Try Quests to earn NEARCentralized Exchange Activity in Near
I'll track the Activity of Centralized Exchanges (CEX) in Near, showcasing in detail their Activity.
You can use the parameter "Time" to change the date aggregation and range, with "Day" showing the data from the past 31 days, "Week" the data from 93 days, "Month" the data since 2022, and "Quarter" the data from 2 Years.
Chart Analysis is made using Time = Month.
Centralized cryptocurrency exchanges (CEXs) act as an intermediary between a buyer and a seller and make money through commissions and transaction fees. You can imagine a CEX to be similar to a stock exchange but for digital assets.
CEXs operate using an order book system, which means that buy and sell orders are listed and sorted by the intended buy or sell price. The matching engine of the exchange then matches buyers and sellers based on the best executable price given the desired lot size. Hence, a digital asset’s price will depend on the supply and demand of that asset versus another, whether it be fiat currency or cryptocurrency.
Thanks to the CEXs people can buy and sell crypto assets using their own national currency which is commonly called Fiat Money.
Near Protocol is a Public Proof-of-Stake (PoS) Blockchain
- Aims to bring decentralization finance (DeFi) to the masses with low transfer fees and fast transactions.
- With their sharding technology (Nightshade) they achieve speed and scalability.
- Uses PoS consensus to secure and validate transactions on the blockchain.
- In Proof-of-Stake, users show support to specific network validators by delegating NEAR tokens to them. This process is known as staking. The main idea is that, if a validator has a large amount of tokens delegated is because the community trusts them, and these validators can validate block transactions and add more blocks to the Blockchain.
- Validators earn NEAR Token rewards for producing new blocks in the form of a static inflation rate of about 4.5% each year.
- Stakers get rewarded in the form of that token, too. The token’s all-time highest price was $20.44 in January 2022.
Sources: Coindesk, Near blog, The Defiant, Nightshade
