Buy Near Protocol (NEAR)
What is NEAR Protocol?
NEAR Protocol is a sharded, proof-of-stake, layer-one blockchain network designed to be simple, secure, and scalable. It functions as a community-run cloud computing platform for decentralized applications (dApps), aiming to deliver high-speed transactions, scalability, and easy user access to open finance networks.
How does NEAR Protocol work?
NEAR Protocol operates using a sharded, proof-of-stake (PoS) blockchain architecture. It distributes its processing load across multiple parallel chains (shards), enhancing speed and scalability. The consensus mechanism involves PoS with a specific algorithm called Nightshade. Smart contracts on NEAR are compatible with the Web Assembly Virtual Machine (WASM), Rust, and JavaScript SDK, allowing for communication with external applications. The protocol also supports interoperability through the Rainbow Bridge for seamless interaction with Ethereum.
What are the potential use cases for NEAR Protocol?
NEAR Protocol can be utilised across various sectors such as Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), and decentralized applications (dApps). It facilitates the creation and management of DAOs (Decentralized Autonomous Organizations), scalable gaming solutions, and cross-chain interoperability. Additionally, NEAR is used in industries like financial services, digital art, gaming, social media, and healthcare.
What is the history of NEAR Protocol?
NEAR Protocol was founded by Alexander Skidanov and Illia Polosukhin in 2017. Initially beginning as a machine learning project (NEAR.ai), it transitioned to blockchain development in 2018. Key milestones include the launch of the NEAR mainnet in 2020, the introduction of sharding for scalability, development of the Doomslug consensus mechanism, and the creation of Aurora, an EVM-compatible layer 2 scaling solution. The NEAR Foundation, established in 2019, supports the protocol’s ecosystem growth.
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Frequently Asked Questions (FAQs)
What is the current price of Near Protocol (NEAR)?
The Near Protocol price is $8.0017 AUD, representing a -11.89% from the day prior.
Where is the best place to buy Near Protocol (NEAR) in Australia?
The best place to buy Near Protocol (NEAR) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Near Protocol (NEAR) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Near Protocol (NEAR)?
The trading volume of Near Protocol (NEAR) is $2.7B AUD in the last 24hrs, representing a -11.89% from the day prior.
How can I buy Near Protocol (NEAR)?
Near Protocol (NEAR) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Near Protocol (NEAR)?
The current market cap of Near Protocol (NEAR) is $9.6B AUD.
Can I convert Near Protocol (NEAR) to cash?
Yes - With Coinstash you can convert your Near Protocol (NEAR) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Near Protocol (NEAR) are there?
The current circulating supply of Near Protocol (NEAR) is 1.2B.
Is Coinstash a safe place to buy Near Protocol (NEAR) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Near Protocol (NEAR) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.