What is NEAR Protocol (NEAR)? How to buy NEAR token

What is NEAR?

NEAR is a decentralized application platform which runs atop the NEAR Protocol blockchain. This blockchain, which runs across hundreds of machines around the world, is organized to be permissionless, performant and secure enough to create a strong and decentralized data layer for the new web.

Technology Key Features

NEAR’s community-operated cloud uses a novel consensus algorithm and a scalable sharding architecture to achieve its high level design goals.

The key elements of NEAR’s technology are:

• Sharding: The system is designed to scale horizontally and near-infinitely by distributing computation across multiple parallelized shards.
• Consensus: Consensus is achieved across all of the nodes which make up the network operators across all of the shards using the new Nightshade algorithm.
• Staking Selection and Game Theory: To participate in the validation process, stakers are selected using a secure randomized process which optimally distributes seats across parties and provides incentives for them to operate with good behavior.
• Randomness: NEAR’s randomness approach is unbiasable, unpredictable and can tolerate up to 1/3 of malicious actors before liveness is affected and 2/3 of malicious actors before any one can actually influence its output.

Which problems can NEAR Protocol solve?

System design is relevant because the technical architecture of other platforms creates substantial problems with both usability and scalability which have made adoption nearly impossible by any but the most technical innovators.  End-users experience 97-99% dropoff rates when using applications and developers find the process of creating and maintaining their applications endlessly frustrating.

NEAR’s platform and organization are architected specifically to solve the above mentioned problems. The technical design is fanatically focused on creating the world’s most usable and scalable decentralized platform so global-scale applications can achieve real adoption.

Design Principles

NEAR’s overall system design principles are used to inform its technical design according to the following interpretations:

• Usability: End users should be burdened with the lowest possible security obligations for a given type of interaction. Developers should be able to easily build, test and deploy contracts in familiar languages and should be able to provide their end-users with experiences close to today’s web.
• Scalability: The platform should scale infinitely as its capacity is used.
• Simplicity: The design of each of the system’s components should be as simple as possible in order to achieve their primary purpose.
• Sustainable Decentralization: The barrier for participation in the platform as a validating node should be set as low as possible in order to bring a wide range of participants. Individual transactions made far in the future must be at least as secure as those made today in order to safeguard the value they modify.

NEAR token

NEAR token is used to:

• Pay the system for processing transactions and storing data.
• Run a validating node as part of the network by participating in the staking process.
• Help determine how network resources are allocated and where its future technical direction will go by participating in governance processes.

Key metrics NEAR token

• Ticker: NEAR.
• Blockchain: Near
• Token type: Utility + Governance.
• Total supply: 1,000,000,000
• Circulating supply: 448,984,780

NEAR token price today

Token Allocation

• Backers: 17.6%.
• Community Grants, Program,…: 17%.
• Core Contributors: 14.5%.
• Early Ecosystem: 13.3%.
• Operation Grants: 11.5%.
• Community Sale: 10%.
• Foundation Endowment: 10%.
• Small Backers: 6.1%.

How to buy NEAR token

Attlas Exchange is opening Spot trading and Swap for NEAR token.

Trade NEAR token at best prices here.

Summary

NEAR focuses on providing solutions to the two core problems of today’s blockchains — Usability and Scalability.

Above is information about the NEAR Protocol project compiled by Attlas Exchange. Users are advised to do your own research before making any trading decision.

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