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Popular science: What is NEAR coin? How to get NEAR coins?
The NEAR Coin, powering the NEAR Protocol, offers scalability, user-friendliness, and developer-centric features through its innovative sharding technology and comprehensive development tools.
Oct 07, 2024 at 11:30 pm

What is the NEAR Coin?
The NEAR Coin (NEAR) is a cryptocurrency that powers the NEAR Protocol, a layer-1 blockchain platform designed for scalability, usability, and developer-friendliness. Launched in April 2020, NEAR aims to overcome the challenges faced by other blockchain platforms, such as transaction delays, high fees, and complex development processes.
Key Features of NEAR Coin:
- Proof-of-Stake (PoS) Consensus: NEAR uses a proof-of-stake consensus mechanism, which selects validators based on the amount of NEAR coins they hold. Validators are responsible for verifying transactions and securing the network.
- Nightshade Sharding: NEAR employs a sharding mechanism called Nightshade to increase transaction throughput. The blockchain is divided into smaller subchains (shards) that process transactions in parallel, reducing network congestion.
- User-Friendly Development Tools: NEAR provides a suite of developer tools, such as NEAR Protocol NEAR Environment (NEP), NEAR Command-Line Interface (NEAR-CLI), and the Rust-based NEAR smart contract compilation tool (NEARSC), to facilitate dApp development.
How to Get NEAR Coins:
There are several ways to acquire NEAR coins:
- Cryptocurrency Exchanges: NEAR coins can be purchased on cryptocurrency exchanges such as Binance, Huobi, and Coinbase.
- Staking: Users can stake their NEAR coins to earn rewards and participate in network operations.
- DeFi Protocols: NEAR coins can be deposited into DeFi protocols to earn interest or participate in yield farming.
- Contribute to the NEAR Ecosystem: Developers and contributors who build and maintain the NEAR ecosystem may receive NEAR coin rewards.
Benefits of Holding NEAR Coins:
- Transaction Fees: NEAR coins are used to pay transaction fees on the NEAR Protocol blockchain.
- Governance and Voting: Holders of NEAR coins have governance rights and can participate in voting on protocol updates and proposals.
- Staking Rewards: Staking NEAR coins provides passive income through block rewards.
- Scarcity: The maximum supply of NEAR coins is limited to 1 billion, creating a deflationary mechanism that may increase its value over time.
- Support for dApps: NEAR coins can be used to access and interact with dApps built on the NEAR Protocol.
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!
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