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Live NEAR/INR Price
₹239.61
4.18%
Price Changes
₹10.02
4.18%
24h Low
₹227.31
24h High
₹244.84
Quantity
NEAR
Price
INR
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Curve dao token
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Io.net
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Rocket pool
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AT
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Uniswap
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F
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STORJ
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Joe
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Ethena
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Initia
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Particle network
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Bubblemaps
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My neighbor alice
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Og fan token
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Lagrange
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Griffain
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Just a chill guy
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Vulcan forged (pyr)
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Voxies
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Theta network
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Eigenlayer
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Arweave
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Axie infinity
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Doublezero
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Non-playable coin
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Akash network
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Chiliz
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Safepal
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Kamino finance
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Apecoin
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1inch
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Elrond
MET
Meteora
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Zama
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Basic attention token
GLM
Golem
MEMEFI
Memefi
The NEAR protocol is a Layer-1 blockchain used to help develop decentralized apps (dApps). Layer-1 chains such as this one work independently of other chains. Near Protocol’s white paper describes its goal as allowing “developers and entrepreneurs to easily and sustainably build applications which secure high value assets like money and identity.”
Not feeding off other chains translates into faster transactions and simpler onboarding of new users for NEAR.
The NEAR protocol can also be used to develop dApps. The protocol’s designed simplifies the development of new technology and makes the process more efficient. Hundreds of unique projects are already creating dApps on NEAR.
It supports some of the most popular programming languages including JavaScript.
• The NEAR coin is the native token for the Near network. It serves as a mode of payment for processing transactions and storing data. It is also used to run a validating node as part of the network by participating in the staking process.
• The token also finds use in governance processes. That means it gives holders the right to determine how network resources are allocated and where its future technical direction will go. The NEAR token thus enables the coordination of all participants on the network.
• Finally, NEAR is also used as part of new behaviors among the apps that are built on top of this network.
The NEAR protocol was co-founded by Alexander Skidanov and Illia Polosukhin. The former began his career in 2009 at Microsoft. Polosukhin, on the other hand, has over 10 years of industry experience in technology, three of which were at Google. During his time there, he made significant contributions to developing the core Google search code.
Here are some of the ways in which you can use the NEAR protocol coin:
• Payment of transaction fees: All transactions which occur on the NEAR blockchain must be paid for using NEAR. Due to the Proof-of-Stake (PoS) nature of the transaction validation mechanism, these transaction fees are often very low—lower than other chains like Bitcoin.
• Staking: PoS ecosystems, by design, are equipped to stake NEAR coins on the chain. This helps users earn indirect NEAR rewards over the short and long term.
• Getting the chance to act as a validator: To become a validator on the network, you will need to stake NEAR coins.
• dApps: The NEAR token can also be leveraged in a number of ways within the decentralized apps the protocol is used to create.
• The NEAR protocol employs advanced sharding technologies. These technologies are used to scale its network infinitely. This, however, cannot be said for the average blockchain.
• NEAR is completely open-source and decentralized.
• The NEAR blockchain is, in principle, similar to the “cloud-based” infrastructure that software developers currently already use to develop applications. Only in this case, however, is the cloud no longer controlled by a single company running a large data centre.
• As much as 35% of the token supply is currently held by project insiders, which is compounded by partial on-chain governance. Eventual centralization, hence, is still a point of concern.
Now you can use the CoinSwitch app to trade NEAR coins with hundreds of other cryptos. Visit our website to download the app and start trading today!
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1. What is the near coin?
NEAR Protocol is a layer-one blockchain platform designed to provide a decentralized, developer-friendly environment for building decentralized applications (dApps). Its native cryptocurrency, known as NEAR, serves multiple functions within the ecosystem, including transaction fees, staking for network security, and governance participation.
2. Is NEAR Protocol an AI coin?
While NEAR Protocol is not inherently classified as an “AI coin,” it has recently made significant strides in integrating artificial intelligence into its ecosystem. In May 2024, NEAR launched NEAR AI, a research and development lab focused on decentralized AI, led by co-founder Illia Polosukhin, who is also a co-creator of the Transformers AI architecture. Additionally, the NEAR Foundation introduced an AI-focused incubator and investment wing to support AI projects within the NEAR ecosystem.
3. Who Are the Founders of NEAR Protocol (NEAR)?
The founders of NEAR Protocol are Alexander Skidanov and Illia Polosukhin. Skidanov, with a background in software engineering, previously held positions at Microsoft and co-founded NEAR to create a scalable, secure, and user-friendly decentralized application platform. Polosukhin, also a software engineer, has experience at Google and has contributed to significant AI research, including the development of the Transformers architecture.
NEAR Price Today
NEAR Price
₹239.61
Price Change 24h
4.18%
Price Change 7d
4.08%
Market Rank
#29
Market Cap
₹28,545 Cr.
Trade Vol 24h
₹2,176 Cr
Circulating Supply
₹131 Cr. NEAR
Trading Activity
67% Buy33% Sell
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
