Earn free NEAR tokens on Coinbase

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Written by

CryptoMasterMiner

DeFi Yield Farmer Liquidity Provider Crypto Lender, Miner, Investor & Blogger

2 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Topics: Cryptocurrency, Coinbase, NEAR, Near Protocol

Coinbase is one of a few central exchanges I use, not a lot, but it is nice to earn some free tokens every once in awhile. They have just added the NEAR Protocol lesson to earn more free crypto so why not. This will just be a short little article to let you know about NEAR and earn some yourself.

There are three lessons in total, each taking about a minute to complete.

What is NEAR? (hint - a simple, fast, secure and climate neutral blockchain)
What is the NEAR token? (hint - to interact with apps and participate on governance on NEAR)
Building with NEAR (hint - natural language like dave.near)

The NEAR Protocol (NEAR) token has been around a few years and is the 28th ranked coin in terms of market capitalization according to CoinGecko. It has a market cap of nearly $3B and a circulating supply of 800 Million NEAR coins and a total supply of 1 Billion. It was added to Coinbase's listing roadmap in August and had an immediate 12% jump in price.

The NEAR Protocol is a climate friendly blockchain certified carbon neutral by South Pole, the industry lead in carbon offsetting solutions. They use the eco-friendly POS (proof-of-stake) mechanism to secure their layer one blockchain. Near uses a rather unique scaling mechanism to build in scalability to bring in users making it faster, cheaper and more secure than competing blockchains.

How fast is NEAR? Try 100,000 transactions per second (TPS) which they expect once fully implemented using their sharding technology. Compare that to Ethereums largest competitor Solana which processes less than 3,00 transactions per second. Or in the real world, Visa typically can process between 7,000-8,000 transactions per second. Essentially, rather than dividing up validators responsibilities like others, Near divides their actual blockchain into smaller pieces to achieve such speeds in what it terms "Nightshade" sharding. This also helps them achieve “infinite scalability” on the network so they can grow in an uninhibited fashion.

They offer their own wallet making it easy to onboard new users. NEAR is a very developer friendly blockchain that has created a platform to build all sorts of dApps (decentralized applications). This should lead to a pathway of innovation and growth on the network going forward.

The NEAR Foundation has recently announced a partnership with Google in which Google Cloud will support Near developers in building and scaling their Web3 projects and DApps.

Videos Explaining the NEAR Protocol