What is NEAR

NEAR Token or Near Protocol (NEAR/USDT – Trade it here) 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. Let’s explore the core features and overall tokenomics of Near Protocol (plus ways of how to buy NEAR and earn it on MEXC). You also can get more information about MEXC initial listing here.

NEAR Protocol or NEAR Token Logo
Near Protocol (NEAR Token) on MEXC

NEAR Core Features

NEAR aims at allowing developers and entrepreneurs to easily and sustainably build applications which secure high value assets like money and identity while making them performant and usable enough for consumers to access.

NEAR’s “progressive security” model allows developers to create experiences for their users which more closely resemble familiar web experiences by delaying onboarding, removing the need for user to learn “blockchain” concepts and limiting the number of permission-asking interactions the user must have to use the application.

  • Simple Onboarding: NEAR allows developers to take actions on behalf of their users, which allows them to onboard users without requiring these users to provide a wallet or interact with tokens immediately upon reaching an application.
  • Easy Subscriptions: Contract-based accounts allow for easy creation of subscriptions and custom permissioning for particular applications.
  • Familiar Usage Styles: The NEAR economic model allows developers to pay for usage on behalf of their users in order to hide the costs of infrastructure in a way that is in line with familiar web usage paradigms.
  • Predictable Pricing: NEAR prices transactions on the platform in simple terms which allow end-users to experience predictable pricing and less cognitive load when using the platform.

NEAR uses a sharding approach which allows the network to increase its capacity as additional nodes participate. This is done by dynamically splitting the network nodes into multiple shards when usage is high enough to require it and parallelizing computation across those shards. With this approach, the network can scale continuously as demand increases.

NEAR also uses a staking mechanism called “Thresholded Proof of Stake” which is specifically designed to be both deterministic and broadly fair so it doesn’t incentivize pooling of large validators and it encourages broad participation from nodes.Lowering the barriers to entry for nodes accomplishes more than simply decentralizing the network. In a horizontally scaling system like NEAR’s, the more nodes which can participate, the more it can scale as well.

NEAR Ecosystem

The ecosystem which makes up the NEAR platform is driven primarily by economic forces. This economy creates the incentives which allow participants to permissionlessly organize to drive the platform’s key functions while creating strong disincentives for undesirable, irresponsible or malicious behavior. In order for the platform to be effective, these incentives need to exist both in the short term and the long term.

Fundamentally, the NEAR platform is a marketplace between willing participants. On the supply side, operators of the validator nodes and other fundamental infrastructure need to be incentivized to provide these services which make up the “community cloud.” On the demand side, the developers and end-users of the platform who are paying for its use need to be able to do so in a way which is simple, clear and consistent so it helps them.

Further, economic forces can also be applied to support the ecosystem as a whole. They can be used at a micro level to create new business models by directly compensating the developers who create its most useful applications. They can also be used at a macro level by coordinating the efforts of a broader set of ecosystem participants who participate in everything from education to governance.

NEAR Token

The native digital cryptographically-secured utility token of the NEAR Platform is a transferable representation of attributed functions specified in the protocol/code of the NEAR Platform, designed to play a major role in the functioning of the ecosystem on the NEAR Platform, and intended to be used solely as the primary utility token on the platform.

NEAR Token has the following features:

  • pay within the ecosystem for various services, such as processing transactions, providing bandwidth, and storing data
  • run a validating node (providing computational resources to validate information / produce blocks) 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

How to buy NEAR?

Looking for how to buy NEAR on MEXC? Consider following this steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  1. Search “NEAR” using the search bar to see the available trading pairs. Take NEAR/USDT as an example.
  1. Scroll down and go to the [Spot] box. Enter the amount of NEAR you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy NEAR] to confirm your order. You will find the purchased NEAR in your Spot Wallet.

For the comprehensive guide on how to buy NEAR and other available tokens, please visit special MEXC How to Buy Guides Section.

Recent NEAR Token Price & Performance

Since listed on MEXC in 2020, NEAR reached the highest price (ATH) of 20.48 USDT in December 2021.

Interested in crypto like NEAR?

MEXC lists moonshot and provides access to trading of major crypto tokens like NEAR, keep an eye on our listings in Innovation and Assessment zones, as well as major tokens in the Main Zone – we have more great projects to come! Also, visit the hot projects section to find more hot tokes that were listed already. If you would like to know more about crypto trading itself visit MEXC Academy.

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