Many people believe Bitcoin is the only cryptocurrency worth investing in. This article will go through what Near Protocol is, how it differs from other cryptocurrencies, and how to buy Near tokens.
What is Near Protocol?
Near Protocol is a blockchain-based social networking protocol that secures data and interactions with cryptographic hashes. Find out more about this new protocol here!
Near uses public-key encryption for authentication of content transmission, as well as for data storage with unique cryptographic hashing to secure information. Unlike most other blockchains, Neighbors also use asymmetric encryption to encrypt the content of their messages before they are transmitted over a network connection. This gives Neighbors the unique ability to effectively encrypt data, which we will discuss further in the following sections.
What’s possible with Near Protocol?
Neighbors can use Near Protocol to enhance their online experience by having more control over their data while they are online. For example, people using Near Protocol can give out more personal data to third parties and still have it encrypted before it is sent off over the network. Neighbors can also send encrypted messages to other Neighbors without having them read their messages.
Now that you know what Near Protocol is, here’s how you can buy some tokens.
You decide to buy Near Protocol tokens to get in early on the blockchain adoption boom that is near. First purchase Ethereum (ETH) at an exchange like Coinbase or Kraken. Need Ethereum to make an account on a project like Kyber Network or Ethfinex. Where you will exchange your ETH for NEO and then tokenize it into NG. (These projects will be explained later in this article. If you don’t understand these 3rd party projects, don’t worry about them for now.
Once Your Ethereum
It is tokenized, you head to an exchange like Liqui to trade NEO. For the number of Near Protocol tokens that you want. You again need to do some research on the different exchanges and their fees. If you’re not sure how many tokens you want. Then I suggest using a site that allows you to get price feeds. From multiple exchanges at once (you can find these sites easily online).
After you’ve bought all the tokens you want, it’s time to transfer them to the mainnet. You will need to open a wallet where you can hold your tokens. There are many mobile wallets that give you a cold-storage option. A cold-storage wallet is exactly as it sounds. A wallet that doesn’t keep your crypto on an exchange like Coinbase or Binance.
What is the difference between Ethereum and NEO?
Outside of the blockchain, NEO is NEO Smart Economy and is an all-in-one platform designed to support an economy based on the development of digital assets, where users can more easily manage their assets. In contrast, Ethereum aims to be a pioneer in Dapps by using its own Turing complete programming language (Solidity) within its own blockchain. In this way, it has grown into what could be called a “smart contract platform”. NEO describes itself as a project that aims to implement and utilize various new ideas regarding cryptocurrencies inspired by Ethereum. This includes both smart contracts and developing a new consensus algorithm for cross-blockchain distributed applications.
