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NEAR Protocol

NEAR
OG Rank: 32
Market Cap Rank: 25 ($7.93B)
ACTIVE
About

NEAR Protocol prioritizes scalability and accessibility through innovative sharded architecture and Nightshade technology... Learn More

Founder
Erik Trautman
NEAR Price

$6.5

24h 4.20%
7d -20.61%
All time low ($0.526762)
($20.44) All time High

OG Score

Based on 1 OG evaluation

TBA

...

LINKS

OGAudit Evaluation Points

57.37
75.80
Use Case & Tech

Use Case & Tech

Is this web3 project innovative and offers a unique solution to a problem that outperforms its competitors? Is the product or service as useful, fast and inexpensive as advertised? How robust is this network/contract and are there up-to-date technical audit reports from various reputable auditors? Was the network/contract halted before? Have there been any serious hack or exploits? If so, were the victims adequately compensated?
60.70
Promising and Growing

Promising and Growing

How realistic are the team's vision, mission, and goals? Does the team have a clear roadmap and consistently fulfill their promises? Can the team adapt to market changes and meet user demands?
80.00
Revenue Model

Revenue Model

Does the project have sustainable and diversified revenue income models? Additionally, does it possess sufficient resources to sustain its operations in the medium to long term?
59.40
TVL & Liquidity

TVL & Liquidity

Is the TVL (Total Value Locked) or staked assets on the platform at a sufficient rate compared to the market cap? Note: High TVL or staked assets generally indicate trust in the ecosystem or the smart contract. If there is a token, is there sufficient liquidity and volume in DeFi and CEX?
61.70
Tokenomics, Utility

Tokenomics, Utility

What is the token circulation ratio to maximum supply? What is the impact of mining, staking, and LP incentives on token inflation? Is the vesting schedule evenly spread over multiple years? What is the ratio of tokens held by the team and whales? Note: High inflation, low circulating supply, and significant whale/team token holdings are main reasons for low ratings.
37.60
Community & DAO

Community & DAO

Does the team value and prioritize community input and use on-chain voting for decisions? Is decision-making equitable, or do the whales have undue influence? Are diverse and local communities well-supported, with emphasis on quality interactions over quantity? Has there been a large-scale airdrop for the community?
68.10
Team & Partners

Team & Partners

Are the core team members experienced and transparent, or are they anonymous? Is the team large enough and experienced compared to similar projects, and are they actively recruiting new talent? Are partnerships strong and conducive to industry advancement? Does the ecosystem have growth potential?
62.70
Education and Support

Education and Support

Are there sufficient, clear, and up-to-date materials about the product/service in the webpage/whitepaper and community channels? Do they regularly share news/updates and host AMA sessions? Is the user retention rate high, are they professional and solution-oriented in terms of user support?
47.00
Marketing / Socials

Marketing / Socials

Are social media and marketing strategies effective and sustainable? Do they organize entertaining, educational, and rewarding events and campaigns? Can they create and spread quality viral content? Is their social media presence organic, or the follower count, and post engagements are manipulated by bots?
20.70
Gem Scope

Gem Scope

Considering all the points you have evaluated, especially the market cap, what is the potential of this project to be considered a 'gem'?
57.37
75.80
Use Case & Tech

Use Case & Tech

Is this web3 project innovative and offers a unique solution to a problem that outperforms its competitors? Is the product or service as useful, fast and inexpensive as advertised? How robust is this network/contract and are there up-to-date technical audit reports from various reputable auditors? Was the network/contract halted before? Have there been any serious hack or exploits? If so, were the victims adequately compensated?
60.70
Promising and Growing

Promising and Growing

How realistic are the team's vision, mission, and goals? Does the team have a clear roadmap and consistently fulfill their promises? Can the team adapt to market changes and meet user demands?
80.00
Revenue Model

Revenue Model

Does the project have sustainable and diversified revenue income models? Additionally, does it possess sufficient resources to sustain its operations in the medium to long term?
59.40
TVL & Liquidity

TVL & Liquidity

Is the TVL (Total Value Locked) or staked assets on the platform at a sufficient rate compared to the market cap? Note: High TVL or staked assets generally indicate trust in the ecosystem or the smart contract. If there is a token, is there sufficient liquidity and volume in DeFi and CEX?
61.70
Tokenomics, Utility

Tokenomics, Utility

What is the token circulation ratio to maximum supply? What is the impact of mining, staking, and LP incentives on token inflation? Is the vesting schedule evenly spread over multiple years? What is the ratio of tokens held by the team and whales? Note: High inflation, low circulating supply, and significant whale/team token holdings are main reasons for low ratings.
37.60
Community & DAO

Community & DAO

Does the team value and prioritize community input and use on-chain voting for decisions? Is decision-making equitable, or do the whales have undue influence? Are diverse and local communities well-supported, with emphasis on quality interactions over quantity? Has there been a large-scale airdrop for the community?
68.10
Team & Partners

Team & Partners

Are the core team members experienced and transparent, or are they anonymous? Is the team large enough and experienced compared to similar projects, and are they actively recruiting new talent? Are partnerships strong and conducive to industry advancement? Does the ecosystem have growth potential?
62.70
Education and Support

Education and Support

Are there sufficient, clear, and up-to-date materials about the product/service in the webpage/whitepaper and community channels? Do they regularly share news/updates and host AMA sessions? Is the user retention rate high, are they professional and solution-oriented in terms of user support?
47.00
Marketing / Socials

Marketing / Socials

Are social media and marketing strategies effective and sustainable? Do they organize entertaining, educational, and rewarding events and campaigns? Can they create and spread quality viral content? Is their social media presence organic, or the follower count, and post engagements are manipulated by bots?
20.70
Gem Scope

Gem Scope

Considering all the points you have evaluated, especially the market cap, what is the potential of this project to be considered a 'gem'?

OG REVIEWS

Latest OG Reviews
High Ratings
CryptoApe Wallet No:xxxx-5f294
25/09/2024 17:57
NEAR @ $5.29
Near Protocol, a Layer1 blockchain platform, tries to solve the scaling problem with a sharding.
Near has moved away from the Social Blockchain narrative, and now focusing on AI and chain abstraction.

As of today, there are 227 Valitators in the Near network and in order to run a validator, it is necessary to have 11K $Near (~$58K) which is pretty high.
Co-founders Illia and Alex are talented builders
57.37
Low Ratings

NEAR Protocol Price

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Price Statistics

NEAR Protocol Price $6.5

24h Low / 24h High $6.07 / $ 6.52

Market Cap Rank #25

Market Cap $ 7.93 B

Circulation Supply $ 1.22 B

Total Supply $ 1.22 B

Max Supply $ 0.00

All Time High $ 20.44

All Time Low $ 0.526762

ICO/IDO Price 0

NEAR Protocol Markets

Exchange Pair Og Score TBA 24h Volume

About Project

What is NEAR Protocol (NEAR)?

NEAR Protocol: Pioneering Scalability and User-Friendly Blockchain Solutions

NEAR Protocol stands as a revolutionary force in the blockchain sphere, introducing a decentralized application platform with a keen focus on scalability and user accessibility. Launched in April 2020 by the NEAR Foundation, it utilizes a Proof-of-Stake (PoS) consensus mechanism and an innovative sharded architecture, spearheading solutions to the long-standing limitations faced by traditional blockchains.

At its core lies the vision to foster a developer and user-friendly ecosystem. NEAR employs a unique block generation scheme named Doomslug and a sharding design called Nightshade, working in unison to bolster network scalability and alleviate congestion. Nightshade's sharding mechanism splits the network into smaller shards, allowing nodes to handle specific shard-related computations, leading to parallel transaction processing and significantly enhancing throughput.

One of NEAR's standout features is its commitment to simplicity. With human-readable account names, it eradicates the complexities associated with cryptographic wallet addresses, ensuring a seamless onboarding experience. Its consensus mechanism encourages active participation: validators stake NEAR tokens for a chance at consensus, while users can delegate their stake to preferred validators.

The native NEAR token plays a pivotal role within the ecosystem, facilitating transactions, rewarding stakeholders like validators and developers, and being used as collateral for data storage on the blockchain. NEAR Protocol also supports wrapped tokens from other chains and boasts a bridge to Ethereum, enabling the seamless transfer of ERC-20 tokens.

The platform's versatility attracts a spectrum of projects across diverse sectors. Notable ventures like Flux, fostering open markets, Mintbase for NFT issuance, and Paras, a niche marketplace for quality NFTs by select artists, exemplify the platform's adaptability and innovation.

NEAR Protocol's uniqueness lies in its Nightshade technology, propelling transaction throughput to remarkable levels—up to 100,000 transactions per second—while ensuring near-instant finality with minimal transaction fees. This breakthrough, combined with its user-centric approach and developer-friendly tools, positions NEAR as a pioneering force in the evolution of blockchain technology.

Led by Erik Trautman, Illia Polosukhin, and Alexander Skidanov, NEAR Protocol embodies a powerhouse team of experienced developers committed to revolutionizing blockchain scalability. Their collective expertise, coupled with the groundbreaking Nightshade technology, makes NEAR Protocol a frontrunner in shaping the future landscape of decentralized applications and blockchain scalability.

NEAR isn't merely a blockchain; it's a pioneering step towards an open, accessible web where scalability meets user-centric design.

What is unique about NEAR Protocol (NEAR)?

Near Protocol stands out for its sharding design, Nightshade, boosting transaction throughput to 100,000 transactions per second while maintaining near-instant finality and minimal fees. Its user-friendly approach with human-readable account names also sets it apart.

Who are the founders of NEAR Protocol (NEAR)?

Near Protocol was founded by Erik Trautman, Illia Polosukhin, and Alexander Skidanov, leading an experienced team dedicated to revolutionizing blockchain scalability.

Who are the backers/investors of NEAR Protocol (NEAR)?

Andreessen Horowitz (a16z), DragonFly Capital, Tiger Global Management, Coinbase Ventures, Pantera Capital, Multicoin Capital, Balaji Srinivasan, Circle, Hashed Fund, ParaFi Capital, Mechanism Capital, Electric Capital, Republic, 6th Man Ventures, Stani Kulechov, IDEO CoLab Ventures, Amber Group, Alan Howard, Fundamental Labs, Blockchange Ventures, Zee Prime Capital, Naval Ravikant, Santiago R. Santos, Folius Ventures, Scalar Capital, Libertus Capital, Accomplice Blockchain, Metastable Capital, MetaWeb Ventures, Xpring Capital, Amplify Partners, DTC Capital, Andrew Keys, Three Arrows Capital, Alameda Research, FTX Ventures.

What is the consensus mechanism of NEAR Protocol (NEAR)?

Near Protocol utilizes a Proof-of-Stake (PoS) consensus mechanism, where validators stake NEAR tokens to participate in consensus. Users can delegate their stake to validators of their choice.

Where can I buy NEAR Protocol (NEAR)?

 

What are NEAR Protocol (NEAR) user reviews/opinions?

OGAudit is the first independent social audit platform for web3 projects and cryptocurrencies. Here you can find comprehensive crypto evaluations, ratings, unbiased and objective expert user reviews. There may be positive, negative, and neutral evaluations based on experts' experience and perspective with the product or the service about each cryptocurrency like NEAR Protocol NEAR. To access these ratings, evaluations, and comments, click here.

How to mine NEAR Protocol (NEAR)? How can I stake NEAR Protocol (NEAR)?

There may be different staking options available such as to participating in DAOs, decentralized governance and revenue sharing. Please watch out for scams. Only consider staking options promoted on the official website of the project and advised partners. Please click here to see the official links and make sure to follow the latest instructions.

What is the circulating, max supply and market cap of NEAR Protocol (NEAR)?

This data is dynamic and varies depending on the number of tokens that are being vested/vesting, removed from circulation because of network transactions or burned permanently and staking reward distribution mechanism. According to self-declared data the circulating supply of  NEAR Protocol (NEAR) is ($1,217,906,155), max supply of NEAR Protocol  NEAR is ($0) and the market cap of NEAR Protocol  NEAR is ($7,926,345,215)

What is the NEAR Protocol (NEAR) price prediction?

Predicting prices in the crypto market is highly speculative and can't be definitively stated. Various factors drive price movements such as macroeconomics, Bitcoin ($btc) and crypto market overall behavior, on-chain activity, whale positionings, growth potential of the project etc. We cannot give any price predictions nor financial advice, but you can look at our comprehensive data, expert user reviews and decide if the product suits your needs! Please do your own research DYOR!

What is the price of NEAR Protocol (NEAR)?

The current market price of NEAR Protocol (NEAR) is $6. As the OGAudit community we mainly focus on features such as use cases, product development, and sustainable growth. However, we also provide real-time market data and coin/token statistics, analytics, price history for popular altcoins. see here.

Is NEAR Protocol (NEAR) a good investment?

It is important to do comprehensive research before deciding whether NEAR Protocol (NEAR) or any other cryptocurrency is a good investment. We believe you should ask each of these questions before deciding to invest or make partnerships with any crypto project:

Is this type of digital asset considered legal in your country?

Does Coin (NEAR Protocol NEAR) solve a good problem or offer the best solution?

Do products and services work effectively, and solutions are scalable?

Does the team have a realistic roadmap and can catch up with it?

Does NEAR Protocol (NEAR) have reasonable and sustainable revenue income models?

Can the team market their products and services well?

How decentralized is the governance and how strong is the community?

Has it reached its fair market value yet?

Does the coin/token have enough trading pairs and liquidity?

As the OGAudit community crypto experts, we evaluate crypto projects by asking each of these questions and more, to provide objective and reliable comments and ratings for the end-user, investors, and institutions. By carefully considering these reviews, ratings, and price action, you can decide whether NEAR Protocol (NEAR) is a good crypto to invest in or not. To access these evaluations and ratings please click here . The OGAudit experts are the largest, most experienced, and elite users in the crypto space. However, keep in mind that the scores, expert reviews and comments on our platform are OGAudit users’ personal views and meant for educational purposes only. None of the information we publish on our website contains any investment advice and should not be perceived as such. Always -DYOR- do your own research well.

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