What is NEAR Protocol (NEAR)?

NEAR Protocol is a public blockchain network that aims to rival Ethereum. Like other layer-1, it boasts speed, low transaction cost, and scalability. In fact, it claims to be able to process up to 100,000 transactions per second, a much higher rate than other networks. This makes NEAR Protocol very promising as a mass-used blockchain. However, that potential has not been realized yet.

NEAR Protocol was founded in 2017 by Alex Skidanov and Illia Polosukhin. Fundraising events of NEAR Protocol attracted such investors as Andreessen Horowitz, FTX Venturs, and Pantera Capital

How NEAR Protocol (NEAR) Works

NEAR Protocol is a Proof-of-Stake blockchain that utilizes sharding, a method of partitioning data for faster and more efficient processing. The implementation of these two technologies allows NEAR Protocol to achieve great speed and scalability.

On the other hand, the network develops special solutions to facilitate interoperability with Ethereum. The first one is Rainbow Bridge, a bridge that enables users to easily transfer assets between the two chains. The other solution is Aurora, a layer-2 network developed on NEAR Protocol, allowing Ethereum dapps to operate on the said network.

How Many NEAR Protocol (NEAR) Tokens Are in Circulation?

NEAR is the native token of NEAR Protocol. Since the network is a PoS blockchain, NEAR is needed to become a node. Notably, developers who create smart contracts on the blockchain earn a part of transaction fees, which encourages the growth of the whole ecosystem.

NEAR's total supply: 1,000,000,000

NEAR's circulating supply: 812,963,867

How to Buy NEAR Protocol (NEAR)

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Futures market

NEARUSDT

Spot market

NEARUSDT

NEARUSDC

NEAR Protocol (NEAR) Resources

Official Website

Official Documents

NEAR Wiki

NEAR University

Aurora Website