Buy Near Protocol (near)

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Near Protocol

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About Near Protocol (NEAR)

Near Protocol was launched in April 2020 and is a decentralised application platform aiming to provide solutions for scaling in a multi-chain environment. The network, whose blockchain is climate-neutral, has the objective to eliminate the barriers to Web 3 adoption, running on a Proof-of-Stake (PoS) consensus mechanism called Nightshade. Its native utility token is NEAR that is used for running validator nodes on the network via staking, for governance votes on the allocation of network resources and for transaction and storage fees.

Near Protocol market stats

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    Tokens have wider functionality than crypto coins. Coins are native to their own blockchain, like Bitcoin, and are used as a form of digital money. Tokens, on the other hand, are often built on an existing blockchain and are used for a wide variety of functions, like fuelling applications, payment for validating transactions etc.

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    There is no physical BTC token so you can think of Bitcoin as digital money. Bitcoin transactions are fully transparent and can’t be censored. You can send money to anyone in the world with ease. It’s a financial system backed by thousands of computers around the world, instead of a single central bank or government. “Fiat money," on the other hand is legal money issued by a state authority without intrinsic internal value. It serves as a medium of exchange and is the opposite of commodity money like silver or gold.