What Is NEAR Protocol (NEAR)?

NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. This provides the ideal environment for DApps and creates a developer and user-friendly platform. For instance, NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism called “Doomslug.”

NEAR Protocol is being built by the NEAR Collective, its community that is updating the initial code and releasing updates to the ecosystem. Its declared goal is to build 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.”

Flux, a protocol that allows developers to create markets based on assets, commodities, real-world events, and Mintbase, an NFT minting platform are examples of projects being built on NEAR Protocol.

Who Are the Founders of NEAR Protocol (NEAR)?

NEAR Protocol was founded by Erik Trautman, an entrepreneur with experience on Wall Street and founder of Viking Education. His co-founders were Illia Polosukhin, who has more than ten years of industry experience, including three years at Google, and Alexander Skidanov, a computer scientist that worked at Microsoft and went on to join memSQL, where he became the director of engineering. NEAR Protocol has an extensive team of experienced developers that includes several International Collegiate Programming Contest (ICPC) gold medalists and winners. The team claims to have people with experience of 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 (NEAR) Unique?

NEAR uses its Nightshade technology to improve transaction throughput massively. Nightshade is a variation of sharding, in which individual sets of validators process transactions in parallel across multiple sharded chains, improving the overall capacity of the blockchain. In contrast to “regular” sharding, shards in Nightshade produce a fraction of the next block, called “chunks.” In doing so, NEAR Protocol is able to achieve up to 100,000 transactions per second and achieve near-instant transaction finality thanks to a one-second block cadence while simultaneously keeping transaction fees at virtually zero.

NEAR Protocol also improves upon the convoluted onboarding process of other blockchains by having human-readable addresses and building decentralized applications with similar registration flow to what users have already experienced. Moreover, it provides developers with modular components, helping them start projects like token contracts or NFTs more quickly.

Summary

The highest daily NFT sales during last month was on 18 Oct with 48.5K. also the highest number of buyers was on this day with about 22.8K.
but the highest daily USD volume was on 1 Nov with about 48.3M USD.
Ethereum has experienced about 1M NFT transactions during last month.
Ethereum has experienced about 799M USD NFT USD Volume during last month.
Ethereum has experienced about 559K NFT Buyers during last month.
The Otherside project is the most popular collection during last month with about 8.9K transactions. also, this collection has 46% proportion of all transactions.
But in terms of USD volume The Dreadfulz collection is the most popular collection with the highest volume of USD with about 65.8M USD. moreover, this collection has 17.5% ratio of all USD Volume.
also Otherside collection has the highest buyers with about 3K buyers. moreover, this collection has 38% ratio of all buyers.
During last month, Ethereum has experienced 1.9M Mint transactions while Ethereum only has 1.06M sales transactions. also mint transaction has 64% mint transactions and 34% ratio belongs to Sales transactions.
During last month, Ethereum has experienced 63.7B USD Mint USD Volume while Ethereum only has 800M USD Volume sales USD Volume. also mint USD Volume has 99% all USD Volume and 1% ratio belongs to Sales USD Volume.
the highest number of daily mint transactions was on 31 Oct with about 96.5K and the most number of sales transactions was on 18 Oct with about 48.5K.
the highest USD volume of daily mints volume was on 29 Oct with about 3.9B USD.
Near experienced the highest daily NFT transactions was on 10 Nov with about 24K. and after it 3 Nov with about 16.5K transactions had the second place. this is attractive when you realize this number was after FTX and Alameda Crash.
The highest number of Mint transactions on Near was on 10 Nov with about 20K mint transactions and after it 3 Nov 16.2K.
Totally Near has experienced 65K NFT transactions during last month. also, Near has 45.5K transactions as NFT Mint transactions and about 19.5K as Sales NFT transactions.