Near Protocol (NEAR) - cryptocurrency of Google and Microsoft employees

If the former employees of such giants as Microsoft and Google are responsible for the creation of the new cryptocurrency, you can be sure that it will end in success. And that's the case with Near Protocol - blockchainu and cryptocurrencies that allow you to create smart contracts.

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today, it's time for Near Protocol - a simple and transparent project for developers, allowing to create smart contracts.

Big names from big companies

Near Protocol is a young project. Its origins date back to 2018. It was then that Alexander Skidanov and Illia Polosukhin met in the Y Combinator startup incubator. It is worth noting that this is not one of the many startup incubators that sometimes do something, but rather a definite industry leader. It is here that today's giants such as AirBnb, Dropbox or Stripe, as well as leading projects in the cryptocurrency industry, grew in strength: Coinbase, Opensea and Dharma.

The creators of the project themselves are also not random people. Alexander Skidanov is a former technical director of the MemSQL project at Microsoft, and Illia Polosukhin was responsible for research at Google. 

Therefore, it is no surprise that this combination resulted in a project that quickly turned out to be a great success. The creators started in two, the team quickly grew to 10 people, and today more than 50 programmers are working on the permanent development of programming. All thanks to the fact that at the beginning the project obtained external design from many companies that saw a lot of potential in it. Funding was provided by, among others: Coinbase Ventures, a16z Andreessen Horowitz MetaStable Capital and Pantera Capital. Today, more and more projects in the cryptocurrency industry appear on the Near Protocol blockchain: Chainlink, Aave or 1inch.

How Near Protocol works

Near Protocol is a blockchain platform that allows you to place smart contracts on it. Its biggest advantage - not only according to the authors, but most of all users - is the transparency of the code and the simplicity of implementing own solutions. The ability to work seamlessly with blockchain is not without significance Ethereum. So Near Protocol does not throw the giants' glove, but wants to warm up in their warmth and together build the blockchain community and its own success. Thanks to this, the scalability of the project is impressive, because the Near Protocol blockchain can process over 100 transactions per second.

Near Protocol cryptocurrency

Of course, a cryptocurrency was also created to facilitate the operation of the system. The charges for using the network are covered in NEAR. An interesting fact is that the tokens used to pay for transactions are destroyed. 

In the first tranche of subscriptions for institutional clients who supported the project in its creation, tokens on the Coinlist exchange had to be paid 29 cents, in the second tranche - 34 cents, and in the third - 40 cents for 1 token. 

Near quotes

As of January 21, 2021, the Near cryptocurrency can be traded on 18 cryptocurrency exchanges from around the world. Each token costs USD 2,27, and there are already 174 876 443 units in circulation out of the target 1 billion (annual inflation is planned at 5%), which translates into a capitalization of almost USD 400 million and daily turnover of over USD 76 million. The Near cryptocurrency has been listed since December 15, 2020, and reached the highest price in history last week - on January 17, 2021, it was paid $ 2,75.