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Near Protocol (NEAR) is a tier 1 blockchain that aims to solve problems low transaction speed, limited bandwidth and poor compatibility.
Near Protocol (NEAR) is a decentralized application platform whose developers want to revolutionize blockchain networks and change the way people use the Internet today.
How does Near Protocol (NEAR) work?
NEAR is community-driven cloud infrastructure for the deployment and operation of decentralized applications. It offers the characteristics of both a decentralized database and a serverless computing platform. The token that allows this platform to function also allows applications built on top of it to interact in new ways. It is a complex technology with a single purpose – make it easier for engineers and innovators to create products that protect valuable assets, such as money and personality, and are effective and useful to users.
NEAR is designed to Provide end-users with a simple experience, scale the space to a million devices and provide developers with new and sustainable monetization models for their applications. As a result, NEAR is building the world’s first community-driven cloud capable of expanding the capabilities of Open Finance and enabling the future of the Open Web.
This a decentralized blockchain-based application platform, the goal of which is to create a secure environment for creating a powerful and decentralized level of storage and use of data for WEB 3.0. NEAR is, by essentially a platform for hosting applications, who have access to a shared and secure pool of money, personal data and data that their users control. In terms of technology, it integrates partition-resistant networking, serverless computing, and distributed storage into a new system.
Unique Protocol Near (NEAR) Features
Developers focus on usability
Developers will create only those the apps their consumers will actually use… By delaying onboarding, eliminating the need for users to understand blockchain ideas, and limiting the number of interactions with permission requests that the user must participate in, the application can be made more user-friendly. Near Protocol follows approachfocused on the convenience of use which promotes its “progressive security” model and allows developers to create experiences for their users that more closely resemble familiar web interfaces.
This means that the Near offers easy connectivity, easy subscriptions, familiar use styles and predictable prices for their user to make it more “usability oriented” as stated in their whitepaper.
Separation approach
NEAR uses a segmentation strategy, which allows you to increase the network bandwidth as more nodes are connected. When the network load is high enough, the network nodes are dynamically split into multiple segments, and the computation are parallelized in these segments… With this method, the network can grow and shrink based on demand. To grow a prospective protocol should separate both state and processing… Without widespread use of the platform, no computer would be able to store or verify all information or transactions on the network. NEAR protocol optimizes speedassuming that transactions will touch multiple segments by default, which is the most likely behavior for arbitrary smart contracts.
New business model and emphasis on “real” decentralization
To maintain true decentralization, the network must provide unauthorized interactions with potential node operators, rather than incentivize pooling. To overcome these problems, NEAR Protocol uses a betting method known as “proof of stake threshold” which should be both predictable and generally fair, avoiding pooling powerful validators and encouraging broad node participation. Lowering barriers to entry for nodes can do more than just decentralize the network. The more nodes can join a dynamically scalable system such as NEAR, the more it can grow. NEAR also allows developers and businesses to monetize their infrastructure in a safer, less invasive and legal way. When calling a contract part of the network fees are immediately assigned to him and can be revoked by the creator of the contract.
It encourages early infrastructure development and also provides a commercial model for application and infrastructure developers to profit from their work without having to create their own reckless tokens.
Near Protocol (NEAR) Token Use Cases
The NEAR token is the main proprietary asset of the ecosystem and all accounts have access to it. Each token identical to Ether is a unique digital asset that can be used to:
- The system has to pay for transactions and data storage.
- Participate in a staking procedure, to run the testing node as part of the network.
- Participation in governance procedures can help influence how network resources are allocated and where the future technological direction of the network will go.
Token NEAR facilitates cost-effective synchronization of all network membersas well as new behavior for applications built on top of the web. Participation in developer contests, community management that allows people to develop NEAR, victory in the NEAR hackathon or being actively involved in the community are all ways to earn NEAR token.
Токеномика NEAR
The total and maximum supply of NEAR tokens is 1,000,000,000, c while the current amount in circulation is 599 351 223,00 NEAR. A detailed description of the project’s tokenomics can be found on its official website.
Near Protocol (NEAR) Price
As of January 12, 2022, Near Protocol (NEAR) is trading at about $18,25. Its 24-hour trading volume on exchanges is around $ 1.5 million.
Near Protocol (NEAR) Price Forecast and Future Outlook
It should be noted that NEAR Protocol was founded by a former Wall Street guy with extensive entrepreneurial experience for shoulders, and its co-founders Ilya Poposukhin and Alexander Skidanov worked at Google and Microsoft, respectively. With business people and engineers at the helm of NEAR Protocol, investors are highly motivated to invest in this project, which explains the tremendous growth that Near Protocol has shown since its inception. The NEAR token was launched at the end of 2020, and since then, its value has grown by more than 2500%, reaching a record high of $ 18.73reached on January 12, 2022.
Looking at the NEAR chart, one can see that in the bear market after May 2021, the NEAR token has shown linear growth and a significant spike this month, as the token value, which hovered around $ 8, more than doubled, above $ 18.
The token attracted the attention of investors after, despite the collapsed market, it continued to gradually increase the price. It is difficult to predict the movement of its course further, because we are talking primarily about cryptocurrencies, which are famous for their volatility. However, NEAR has a good base and a technological component – this token will be used as the ecosystem develops, on which the developers are working.
Remember, before any investment, you must carefully study the project in which you enter and refer to the technical indicators.
Posted by Newt Salamander, Analyst at Freedman Club Crypto News
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