NEAR Protocol (NEAR) Wallet

About NEAR Protocol

• What is NEAR Protocol?

  NEAR Protocol is a public Proof-of-Stake (PoS) blockchain with smart contract capabilities, which was conceptualized as a community-run cloud computing platform. It was built by the NEAR Collective and designed to host decentralized applications (DApps), aiming to compete with Ethereum and other smart contract-enabled blockchains. NEAR Protocol's native token is called NEAR. It is used for transaction fees and storage, with token holders able to stake NEAR tokens to achieve network consensus as transaction validators. To create a user and developer-friendly platform, NEAR Protocol has incorporated human-readable account names, cryptographic wallet addresses, and easy interaction for new users with dApps and smart contracts. As dApps gain popularity, scalability has become an issue, with NEAR Protocol proposing a solution to this problem by implementing sharding. It's essential to understand that blockchain nodes have three primary functions: processing transactions, communicating validated transactions and completed blocks to other nodes, and storing the state and history of the entire network. As network congestion increases, these tasks become increasingly demanding for nodes.

• Is NEAR Protocol on mainnet?

  NEAR Protocol utilizes multiple networks with unique states and independent validators, including mainnet, testnet, betanet, and localnet. Mainnet is the production-ready network for smart contracts and live token transfers, with contracts subject to rigorous testing and independent security reviews. It is the only network where the state can persist over time. Testnet, on the other hand, is the final testing network for nearcore changes before deployment to the mainnet. It is a public network intended for testing all aspects of the NEAR platform, closely resembling mainnet behavior, with nearcore changes deployed as release candidates on the testnet before releasing on the mainnet. DApp developers can deploy their applications on the testnet before deploying on the mainnet, as the testnet has its transactions and states.

• What are the benefits of using NEAR Protocol (NEAR) Wallet?

  NEAR Protocol (NEAR) Wallet offers several benefits for users, including secure storage of your NEAR tokens using industry-standard encryption. Additionally, it provides easy access to your tokens, allowing you to view your balance and transaction history with just a few clicks. You can also send and receive NEAR tokens to and from other wallets, making it easy to manage your cryptocurrency transactions. NEAR Protocol (NEAR) Wallet is well integrated with other NEAR Protocol DApps, allowing you to participate in the NEAR Protocol ecosystem and utilize your NEAR tokens on the NEAR blockchain fully.

• What are the trending DApps on NEAR Protocol?

  As the NEAR ecosystem grows, many exciting projects are building on the NEAR Protocol blockchain. For instance, Mintbase is an NFT platform that allows for creating, managing, and trading digital collectibles, NFT collections, and other assets on the NEAR protocol. Satori.art, another NFT project, helps current entities transition into the world of Web3 seamlessly, rather than being an NFT marketplace like Mintbase. Additionally, Sweatcoin, a walking Move-to-Earn app, rewards users for their daily steps with two different currencies: an in-app currency that can be used in the Sweatcoin store and Sweatcoin (SWEAT) on the NEAR protocol that can be staked, spent on various products, or donated to charity. This mobile app promotes a healthy lifestyle using the step counter feature on iOS or Android devices to reward users with coins for their efforts.

• How to use NEAR Protocol (NEAR) Wallet?

  The simplest way to start using NEAR Protocol is by creating a NEAR Protocol (NEAR) Wallet in Bitget Wallet, which can be installed via Google Play, App Store, or a Chrome extension. After installation, create a crypto wallet on the NEAR Protocol mainnet and start making transactions or purchasing NEAR tokens via OTC. You can then explore the NEAR protocol ecosystem through the Bitget Wallet DApp section, which supports various DApps, including DeFi, NFT, exchange, and tools.