What is secure and scalable Near Protocol (NEAR)?

Photo Credits : DepositPhotos

Notice: This article is for informational and educational purposes only, and you should not take it as financial advice.

NEAR Protocol is a decentralized application platform designed to make applications usable on the Internet. This network is working on a Proof-of-Stake (PoS) Nightshade and aims to offer stable fees.

NEAR is a native service token used to:

  • Fees for transaction processing and data storage.
  • Running validator nodes online by placing a NEAR token.
  • It is used for management votes to determine how network resources are allocated.

NEAR tools include:

  • NEAR SDKs that include standard data structures and testing tools for Rust and AssembliScript.
  • Gitpod for NEAR to create a zero networking experience for developers.
  • NEAR Vallet allows application developers to create a simplified user experience.
  • NEAR Explorer to help troubleshoot contracts and understand network performance.
  • NEAR Command Line Tools that allow developers to deploy applications from the local environment.

How many CLOSE coins are in circulation?

The NEAR protocol launched its network on April 22, 2020, with one billion NEAR tokens created in genesis. Each year, 5% of the additional supply is issued to support the network as an award era, of which 90% goes to validators (4.5% in total) and 10% to the protocol box office (0.5% in total). 30% of the transaction fee is paid as rebates on contracts that interact with the transaction, while the remaining 70% is burned.

Who are the founders of the NEAR protocol?

NEAR Protocol is the brainchild of developers Alek Skidanov and Illia Polosukhin, both of whom have extensive programming experience. The two met while Skidanov was working in the American accelerator for starting the company I Combinator, and in July 2018, they started working on a project that focused on enabling developers to build and release software with less friction.

This project has become what is now the NEAR protocol and employs more than 40 staff, including developers with experience in Google and MemSKL. According to the official NEAR Protocol website, many developers hold awards and nominations in coding competitions and related fields, especially the International Collegiate Programming Competition (ICPC). Skidanov himself worked at both MemSKL and Microsoft, while Polosukhin contributed to the end-to-end open-source machine learning platform TensorFlow and Google Search.

NEAR quantity in circulation 630,093,814 Maximum quantity 1,000,000,000. Highest value 35.43 BAM Lowest value 0.9126316 BAM. NEAR Protocol Trading 24h: 834,374,837.75 BAM; 7 days: 5,667,384,500.08 BAM; 30 days: 25,995,140,012.57 BAM.

Photo Credits: Near/Promo