$NEAR NEAR coin, the native token of the NEAR Protocol, is a cryptocurrency used to support the NEAR Protocol network. Here is some key information about NEAR coin:
• Introduction to NEAR Protocol:
• NEAR Protocol is a decentralized application platform designed to provide applications with usability similar to today's web. The network operates on a proof-of-stake (PoS) consensus mechanism called Nightshade, aimed at providing dynamic scalability and stable transaction fees.
• NEAR Protocol allows developers to build mobile blockchain DApps that run natively on users' devices while providing developers with important information about DApps. Through state sharding, it allows the blockchain to scale linearly with the number of nodes in the network, targeting 100k TPS based on 1 million mobile nodes.
• Uses of NEAR coin:
• Fees for processing transactions and storing data.
• Staking NEAR tokens to run network validator nodes.
• Used for governance voting to decide how network resources are allocated and the future technical direction of the protocol.
• Market performance:
• According to the latest market data, the price of NEAR Protocol reached 5.703 on November 20, 2024, with a daily decline of -3.04% and a trading volume of 659 million.
• As of November 5, 2024, the latest price of NEAR Protocol was approximately $7.08, having risen 0.93% in the past 24 hours, with a trading volume of approximately $445 million, indicating a positive market sentiment towards NEAR and its potential applications.
• Technological innovations and market influencing factors:
• NEAR's sharding technology provides significant scalability advantages, enabling it to support large-scale decentralized applications, which is a key factor attracting developers and users.
• As more projects and partners join the NEAR ecosystem, its network effects strengthen, further driving the demand and value of NEAR tokens.
• Features and future of NEAR coin:
• NEAR coin focuses on user experience, offering a simple interface and affordable prices, allowing users to use it without needing blockchain knowledge, requiring only a username instead of having to remember public and private keys.
• NEAR coin also provides the Rainbow Bridge cross-chain bridge, allowing any ERC-20 token or NFT on the Ethereum chain to be directly transferred to the NEAR chain and used on NEAR with Ethereum contracts.
