NEAR Protocol
About NEAR Protocol
NEAR Protocol is a layer-one blockchain designed as a community-run cloud computing platform. It provides an ideal setting for decentralized applications (DApps), creating a user-friendly environment for developers. NEAR Protocol has incorporated features like human-readable account names, and offers solutions to scaling issues. It is being built by the NEAR Collective with the aim to build a platform secure and performant enough for managing high-value assets.
In the last hour, NEAR Protocol's price has seen a change of -0.02%, and over the past 24 hours, its price has moved by +8.07%. Over the previous week, NEAR Protocol's price has moved by +37.75%. The current price of NEAR Protocol is SAR 19.62, accompanied by a trading volume of 5.183B in the last day. NEAR Protocol's price is currently 74.42% below its all-time high of SAR 76.69, which remains the highest price NEAR Protocol has achieved since its launch. The circulating supply of NEAR Protocol stands at 1.307B, translating to a total market capitalization of 25.65B.
Market stats
Frequently asked questions
What is the NEAR Protocol (NEAR Protocol)?
The NEAR Protocol and its token (NEAR) are a platform for decentralized applications (DApps) that focuses primarily on ease of use for developers and users. The NEAR Protocol can be used to create smart contracts and relies on Proof of Stake (PoS) technology on the blockchain, similar to Ethereum. In Proof of Stake, blocks are validated by the hardware of token holders, who hold their tokens as collateral to validate blocks. This reduces the computational power required to process transactions and validate blocks on the blockchain, compared to the Proof-of-Work (PoW) model.
How does NEAR (NEAR) work?
The NEAR Protocol is built on a Proof-of-Stake (PoS) mechanism to secure the network and validate transactions efficiently and with extremely low energy consumption. Validators stake NEAR tokens to participate in validating transactions on the blockchain and producing new blocks. Their chances of being selected increase as the amount of tokens staked on the network grows. When a transaction is sent, validators examine it to ensure its validity and prevent double-spending,
The new block is then added and recorded on the blockchain, and validators receive rewards for their work. However, they may lose a portion of their staked tokens if they violate network rules. This system contributes to high network security, scalability, and low transaction fees.
How to buy NEAR on Rain?
- Make sure you have funds in your fiat account or your card is added in the payment methods section.
- Select the cryptocurrency you want to buy from the home or portfolio page.
- Click Trade and choose Buy.
- Enter the amount you wish to buy in your preferred fiat currency.
- Select your payment method, either by selecting your card or using the funds in your fiat account.
- Click Next to review your transaction details.
- Click Buy Now to complete the purchase.
NEAR will be added to your wallet once the trade is executed. At Rain, we use cold storage to keep the majority of our customers’ assets offline.
Rain is licensed by the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA).
This provides customers with a regulated framework for dealing with digital assets in the region.
What are the risks and considerations?
Before buying NEAR, it’s important to understand the associated risks:
• Competitive risks: there are many competitors to Layer 1 projects.
• Governance and regulatory risks: the value of the token may be affected by legislation and regulation.
• Custody risks: you must protect your account with a strong password and two-factor authentication and choose an appropriate storage method after thoroughly researching your options.
• Price volatility risks: the coin may be subject to sharp price fluctuations.
• Liquidity risks: liquidity may vary from time to time compared to major cryptocurrencies.
You should not purchase NEAR based solely on price predictions. Instead, you should study the whitepaper, the currency’s use cases, the project’s vision, and your risk tolerance before making any decision.
What is NEAR?
It is the native token of the NEAR Protocol and is used to pay for transactions and bridge other cryptocurrencies.
What is NEAR’s competitive advantage?
It offers fast transactions and low transaction fees, with a design that facilitates the development of decentralized applications on its platform
How is the network secured in NEAR?
Through the Proof-of-Stake (PoS) mechanism.
What is NEAR Protocol known for?
NEAR Protocol is known for being a decentralized application platform designed to make it easier for developers to build and deploy apps. Its scalability and user-friendly approach attract many users and developers to the platform.
How does NEAR Protocol achieve its scalability?
NEAR Protocol uses a technique called sharding to achieve scalability. By breaking the network into smaller pieces to process transactions in parallel, it increases the capacity of the network and allows for more transactions to be processed quickly.
What is the native cryptocurrency of NEAR Protocol?
The native cryptocurrency of NEAR Protocol is called NEAR. It is used for various purposes on the platform, such as paying for transaction fees, deploying smart contracts, and participating in securing the network through staking.
How to invest in NEAR Protocol?
Rain offers you a number of ways to start investing in NEAR Protocol, including buying NEAR Protocol through bank transfers or by using your bank card. To purchase NEAR Protocol on Rain, you can select NEAR Protocol in your Rain account, then click Trade and select Buy. Enter the amount you wish to buy and click Next to review and confirm your purchase.
How to buy NEAR Protocol with card?
Once you add your bank card to your Rain account, you can use it to buy NEAR Protocol directly. You can start by adding your card to your payment options on your Rain account. To purchase NEAR Protocol using your bank card, you can select NEAR Protocol, click Trade then select Buy. Enter the amount you wish to buy and choose your card from the payment options. Click Next to review and complete your purchase by following the instructions on the screen.
note: The purchase option with debit or credit card is not available for our users in Turkey
How to buy NEAR Protocol through bank deposit?
Rain enables you to buy NEAR Protocol using your local currency. You can deposit funds through bank transfer, a process which takes 1-4 business days depending on your location. You can start by depositing funds to your Rain account from your bank account. Simply click on Deposit and enter the amount you would like to transfer. Click next and copy the instructions that will appear on your screen to complete the transfer from your bank account. Note that Rain does not automatically pull funds from your bank account and you will need to manually transfer the funds from your bank account to Rain's banking information.
Within 1-4 business days, the funds will be available in your Rain account and you will be able to use them to complete purchasing NEAR Protocol. To do that, you can select NEAR Protocol in your Rain account, click Trade and select Buy. Enter the amount you wish to buy with and click Next to review and confirm your purchase.
How to sell NEAR Protocol?
This is an easy process that requires only a few clicks. Here are the steps needed to sell NEAR Protocol successfully:
On your Rain account, select NEAR Protocol then click Trade and select Sell. Enter the amount you wish to sell and click Next to review and confirm your sell transaction by entering an OTP. You will receive a confirmation email once the transaction is done with the details.
How to convert NEAR Protocol into cash?
Rain gives you the opportunity to sell NEAR Protocol and withdraw your funds from your Rain account to your local bank account. First, you need to add your personal bank account to your Payment Methods option on your Profile.
Once your bank account is added, you can sell NEAR Protocol and withdraw the funds to your bank account by clicking on Withdraw and entering the amount you wish to withdraw. Click Next to review and confirm your withdrawal information by entering an OTP.
Once the withdrawal request is submitted, you will receive a confirmation email that the withdrawal is being processed. Processing your withdrawal request can take between 1-4 business days.
How to receive NEAR Protocol?
If you would like to receive NEAR Protocol in your Rain account, simply click on Receive and select NEAR Protocol from the list at the top of the page. You can then either copy the address visible at the botom of the screen or share the QR code to to complete your receive transaction.
Make sure that you are using the correct network when receiving NEAR Protocol to avoid possible loss of funds.
How to send NEAR Protocol?
You can easily send your NEAR Protocol from your Rain account to any external wallet by clicking on Send and selecting NEAR Protocol from the list at the top of the page. Enter the amount you wish to send and add the external wallet address you are sending to. Click Next to review and confirm your send transaction by entering an OTP.
Why buy NEAR Protocol with Rain?
When you buy NEAR Protocol with Rain, you ensure that your assets are going to be safely stored on a regulated platform that follows strict compliance standards and is subject to periodic audits. Rain also uses bank-grade security measures like Cold Storage systems. Trading and storing NEAR Protocol on Rain also means that your asset is going to be stored on 1:1 basis, which means your assets will always be available to you.
What is a NEAR Protocol wallet?
A NEAR Protocol wallet is where you can securely store NEAR Protocol. A wallet helps you maintain ownership of your asset as well as enable you to trade, send or receive crypto-assets.
What is a NEAR Protocol address?
A NEAR Protocol address is a string of unique characters that is tied to your NEAR Protocol wallet. The address functions just like a bank account number and it is what you use in order to send NEAR Protocol from your wallet, or to receive NEAR Protocol to your wallet.
What trading pairs available for NEAR Protocol?
There are over 200 currency pairs available on Rain for you to trade with. You can trade NEAR Protocol with Bahraini dinar, Kuwaiti dinar, Emirati dirham, Omani rial or US dollar, depending on your location. Additionally, you can swap NEAR Protocol with 200 other assets like BTC, LTC, XRP, ETH. You can explore your options by visiting the market page on your Rain account: https://www.rain.com/market
What is the minimum order size to buy NEAR Protocol?
You can trade NEAR Protocol with any amount above $30 or equivalent in your account's currency. You can start trading NEAR Protocol now by clicking the Trade button on your Rain account.
What are the most popular cryptocurrencies besides NEAR Protocol?
Besides NEAR Protocol, you can find over 150 assets available on Rain for you to start trading such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, Ripple (XRP), DOGE, Tether (USDT), Chainlink (LINK) or BCH. You can explore these options by going to the homepage of your account and scrolling through the available assets. When you are ready to start trading, simply click on the asset of your choice and click Trade.
What blockchain is NEAR Protocol built on?
NEAR Protocol is built on the NEAR blockchain. This determines how transactions are verified, fees are structured, and how compatible it is with wallets and other decentralized applications (dApps).
How do I keep my NEAR Protocol safe?
To keep your NEAR Protocol safe, make sure to use trusted wallets that support NEAR. Enable two-factor authentication (2FA), store long-term assets in cold wallets, and never share your private keys with anyone. You can always refer to our Security & Policies section for more tips.
What will the price of NEAR Protocol be in next 5 years?
Price predictions for NEAR Protocol over the next five years are highly speculative and depend on crypto market conditions, adoption, and broader crypto trends. We encourage you to do your own research and make informed decisions.
Is trading NEAR Protocol taxable?
Trading NEAR Protocol may be considered taxable in some countries with varying tax rules, so we recommend checking with your local tax authority or financial advisor for specific guidance.
What is NEAR Protocol's ATH?
NEAR Protocol’s all-time high (ATH) was SAR 76.69 on 16 Jan 2022. This represents the highest recorded market price of the asset to date.
What is the market cap of NEAR Protocol?
With a market capitalization of 25.65B, NEAR Protocol is ranked 18 among other crypto assets.
What is the all-time high of NEAR Protocol?
The highest valuation of NEAR Protocol since its launch was at SAR 76.69, marking its all-time high.
What is the 24-hour trading volume of NEAR Protocol?
The trading activity of NEAR Protocol over the last 24 hours was at 5.183B, highlighting its liquidity in the market.
How many NEAR Protocol are there in circulation?
There are approximately 1.307B units of NEAR Protocol currently in circulation, affecting its market dynamics.
What is the relative popularity of NEAR Protocol?
NEAR Protocol market cap is around 25.65B.
When was NEAR Protocol created?
NEAR Protocol was introduced on 13 Oct 2020.
Website
White paper
Source Code
