Home » Crypto » What is Near Protocol coin (NEAR) and how does it work?

What is Near Protocol coin (NEAR) and how does it work?

by Financial Economy

Near Protocol is a decentralized application platform designed to make applications available on the web. The created network works on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to provide scalability and fixed fee options. Detailed information about what is Near Protocol coin NEAR and how does it work, Near Protocol comments, how to get Near Protocol, etc. is located in the continuation of the content. You can browse here for information about Waves coin.

What is Near Protocol coin (NEAR) and how does it work?

NEAR Coin is a token of Near Protocol. The NEAR token economy was developed by the NEAR token, a unit of value on the platform that allows token holders to use applications within the NEAR network, influence network governance, and earn token rewards through network staking.

NEAR coin can work with Ethereum blockchain. NEAR uses a sharding mechanism called Nightshade and a block generation mechanism, Doomslug, to process over 100,000 transactions per second. Within the NEAR network, transaction fees are minimal and use a special unit of measure called “yocto” to determine the amount. NEAR is a delegated blockchain that uses sharding to better optimize performance.

Looking at the NEAR coin comments, it is seen that it is considered as a coin that is not very balanced due to price movements. However, Near Protocol in particular is considered promising. Because the platform allows even those without Blockchain knowledge to build applications on Blockchain. NEAR Protocol was developed by two experienced programming names, Alex Skidanov and Illia Polosukhin.

The total supply of the Near Protocol coin in the market is around 1.00K as of today (19.06.2021). In addition, as of 19.06.2021, the value of the Near coin is around $3.18. Near Protocol coin can be purchased on trusted and well-known crypto currency exchanges.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

Related Posts

Leave a Comment