Cryptocurrencies have fundamentally altered the financial landscape, providing decentralized and innovative solutions for payments, asset management, and digital contracts. Among the numerous cryptocurrencies, NEAR Protocol (NEAR) stands out due to its unique features and strong focus on scalability, usability, and developer-friendliness. As we look ahead, examining the potential price trajectory of NEAR and its viability as a long-term investment becomes increasingly important for both novice and seasoned investors.
NEAR Protocol, launched by the NEAR Collective, has consistently attracted attention due to its technological advancements and strong emphasis on creating an efficient environment for decentralized applications (DApps). This article explores NEAR’s price predictions for 2024, 2025, 2030, and 2035, providing an in-depth analysis of its prospects and whether the NEAR protocol is worth holding.
Cryptocurrency Overview
What Is NEAR Protocol (NEAR)?
NEAR Protocol is a layer-one blockchain designed as a community-run cloud computing platform that addresses some of the limitations found in competing blockchains, such as low transaction speeds, low throughput, and poor interoperability. NEAR provides an ideal environment for DApps and creates a developer and user-friendly platform. Notably, NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum, and introduces unique solutions to scaling problems with its own consensus mechanism called “Doomslug.”
NEAR Protocol is being built by the NEAR Collective, a community that continually updates the initial code and releases improvements to the ecosystem. Its declared goal is to create a platform that is “secure enough to manage high-value assets like money or identity and performant enough to make them useful for everyday people.”
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Who Are The Founders Of NEAR Protocol?
NEAR Protocol was founded by Erik Trautman, an entrepreneur with Wall Street experience and founder of Viking Education. His co-founders include Illia Polosukhin, who has more than ten years of industry experience, including three years at Google, and Alexander Skidanov, a computer scientist who previously worked at Microsoft and later joined memSQL, where he became the director of engineering. NEAR Protocol has an extensive team of experienced developers, including several International Collegiate Programming Contest (ICPC) gold medalists and winners. The team claims to have people with experience in building some of the only real-world sharded systems at scale, a solution the protocol is pursuing to improve blockchain scalability.
What Makes NEAR Protocol Unique?
NEAR uses its Nightshade technology to significantly improve transaction throughput. Nightshade is a variation of sharding, where individual sets of validators process transactions in parallel across multiple sharded chains, thereby enhancing the overall capacity of the blockchain. Unlike traditional sharding, Nightshade shards produce a fraction of the next block, called “chunks.” This approach allows NEAR Protocol to achieve up to 100,000 transactions per second and near-instant transaction finality thanks to a one-second block cadence, all while maintaining virtually zero transaction fees.
How Many NEAR Protocol (NEAR) Coins Are There in Circulation?
The total supply of NEAR is 1 billion tokens, distributed as follows:
- 17.2% – Community Grants
- 11.4% – Operation Grants
- 10% – Foundation Endowment
- 11.7% – Early Ecosystem
- 14% – Core Contributors
- 17.6% – Backers
- 6.1% – Small Backers
- 12% – Community Sale
NEAR Protocol launched its mainnet on April 22, 2020, with 1 billion NEAR tokens created at genesis. An additional 5% supply is issued each year to support the network as epoch rewards, with 90% going to validators (4.5% total) and 10% to the protocol treasury (0.5% total). Furthermore, 30% of transaction fees are rebated to contracts interacting with a transaction, while the remaining 70% are burned.
How Is the NEAR Protocol Network Secured?
NEAR uses a variation of the proof-of-stake consensus mechanism called Doomslug. Doomslug is based on two rounds of consensus, where a block is considered finalized as soon as it receives the first round of communication. This enables near-instant finality by having validators take turns producing blocks rather than competing directly based on their stake. The NEAR Foundation, a Swiss-based non-profit, is dedicated to protocol maintenance, ecosystem funding, and guiding the protocol’s governance. NEAR Protocol has also built a bridge to Ethereum, allowing users to transfer ERC-20 tokens from the Ethereum blockchain to NEAR.
NEAR Protocol (NEAR) Price Predictions by Year
Price Prediction Table
| Year | Maximum Price | Average Price | Minimum Price |
|---|---|---|---|
| 2024 | $8.00 | $7.00 | $6.50 |
| 2025 | $12.00 | $10.00 | $9.00 |
| 2030 | $15.00 | $13.00 | $10.00 |
| 2035 | $18.00 | $16.00 | $15.00 |
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Detailed Yearly Predictions
2024: Max – $8.00, Avg – $7.00, Min – $6.50
In 2024, NEAR Protocol is expected to experience moderate growth, driven by ongoing technological advancements and increased adoption of its scalable blockchain solutions. Factors such as strategic partnerships, expanding DApp ecosystem, and improvements in network infrastructure will play crucial roles in influencing NEAR’s price. Regulatory developments and broader market sentiment towards cryptocurrencies will also impact its valuation.
2025: Max – $12.00, Avg – $10.00, Min – $9.00
By 2025, NEAR Protocol could see substantial growth as the adoption of blockchain technology accelerates across various industries. NEAR’s focus on scalability and user-friendliness may attract more developers and enterprises to its platform, further enhancing its utility and value. Successful integrations with other blockchains, enhanced interoperability, and increased usage in decentralized finance (DeFi) and non-fungible tokens (NFTs) will likely contribute to price appreciation.
2030: Max – $15.00, Avg – $13.00, Min – $10.00
In 2030, NEAR Protocol’s price could see significant appreciation as blockchain technology becomes more integrated into mainstream applications. The platform’s high transaction throughput, low fees, and developer-friendly environment may attract large-scale enterprise adoption. Additionally, the rise of Web3 and decentralized applications could further bolster NEAR’s value. Regulatory clarity and global acceptance of cryptocurrencies as a legitimate asset class will also be crucial in driving this growth.
2035: Max – $18.00, Avg – $16.00, Min – $15.00
Looking ahead to 2035, NEAR Protocol has the potential to become a leading platform for decentralized applications and blockchain solutions. Its robust infrastructure, combined with strategic partnerships and technological advancements, could position NEAR as a preferred choice for developers and enterprises. As a result, NEAR’s price could reach new heights, reflecting its utility and widespread adoption. However, it’s important to note that the cryptocurrency market is highly volatile, and various factors, including market sentiment and regulatory changes, can influence prices.
Buying Guide
Step-by-Step Guide to Buying NEAR Protocol (NEAR)
- Choosing an Exchange: To purchase NEAR, you need to select a cryptocurrency exchange. Popular exchanges that support NEAR include Binance, KuCoin, and Gate.io. Consider factors such as fees, security, and user interface when choosing an exchange.
- Setting Up an Account: Once you have chosen an exchange, create an account by providing your personal information and completing the verification process. This may involve submitting identification documents and proof of address.
- Selecting Payment Methods: After your account is set up and verified, you need to link a payment method. Most exchanges accept bank transfers, credit/debit cards, and sometimes even PayPal. Choose the method that best suits your needs.
- Purchasing NEAR: With your account funded, navigate to the NEAR trading pair (e.g., NEAR/USD or NEAR/BTC) and place an order. You can choose between a market order (buying NEAR at the current market price) or a limit order (buying NEAR at a specific price).
- Storing NEAR Securely: Once you have purchased NEAR, it’s essential to store it securely. While you can keep your NEAR in the exchange wallet, transferring it to a private wallet, such as a hardware wallet or a mobile wallet like Trust Wallet or Ledger, provides enhanced security, especially for long-term holding.
How Can Crypto Investors Use NEAR Protocol (NEAR)?
Buy and Hold
One common strategy for crypto investors is to buy and hold NEAR, anticipating its value will increase over time. This approach is suitable for those who believe in NEAR’s long-term potential and want to benefit from the platform’s growth.
Trade
Active traders can buy and sell NEAR on cryptocurrency exchanges, taking advantage of price fluctuations to make a profit. This strategy requires a good understanding of market trends and technical analysis to make informed trading decisions.
Use the Platform
Investors can also use the NEAR platform to engage in various activities, such as developing and deploying DApps, participating in the ecosystem, and staking NEAR to earn rewards. Developers can leverage NEAR’s robust infrastructure to create innovative solutions and potentially earn additional tokens as payment for their contributions.
Frequently Asked
Questions
Does NEAR Protocol Have a Future?
Yes, NEAR Protocol has a promising future due to its innovative approach to scalability, user-friendliness, and strong community support. Its emphasis on creating an efficient environment for DApps and its ongoing technological advancements position it well for long-term success.
Will NEAR Protocol (NEAR) Reach $18?
Based on current projections, it is possible for NEAR to reach $18 by 2035, considering the anticipated growth in blockchain adoption and NEAR’s unique features. However, it’s important to remember that cryptocurrency prices are highly volatile and influenced by numerous factors, including market sentiment and regulatory developments.
Is NEAR Protocol Secure?
NEAR Protocol employs a robust security framework, including the Doomslug consensus mechanism, to ensure the network’s safety and integrity. The NEAR Foundation oversees protocol maintenance and governance, while the platform’s design prevents double-spending and other malicious activities. Additionally, the transparency of transactions and reputable validators enhance the network’s security.
Further Outlook
In summary, NEAR Protocol presents a compelling investment opportunity due to its unique features, strong focus on scalability, and developer-friendly environment. The price predictions for 2024, 2025, 2030, and 2035 indicate potential for significant growth, driven by increased adoption, technological advancements, and strategic partnerships. However, it’s crucial to recognize the inherent volatility and unpredictability of the cryptocurrency market. Investors should stay informed, conduct thorough research, and consider their risk tolerance before investing in NEAR. As the market evolves, keeping an eye on regulatory developments and industry trends will be essential for making informed investment decisions.
