When was NEAR coin issued? Learn about the origin of NEAR coin in one article

NEAR Coin, the native cryptocurrency of NEAR Protocol, was first issued on October 27, 2020, with the official launch of the platform's MainNet.

Oct 02, 2024 at 11:24 pm

When Was NEAR Coin Issued? Exploring the Origin of NEAR Protocol

1. Conception and Development:

NEAR Coin, the native cryptocurrency of the NEAR Protocol, was first conceptualized in 2018 by Alex Skidanov and Illia Polosukhin. The team's goal was to create a scalable, decentralized blockchain platform that would overcome the limitations of existing Ethereum-based solutions.

2. Testnet Launch:

In May 2020, NEAR Protocol launched its first testnet, "Testnet Nightshade," to showcase its proof-of-stake (PoS) consensus mechanism and sharding capabilities. This testnet allowed developers to test and provide feedback on the platform's functionality.

3. Token Allocation and Seed Sale:

In August 2020, NEAR Protocol conducted a seed sale to raise funding for the project. The sale allocated 20% of the total NEAR Coin supply to participants, raising approximately $12 million.

4. Mainnet Launch:

On October 27, 2020, NEAR Protocol officially launched its MainNet, marking the public release of the platform. The MainNet go-live event was a significant milestone for the project as it allowed developers to build and deploy applications on the NEAR blockchain.

5. MainNet Expansion:

Following the MainNet launch, NEAR Protocol continued to expand its capabilities and adoption. In subsequent months, the platform introduced additional features, including Nightshade sharding, dynamic transaction fees, and a token staking mechanism.

6. Ecosystem Growth:

Since its inception, NEAR Protocol has attracted a growing ecosystem of developers, projects, and users. The NEAR Foundation, a non-profit organization, provides support and resources to the platform's community, fostering innovation and adoption.

Conclusion:

NEAR Coin was first issued on October 27, 2020, with the official launch of NEAR Protocol's MainNet. The project's origins can be traced back to 2018 when it was conceived as a scalable and user-friendly blockchain platform. Through testnets, seed sales, and the MainNet launch, NEAR Protocol has established a strong foundation for decentralized application development. As the ecosystem continues to expand, NEAR Coin is expected to play a vital role in the future of the NEAR blockchain ecosystem.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

BABY

$0.0798

5136.61%

Trade Now
XCN

$0.0187

65.72%

Trade Now
ORCA

$3.0695

55.62%

Trade Now
AERGO

$0.1986

51.37%

Trade Now
GPRO

$63.9506

45.63%

Trade Now
ZRC

$0.0340

36.83%

Trade Now

Latest Crypto News

Ethereum (ETH) Price Demonstrated Signs of Rebounding from Its Sharp Recent Price Decline
2025-04-11 18:10:13
Congress Moves to Overhaul Securities Laws Targeting SEC Overreach and Unleashing Crypto Innovation
2025-04-11 18:10:13
Indonesian Tycoons Move Assets Overseas Following President Prabowo Subianto's Inauguration
2025-04-11 18:05:13
Bitcoin, Ethereum and Other Cryptocurrencies Surge on Positive US Inflation Data
2025-04-11 18:05:13
Bitcoin (BTC) Could Benefit From Yuan Weakness as Chinese Capital Seeks Refuge in Decentralized Assets
2025-04-11 18:00:12
MAGACOIN FINANCE: The 30x Dark Horse Meets a New Rival
2025-04-11 18:00:12

Related knowledge

What is Ethereum’s Slashing mechanism and how to punish malicious behavior?

Feb 20,2025 at 03:08am

Key PointsOverview of slashingDifferent types of slashing in EthereumIncentives and consequences of slashingIdentifying and reporting slashed validatorsOngoing discussions and potential improvementsEthereum's Slashing Mechanism: Punishing Malicious BehaviorEthereum's slashing mechanism is an essential tool for ensuring network security and punishing mal...

What is the verifier node of Ethereum and how to become a verifier?

Feb 19,2025 at 06:00pm

The Verifier Node of Ethereum: A Comprehensive GuideKey Points:What is a Verifier Node?How to Become a Verifier NodeResponsibilities and Rewards of a Verifier NodeMinimum Requirements for Becoming a Verifier NodePotential Difficulties in Running a Verifier Node1. What is a Verifier Node?A Verifier Node is an independent entity on the Ethereum network th...

What is Ethereum’s staking, and how to participate and earn money?

Feb 19,2025 at 04:37pm

Key Points:Understanding Ethereum's Staking MechanismSteps to Participate in StakingBenefits and Rewards of StakingSecurity and Risk ConsiderationsTechnical Requirements and Hardware OptionsPotential Challenges and Troubleshooting TipsFAQs on Ethereum StakingWhat is Ethereum's Staking?Proof-of-Stake (PoS) is a consensus mechanism used in blockchain netw...

What is Ethereum’s DAO (Decentralized Autonomous Organization) and how does it work?

Feb 20,2025 at 03:12am

Key PointsDefinition and Structure of a DAOGovernance and Decision-Making in DAOsBenefits and Use Cases of DAOsChallenges and Limitations of DAOsWhat is Ethereum's DAO (Decentralized Autonomous Organization) and How Does It Work?Definition and Structure of a DAOA Decentralized Autonomous Organization (DAO) is an innovative governance and management fram...

What is Ethereum's multi-signature wallet and how to improve security?

Feb 20,2025 at 02:18pm

Key Points:Understanding the Concept of a Multi-Signature WalletBenefits and Drawbacks of Multisig WalletsRequirements for Setting Up a Multisig WalletStep-by-Step Guide to Generating a Multisig WalletImplementing Strategies for Enhanced Security1. Understanding the Concept of a Multi-Signature WalletA multi-signature (multisig) wallet in the Ethereum e...

What is Ethereum's oracle and how to provide data for smart contracts?

Feb 21,2025 at 01:30am

Key Points:Understanding the concept of oracles in EthereumExploring different types of oraclesDetailed guide on how to provide data for smart contractsAddressing potential challenges and considerationsWhat is Ethereum's Oracle?Oracles are crucial components in the Ethereum ecosystem, enabling smart contracts to access real-world data and off-chain even...