- News of partnership with Terra earlier this week has boosted gains.
- NEAR employs Doomslug, a proof-of-stake consensus variant.
As the day unfolds, there has been a significant increase in trading volume and price movement for NEAR Protocol. Before today’s revelation, NEAR had a loyal following. Most cryptocurrencies and tokens are up a few percent; some have gained much more due to favorable headlines, acquisitions, or increased purchasing. The crypto asset class is off to a good start today.
NEAR Protocol, a layer-one blockchain developed as a community-run cloud computing platform that overcomes problems including slow transaction rates, limited capacity, and poor compatibility. NEAR Protocol developments include Flux, which lets developers design markets based on assets, commodities, and real-world events, and Mintbase, an NFT minting platform.
Partnership With Terra
Moreover, NEAR employs Doomslug, a proof-of-stake consensus variant. Doomslug uses two rounds of consensus, with a block being deemed finished after the first communication cycle. Rather than competing on stake, validators take turns creating blocks, allowing for near-instant finality.
While NEAR is gaining popularity among investors interested in Ethereum alternatives or Web 3.0, news of partnership with Terra earlier this week has boosted gains. As investors absorb the news and replenish the protocol’s capital, they look for NEAR Protocol price projections to see where their investment may go in the next year.
The NEAR Foundation, a Swiss non-profit committed to protocol maintenance, ecosystem financing, and protocol administration. The protocol also allows users to send ERC-20 tokens from Ethereum to NEAR. According to CoinMarketCap, the NEAR Protocol price today is $13.14 USD with a 24-hour trading volume of $1,836,433,492 USD. NEAR Protocol is up 33.12% in the last 24 hours.
