Near Protocol (NEAR) is a layer-one blockchain that aims to solve the problems of slow transaction rates, limited throughput, and poor compatibility. The Near Protocol (NEAR) is a decentralized application platform that can revolutionize systems, develop applications and change how users utilize the web in general.
How Does Near Protocol (NEAR) Work?
NEAR is a community-run cloud infrastructure for the deployment and operation of decentralized applications. It offers the characteristics of both a decentralized database and a serverless computation platform. The token that allows this platform to function also allows apps built on top of it to interact in novel ways.
It’s a complicated technology with a singular objective which is to make it easy for engineers and innovators to create products that safeguard high-value assets like money and identity while also being performant and useful for users.
NEAR is designed from the bottom up to give end-users with simple interactions, scale capacity over millions of devices, and enable developers with new and sustainable monetization models for their apps. As a result, NEAR is constructing the world’s first community-run cloud capable of increasing the breadth of Open Finance and ensuring the future of the Open Web.
It is a blockchain-based decentralized application platform that is arranged to be permissionless, highly functional, and safe enough to produce a powerful and decentralized data layer for the future web, and it operates on hundreds of servers globally.
NEAR is fundamentally a platform for hosting apps that have access to a shared and secure pool of money, identity, and data that their users control. In terms of technology, it integrates partition-resistant networking, serverless computation, and distributed storage into a novel system.
Use Cases of the Near Protocol (NEAR) Token
The NEAR token is the ecosystem’s primary native asset, and all accounts have access to it. Each token, identical to Ether, is a one-of-a-kind digital asset that may be used to:
- For completing transactions and keeping data, you must pay the system.
- Participate in the staking procedure to run a validating node as part of the network.
- Participating in governance procedures can help influence how network resources are distributed and where the network’s future technological direction will go.
The NEAR token facilitates the economical synchronization of all network members, as well as novel behaviors among the apps created on top of the network.
Participating in development bounties, operating a community that enables people to build on NEAR, winning a NEAR hackathon, or being an active member of the community are all ways to earn the NEAR token.
Near Protocol (NEAR) Tokenomics
The total and maximum token supply of NEAR tokens is 1,000,000,000 while the current circulating supply is 599,351,223.00 NEAR.
Near Protocol (NEAR) Price
Near Protocol (NEAR) is now trading at around $13.73, as of Dec. 29, 2021. Its 24-hour trading volume on exchanges is around $710,275,838.
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