Near Protocol is a decentralized application (dApp) framework that allows developers to create apps that can be used on the internet.The Protocol is based on the Nightshade Proof of Stake consensus. Its goal is to achieve scalability and a consistent fee. In the year 2020, Near launched its mainnet.
Near Protocol Apps
There are numerous applications and tools for the Near Protocol. These are some of them:
Near Wallet, SDKs for data structures used by developers, and testing tools for Assembly and Rust. Developers may use NEAR Explorer to easily debug and monitor network performance. To allow developers to use a local environment for testing applications, they can use the command line.
Near is the Protocol’s native token. It has a variety of applications, including Transaction Fees and Validator Nodes. It is also utilized for Near Protocol governance votes. The coin can be purchased on a variety of exchanges, including Binance and Huobi.
Price Movement – NEAR Protocol
Before the crash in July, the coin was being traded at the price of $7.580. It later fell down to the price of $1.546. It quickly moved upwards and created a new ATH around the price of $13.230 in October. At the time of writing this article, Near Protocol is being traded at a price of $9.77. The price has almost decreased by 9% today. On the monthly time frame, we have seen an increase of almost 12%. It is still very far away from its ATH.
About 90% of the newly issued tokens go to validators as rewards and the remaining goes to the treasury. 30% of transaction fees are rebates for smart contracts and the remaining 70% are burned.
The Total volume at the moment is $317,339,460 with a decrease of 52.93% in the past 24 hours. The coin is listed on coinmarketcap on the 29th spot and has a market dominance of about 0.25%.
Long Term Price Prediction
Wallet Investor thinks that it is a highly bullish coin and it would continue to rise in value. According to their prediction, in one year it will reach a value of $17.450. In a five-year plan, the price is expected to reach a value of $46.772. Traders think that it would soon reach the expected values in much less time.
