NEAR Protocol (NEAR)
| Market Cap | $1,566,543,447 |
|---|---|
| Trading Volume | $240,531,657 |
| Volume / Market Cap | 0.1535 |
| Total Supply | 1,000,000,000 NEAR |
| Max Supply | 1,000,000,000 NEAR |
NEAR Protocol is currently trading at $1.8511, after a price change of 1.68% in the last 24 hours.
Ranked as cryptocurrency #32 by capitalization today, NEAR market cap is valued at $1,566,543,447. NEAR trading volume reached $240,531,657 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on NEAR coin price prediction page.
NEAR Coin Price PredictionWhat is Near?
Near is an open blockchain network that aims to solve the scalability issues faced by other crypto networks. It was introduced in July 2018 by Illia Polosukhin and Alexander Skidanov. This blockchain aims to be friendly towards developers and allow for the building of dapps. It maintains interoperability with Ethereum and can execute as many as 100,000 orders in each second. The native token of this network is known as NEAR.
This protocol implements a sharding mechanism to solve scalability issues. Usually, the different nodes on the chain execute orders, transfer authenticated orders and finished blocks to other nodes, and record the network’s history. Sharding divides the network into different pieces, so a particular node wouldn’t need to process the entire code. Thus, there are various shards working simultaneously, enhancing the network capacity.
Near follows a proof-of-stake model. Authenticators earn NEAR coins as incentives for running the nodes. In order to maintain their position, these individuals must have a certain number of coins staked. Holders can commit their coins to an authenticator with a decent reputation to get a cut of the incentive. After the acceptance of a deal, the coins are locked for at least 3 days.