NEAR Protocol
About NEAR Protocol
NEAR protocol is software created to incite a computer network mining to operate a platform where developers can come together to create and launch decentralized applications.
Another concept of this project is sharding—the concept that was created to split the network system into different segregation so that computers will only handle a segment of the transaction network. The concept of shading is anticipated to create value and a more productive way of scaling the platform and retrieving network data.
It is built more similarly to some centralized data storage systems like all time high Amazon Web Services; it functions as the base layer on which applications are built. However, instead of being run by one entity, the protocol functions and is maintained by a distributed network of computer systems. The price of NEAR Protocol today and its native cryptocurrency share a similar feature as Amazon Web Services, which allows developers to move code without the need to create their own live price system.
How Does the NEAR Protocol Work?
This token is a Proof of Stake—PoS blockchain created to compete with other networks with his shading solution—Nightshade.
Nightshade is a blockchain that allows each participating node to store a subset of the graph platform data. It also maintains a single chain of data through Nightshade while distributing the requirements needed to maintain data into chunks. The nodes handle these chunks, add the information, and process the data to the main chain.
Rainbow Bridge: Rainbow Bridge is the project app that allows participants to transfer Ethereum tokens easily between Ethereum and this crypto token. To move the Ethereum token to NEAR protocol, users must first deposit some token into Ethereum smart contract. Then, the tokens will be locked, and new ones will be generated, replacing the locked ones.
Aurora: Here is a two-layer scaling solution developed. It was built for developers who want to launch their Ethereum decentralized application on the token’s platform. This layer was built using the Ethereum Virtual Machine, Ethereum coding technology, and a bridge that enables software developers to connect their Ethereum assets and contract without any flaws.
How to buy NEAR Protocol (NEAR)
You can buy this token by following the steps below:
- Sign up on Binance; you can choose the website or Binance App: open the account on this website and verify it is your gateway to buying at the NEAR protocol price today.
- The method you want to use in buying the token.
- Click on Buy Crypto’ bottom. You can locate it at the top left of the website, which displays the crypto available in your country.
Note that you must have NEAR protocol price USD or BUSD in your wallet and use coins to buy at the current NEAR protocol price.
You can then store your crypto in your Binance account or your personal crypto wallet after successfully purchasing it. Binance also allows you to trade or stake other cryptos on binance.
Note that your bank might block your first cryptocurrency because of security reasons. In this case, you’ll need to contact your bank and tell them the purchase was made intentionally by you. Then, you go back to make the NEAR protocol to USD purchase again.
