NEAR SCAM OR LEGIT? NEAR TOKEN REVIEW

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Metaglobal

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What is NEAR Protocol (NEAR) Token?​

NEAR Protocol (NEAR) is the native token of the NEAR ecosystem. It’s an ERC-20 token with a max supply of 1 billion. NEAR Protocol (NEAR) can be used for paying transaction and storage fees on the network. Also, smart contract developers can receive a portion of the transaction fees their contract generates. To keep NEAR scarce, the remaining transaction fees will be burned.

Token holders can stake on the NEAR Wallet to earn rewards too. They stake NEAR to run validating nodes for rewards that amount to 4.5% of the total NEAR supply. They can also participate in the governance of the NEAR network by voting on decisions and submitting proposals related to the platform and products.

Near Token Distribution

NEAR Token Use Case​

Near coins will be used for the following purposes:
  • Pay fees for transaction processing and data storage systems.
  • Run Node authentication, Staking To earn rewards.
  • Participate in ecosystem management.

Pros and Cons​

Let’s look at some of the benefits and drawbacks of NEAR to see if it is a scam or not

PROSCONS
NEAR is a large competitor for Ethereum because it has improved on key technologiesNEAR is in direct competition with other well-established projects
NEAR uses advanced sharding technology that makes it infinitely scalable Lack of support. Near Protocol is still a new protocol and lacks the support of major exchanges and wallets. It may be difficult to find places to buy and sell Near tokens.
NEAR is open-source and welcomes anyone Complexity. TheNear protocol is more complex than some other protocols. This can make it more difficult for users to understand how it works.
Gas fees are much lower with NEAR than they are on Ethereum

Do you think that NEAR is a scam? Let us know in the comment section below.
 

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