Question 1

What is NEAR?

Accepted Answer

NEAR Protocol is a Layer-1 blockchain computing platform that incentivizes a community-run network for its operations. It aims to facilitate a platform for the creation and wider distribution of decentralized applications (DApps) with speed and safety in mind. Its native cryptocurrency is NEAR.

Question 2

How does NEAR work?

Accepted Answer

NEAR Protocol operates as a proof-of-stake (PoS) blockchain and uses a technique called “sharding” in order to improve the blockchains performance. This involves breaking up the blockchain into sub-chains to allow various validators to work on them, regularly connecting to one another, which reduces the congestion and stress associated with performing multiple transactions over a single blockchain. This, amongst other unique attributes, allows NEAR Protocol to reach theoretical transactions speeds of around 100,000 transactions per second (TPS).

Question 3

When was NEAR created?

Accepted Answer

NEAR Protocol was founded by Erik Trautum - while the framework of the NEAR Protocol was created back in 2017 by co-founders Illia Polosukhin and Alexander Skidanov who launched the idea as Near.ai. It was then launched as a blockchain in 2018 as the NEAR Protocol - with its mainnet launch in April, 2020. Between them, they have a wide array of experience including computer science, engineering and finance.

Question 4

How do I purchase NEAR?

Accepted Answer

The NEAR cryptocurrency is available for purchase in a variety of ways. Major centralized exchanges (such as Binance, Coinbase, Kraken and KuCoin) will allow you to purchase APT with fiat currency. Other options include purchasing NEAR via a crypto wallet (such as Metamask or Trust Wallet), or via decentralized exchanges (DEXs) such as Pancakeswap.

Question 5

What makes NEAR so popular?

Accepted Answer

The NEAR Protocol makes use of various technologies to massively increase its network speeds, capacity and scalability. One of which is known as Nightshade - a variation of sharding that allows individual sets of validators the ability to process transactions in parallel across a multitude of sharded chains. Another unique feature of NEAR is that it utilizes human readable addresses by default, instead of the standard long strings of numbers used by other blockchains, making the onboarding process easier for its users.

Question 6

Why choose NEAR for NFTs?

Accepted Answer

Like many alternatives to Ethereum - NEAR Protocol offers a variety of benefits when it comes to minting and launching and NFT project. They boast great transaction speeds and low gas fees - with an emphasis on its ease of use for both NFT creators and enthusiasts alike.

Question 7

How strong is the NEAR Ecosystem?

Accepted Answer

NEAR has a market cap (MCAP) of $1.8 billion as of January, 2023. It also averages around 400,000 transactions per day (as of Jan, 2023). At it’s all time high (ATH) the APT cryptocurrency price reached $20.44 (in Jan. 2022). As it is technically an infinitely scalable community-run blockchain - NEAR Protocol has a solid base for future performance and wider adoption within the Web3 space.

Question 8

What are the price predictions for NEAR by 2030?

Accepted Answer

Based on current price predictions, potential future use cases, updates and market conditions - NEAR is projected to hit a price range between $25 and $44 by the year 2030. These price predictions are subject to constant change.

NEAR NFT archive

Through simple, secure, and scalable technology, NEAR empowers millions to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future.

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