability problem is the implementation of sharding.
Transactions are executed on the blockchain, they forward verified transactions and completed blocks to other nodes and store the state and history of the entire network. As network congestion increases, these tasks become more and more demanding on nodes. NEAR_Coin _Receiving
NEAR Protocol Whose?
Whose question is NEAR Protocol? way we can answer. Former Microsoft employee Alexander Skidanov and Google’s artificial intelligence (AI) employee Illia Polosukhin are co-founders of NEAR Protocol.
When NEAR Protocol Released? h2>
Created as a competitor to Ethereum, NEAR Protocol officially began creating the NEAR Protocol in August 2018. The founding vision of the NEAR platform was to provide developers with an easy way to build decentralized applications that scale to mass use.
Near founders
How Many Dollars Did Near Coin See?
Near Coin , one of the shining stars of the crypto money market, saw a maximum of $ 20.42.