Buy NEAR (NEAR) in India at ₹137.06

Follow these steps to buy the NEAR coin on the CoinSwitch App:

• Log in to the CoinSwitch App using biometric authentication or your personalized PIN code.

• Locate the search button on the top right hand corner of the home screen and then type in “NEAR.”

• Click on the coin once the name pops up.

• Navigate your way to the “Buy” button on the lower left corner of the screen.

• Select the type of order you are interested in from the three options on display: Instant, Limit, or a Systematic Investment Plan.

• Enter the INR amount you want to invest in the crypto.

• Preview your order and click Buy.

If you have enough funds in your CoinSwitch App, the transaction will go through, and you will receive confirmation very soon. Your investment will then be recorded in the relevant Portfolio section of the app, on the ribbon at the bottom.

NEAR protocol was spearheaded by developer Alexander Skidanov and Artificial Intelligence researcher Illia Polosukhin. Skidanov started his career at Microsoft in 2009. Polosukhin, on the other hand, has more than 10 years of industry experience in technology. He spent three years at Google, where he was a major contributor to the development of the core search code.

The NEAR protocol is unique because it uses advanced sharding technologies that can be used to scale its network infinitely.

The blockchain is similar to the “cloud-based” infrastructure that software developers develop applications, but the cloud is no longer controlled by a single company running a large data centre.

The coin has multiple utilities, which make it special. It is used:

• To pay transaction fees

• For staking

• To become a validator

• Within the dApps that the NEAR

• Protocol is used to create

Current there are 812,963,867 NEAR coins in circulation.

The NEAR protocol uses the Proof-of-Stake mechanism of validating transactions. So users have to stake their NEAR coins to earn the right to verify transactions. Since nodes are incentivizes for good actions like staking and penalties applied for bad actions, the security of the blockchain is ensured to a large extent.

To further decentralization and security, a block generation mechanism called Doomslug is used. Doomslug works by having a set of participants take turns to produce and broadcast blocks on the chain. Once a certain height is reached, the participant generating the block gets changed and another one takes their place.