How does NEAR Protocol operate?

NEAR Protocol operates on a peer-to-peer network with a shared public ledger, supporting high transaction throughput and low latency.

What are the key technical features of NEAR Protocol?

NEAR Protocol features a fully unlocked token supply, a deflationary trajectory, and an active governance system known as House of Stake.

What are the risks associated with transferring NEAR Protocol assets?

Digital asset prices can be volatile, and users should verify contract addresses and custody methods before transferring assets.

How can I verify the acquisition of NEAR Protocol?

Verify the asset name, network, and contract details before transferring, and ensure the destination address is correct.

NEAR Protocol (NEAR)

Rank #34

Market snapshot

Price: $1.73
Market cap: $2.3B
24h volume: $230.3M
Circulating supply: 1,304,033,921
Total supply: 1,304,033,921
Max supply: N/A

What is NEAR Protocol?

NEAR Protocol is a fully sharded, quantum-adaptive blockchain infrastructure. It has maintained 100% uptime on its mainnet for over 5 years, supporting a wide range of decentralized applications. The protocol is designed to provide a scalable and user-friendly environment for developers and users alike.

How NEAR Protocol works

NEAR Protocol operates on a peer-to-peer network where transactions are recorded on a shared public ledger. It supports up to 1 million transactions per second (TPS), with block times of 600 milliseconds and transaction finality achieved in approximately 1.2 seconds. This architecture allows for efficient transaction processing and scalability.

Key information

Symbol: NEAR
CMC rank: #34
Network / platforms: Ethereum
Categories: N/A
Date added: Aug 11, 2020

Contract address

Contract addresses are stored from CoinMarketCap metadata and are shown as recorded. CoinLoom does not independently certify them as official.

Ethereum
0x85f17cf997934a597031b2e18a9ab6ebd4b9f6a4

Key characteristics

NEAR Protocol features a fully unlocked token supply and protocol revenue that flows to NEAR buybacks, contributing to a deflationary trajectory. The House of Stake governance system is active on the mainnet, enabling on-chain ratification of protocol upgrades and economic parameters.

Official resources

Risks

Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.

Transfer and custody notes

Verify the asset name, network, and any supplied contract details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.

FAQ

What is NEAR Protocol?: NEAR Protocol is a blockchain platform designed for decentralized applications and services, utilizing a sharded infrastructure for scalability.
How does NEAR Protocol operate?: NEAR Protocol operates on a peer-to-peer network with a shared public ledger, supporting high transaction throughput and low latency.
What are the key technical features of NEAR Protocol?: NEAR Protocol features a fully unlocked token supply, a deflationary trajectory, and an active governance system known as House of Stake.
What are the risks associated with transferring NEAR Protocol assets?: Digital asset prices can be volatile, and users should verify contract addresses and custody methods before transferring assets.
How can I verify the acquisition of NEAR Protocol?: Verify the asset name, network, and contract details before transferring, and ensure the destination address is correct.

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