NEAR Protocol Price (NEAR)

NEAR Protocol (NEAR) is a layer-one blockchain designed to provide a scalable, developer-friendly environment for decentralized applications (DApps). It seeks to address common blockchain challenges such as slow transaction speeds and high fees by using innovative technology like sharding. NEAR Protocol introduces a user-friendly experience with human-readable account names, removing the complexity of traditional cryptographic wallet addresses. The protocol's consensus mechanism, known as "Doomslug," is designed to enhance security and efficiency while supporting interoperability with other blockchains.

NEAR Protocol utilizes Nightshade, a unique sharding mechanism designed to improve blockchain scalability. Nightshade enables validators to process transactions across multiple shards simultaneously, with each shard contributing a portion of the next block, referred to as "chunks." This approach seeks to increase transaction throughput, with the goal of supporting up to 100,000 transactions per second while maintaining low transaction costs. NEAR also incorporates human-readable addresses and a familiar user interface, simplifying the process of interacting with blockchain-based applications.

NEAR Protocol provides a foundation for various decentralized applications, spanning DeFi, NFTs, and enterprise solutions. It supports platforms like Flux, a protocol for creating prediction markets, and Mintbase, an NFT minting platform. The network’s high throughput and low fees make it suitable for applications requiring fast, scalable transactions. NEAR tokens are used for processing transactions, staking to secure the network, and governance participation, allowing token holders to vote on protocol upgrades and resource allocation.

NEAR Protocol was founded by Erik Trautman, Illia Polosukhin, and Alexander Skidanov. Trautman is an entrepreneur with experience in finance and education, Polosukhin previously worked at Google, and Skidanov has a background in software engineering at Microsoft and MemSQL. The team includes developers with expertise in high-performance computing and algorithmic programming. NEAR Protocol launched its mainnet in April 2020, with the NEAR Foundation overseeing its development and ecosystem growth.

We update our NEAR Protocol to USD currency in real-time. Get the live price of NEAR Protocol on Coinbase.

The current market cap of NEAR Protocol is $3.10B. A high market cap implies that the asset is highly valued by the market.

The all-time high of NEAR Protocol is $20.37. This all-time high is highest price paid for NEAR Protocol since it was launched.

Over the last 24 hours, the trading volume of NEAR Protocol is $214.92M.

Assets that have a similar market cap to NEAR Protocol include Uniswap, Aptos, Monero, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of NEAR Protocol is 1.2 billion.

NEAR Protocol ranks 12 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

Currently, 95% of Coinbase users are buying NEAR Protocol. In other words, 95% of Coinbase customers have increased their net position in NEAR Protocol over the past 24 hours through trading.

Yes, NEAR Protocol is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy NEAR Protocol guide.