What is the use of NEAR coin? The concept, value and practical application of NEAR coin

With NEAR Coin (NEAR), developers can build decentralized applications with Web2-like features and leverage the benefits of Web3 infrastructure.

Oct 02, 2024 at 04:36 am

What is NEAR Coin?

Concept:NEAR Coin (NEAR) is a native cryptocurrency of the NEAR Protocol, a sharded-blockchain platform focused on scalability, speed, and user-friendliness. NEAR aims to empower developers to build decentralized applications (dApps) with features comparable to Web2 applications while maintaining the benefits of Web3 infrastructure.
Value:NEAR Coin serves several key functions within the NEAR Protocol ecosystem:
- Transaction Fees: NEAR is used to pay transaction fees on the NEAR Protocol network. These fees cover the computational resources required to execute transactions and support the network's infrastructure.
- Governance: NEAR holders can participate in governance decisions by staking their coins. This allows them to influence protocol upgrades, roadmap changes, and future development.
- Staking: Users can stake NEAR coins to support the network's validators, earning rewards in return. This incentivizes participation in the network and contributes to its security and reliability.
Practical Applications:NEAR Coin has enabled various practical applications within the NEAR Protocol ecosystem:
- dApps: NEAR facilitates the development and deployment of innovative dApps across multiple industries, including finance, gaming, social media, and healthcare.
- Smart Contracts: NEAR's smart contract capabilities empower developers to create automated, secure, and transparent agreements.
- Cross-Chain Transactions: NEAR supports interoperability with other blockchain platforms through cross-chain bridges, allowing for seamless asset transfers and interactions with different ecosystems.
- Web3 Integration: NEAR integrates with Web2 applications and infrastructure, enabling developers to utilize Web3 functionalities within existing Web2 frameworks.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

BAS

$0.1058

129.23%

Trade Now
COAI

$14.02

126.35%

Trade Now
4

$0.2133

43.96%

Trade Now
YGG

$0.2026

36.53%

Trade Now
SHFL

$0.4689

27.99%

Trade Now
ZORA

$0.1104

27.77%

Trade Now

Latest Crypto News

Dogecoin vs. Remittix: A Tale of Two Cryptos and the Price Outlook
2025-10-15 14:25:17
ZORA, BTC, and Zcash: Riding the Crypto Rollercoaster with Robinhood and Whale Watching
2025-10-15 14:25:17
Circle, USDC, and Stablecoins: A New Era for Payments in the Big Apple and Beyond
2025-10-15 15:25:13
Solana, Whales, and ETF Decision: What's the Buzz?
2025-10-15 15:25:13
Cardano Price, HBAR News, and the Hunt for the Next Crypto 100x
2025-10-15 15:30:01
FCA, Tokenization, and Crypto Funds: Navigating the Future of Finance in the UK
2025-10-15 15:45:12

Related knowledge

What is Ethereum’s Slashing mechanism and how to punish malicious behavior?

Feb 20,2025 at 03:08am

Key PointsOverview of slashingDifferent types of slashing in EthereumIncentives and consequences of slashingIdentifying and reporting slashed validato...

What is the verifier node of Ethereum and how to become a verifier?

Feb 19,2025 at 06:00pm

The Verifier Node of Ethereum: A Comprehensive GuideKey Points:What is a Verifier Node?How to Become a Verifier NodeResponsibilities and Rewards of a ...

What is Ethereum’s staking, and how to participate and earn money?

Feb 19,2025 at 04:37pm

Key Points:Understanding Ethereum's Staking MechanismSteps to Participate in StakingBenefits and Rewards of StakingSecurity and Risk ConsiderationsTec...

What is Ethereum’s DAO (Decentralized Autonomous Organization) and how does it work?

Feb 20,2025 at 03:12am

Key PointsDefinition and Structure of a DAOGovernance and Decision-Making in DAOsBenefits and Use Cases of DAOsChallenges and Limitations of DAOsWhat ...

What is Ethereum's multi-signature wallet and how to improve security?

Feb 20,2025 at 02:18pm

Key Points:Understanding the Concept of a Multi-Signature WalletBenefits and Drawbacks of Multisig WalletsRequirements for Setting Up a Multisig Walle...

What is Ethereum's oracle and how to provide data for smart contracts?

Feb 21,2025 at 01:30am

Key Points:Understanding the concept of oracles in EthereumExploring different types of oraclesDetailed guide on how to provide data for smart contrac...