NEAR Protocol
NEAR
$3.2594298595
-$4.6835717804 (-58.96%)
Past year
Volume (24H)
--
Circulating Supply
1.188B
Market Cap
$3.884B
About NEAR Protocol (NEAR)
NEAR Protocol is a smart contract capable, public Proof-of-Stake (PoS) blockchain that was conceptualized as a community-run cloud computing platform. Built by the NEAR Collective, NEAR was designed to host decentralized applications (dApps), and strives to compete with Ethereum and other leading smart contract-enabled blockchains like Solana and Polkadot. NEAR’s native token is also called NEAR, and is used to pay for transaction fees and storage. NEAR tokens can also be staked by token holders who participate in achieving network consensus as transaction validators.
NEAR Protocol is focused on creating a developer- and user-friendly platform. To accommodate this mission, NEAR has incorporated features like human-readable account names as opposed to only cryptographic wallet addresses, and the ability for new users to interact with dApps and smart contracts without requiring a wallet at all.
Projects building on NEAR include Mintbase, a non-fungible token (NFT) minting platform, and Flux, a protocol that allows developers to create markets based on assets, commodities, real-world events, and more.
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NEAR Protocol Cryptopedia articles
What are NFTs (Non-Fungible Tokens)?
Cryptopedia Staff • 5 min read
Portfolio Diversification: One of the Oldest Adages in Investing
Cryptopedia Staff • 4 min read
See more
Frequently asked questions
NEAR Protocol Token
The NEAR token is the native token on the NEAR blockchain. It is primarily used to pay transaction fees and used as collateral for storing data on the blockchain. NEAR also rewards several stakers in the blockchain with NEAR tokens. For these services, transaction validators receive a NEAR token reward every epoch that amounts to 4.5% of the total NEAR supply on an annualized basis.
Additionally, developers who create smart contracts receive a portion of the transaction fees that their contracts generate. The remainder of each transaction fee is burned, increasing the scarcity of the NEAR token. NEAR has also established a protocol treasury, which receives 0.5% of the total NEAR supply annually, for the purpose of reinvesting in the development of the ecosystem.
NEAR Protocol is capable of supporting tokens that are “wrapped” from other chains in addition to NFTs. NEAR has also launched a bridge with Ethereum, allowing users to transfer ERC-20 tokens from Ethereum to NEAR.
Recent NEAR Protocol (NEAR) Price Data
The price of NEAR Protocol has increased by 6.01% in the past 24 hours. The current price is $3.2594298595 per NEAR Protocol. The current circulating supply is 1.188B NEAR.
Last updated 2025/03/02 00:00 (UTC)