What is the NEAR Protocol? and How Can You Benefit From It?

NEAR Protocol is a blockchain platform designed to enable developers to build decentralized applications (dApps ) that are scalable, secure, and usable. The platform uses a unique approach to consensus called “Nightshade ,” which allows it to process transactions in parallel and achieve high throughput while maintaining low latency. NEAR Protocol is open-source and community-driven, and its architecture is designed to support the creation of decentralized applications that mainstream users can use.

NEAR Protocol was founded in 2018 by Alexander Skidanov , Illia Polosukhin , and Dmitry Strashnov , who were previously engineers at Google , Microsoft , and MemSQL . The project has received funding from some top venture capital firms, including Andreessen Horowitz , Pantera Capital , and Electric Capital .

NEAR Protocol Advantages and Disadvantages


  1. Scalability: Near Protocol can handle up to 100,000 transactions per second, making it one of the fastest blockchain platforms
  2. Usability: The platform is designed to make it easy for developers to build decentralized applications that mainstream users can use.
  3. Security: Near Protocol uses a unique approach to consensus called “Nightshade ,” which ensures the platform is secure and resistant to attacks.
  4. Low Transaction Fees: Near Protocol has low transaction fees, making it an affordable option for developers.


  1. Centralization: Near Protocol is still in its early stages, and several validators currently dominate the platform.
  2. Limited Ecosystem: Near Protocol is still a relatively new platform, and its ecosystem is still growing.
  3. Network Congestion: While Near Protocol is designed to handle high throughput, network congestion can still occur during periods of high demand.

What is the NEAR Protocol? and How Can You Benefit From It?

How to Get a NEAR Coin?

If you want a NEAR coin , you can buy it on cryptocurrency exchanges such as Binance , Huobi , and OKEx . Before purchasing the NEAR currency , you must create an account on the exchange and complete the KYC/AML verification process.

Once you have funded your account with Bitcoin , Ethereum , or other cryptocurrencies , you can use those funds to buy a NEAR coin . You can place a buy order for NEAR coin, specifying the amount you want to purchase and the price you’re willing to pay.

After your buy order is filled, you can withdraw your NEAR coin to your wallet for safekeeping. It’s important to remember that investing in cryptocurrencies can be risky, and it’s essential to do your research before investing .

NEAR Protocol Live Price and Chart

NEAR Protocol is a decentralized blockchain platform that enables developers to build scalable, high-performance decentralized applications (dApps ). The NEAR Protocol native cryptocurrency is NEAR, which is used as a means of payment for transactions on the platform and as a reward for validators who help secure the network. The live price and chart of NEAR can be found on various cryptocurrency exchanges and trading platforms and on websites that track real-time cryptocurrency market data . As with any cryptocurrency, the price of NEAR is subject to market fluctuations and can be affected by various factors, such as supply and demand, investor sentiment, and regulatory developments .

In conclusion, NEAR Protocol is a promising blockchain platform that aims to enable developers to build decentralized applications that are scalable, secure, and usable. The platform’s unique approach to consensus and architecture and its low transaction fees make it an attractive option for developers looking to build dApps that mainstream users can use. However, the platform is still in its early stages, with limitations to consider, such as centralization and network congestion. Nevertheless, with its growing ecosystem and support from top venture capital firms, NEAR Protocol has the potential to become a significant player in the blockchain industry . Investors interested in NEAR can buy the native NEAR coin on cryptocurrency exchanges , but it’s essential to remember the risks associated with investing in cryptocurrencies .

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Emma Horvath

After graduating Communication and Media Studies MA in Eötvös Loránd University, Emma started to realize that her childhood dream as a creative news reporter committed to find dynamic journalism stories. I'm a passionate journalist with a keen interest in the fast-evolving world of cryptocurrencies. I've been reporting on the latest developments in the crypto industry for several years now, covering breaking news and providing insights on how the market is trending. I'm adept at analyzing daily market movements, researching ICOs, and keeping track of the latest innovations in blockchain technology. My expertise in the space makes her a trusted voice in the crypto community. Whether it's the latest Bitcoin price movements or the launch of a new DeFi platform, I am always at the forefront, bringing her readers the most up-to-date and informative news.

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