NEST Protocol NEST

Rank ?

$ 0.05786477 +2.21%

NEST Protocol Price (NEST)

NEST Protocol to USD Price Chart

What Is the Current Price of NEST Protocol (NEST)?

The current price of NEST Protocol (NEST) is at approximately $$ 0.05786477. It's important to note that cryptocurrency prices are highly volatile and can change rapidly within short periods.

What Is NEST Protocol (NEST)?

NEST Protocol is a blockchain-based platform that aims to provide a decentralized finance (DeFi) solution. It focuses on creating a transparent and tamper-proof pricing mechanism for financial instruments. By utilizing the blockchain, NEST Protocol intends to offer a more reliable and independent price oracle that can be integrated into a variety of DeFi products and services.

Who Created NEST Protocol?

The NEST Protocol was developed by an anonymous team of developers who are proponents of the decentralized finance movement. They saw the need for a more secure and reliable pricing system within the crypto industry, particularly in the DeFi space, which led to the creation of NEST Protocol.

How Does NEST Protocol Work?

NEST Protocol works by creating a network of nodes that provide price quotations for various cryptocurrencies. These nodes have to stake NEST tokens to participate, ensuring their skin in the game. Each node quotes prices by first injecting liquidity into a quote mining transaction, which is then left to be verified for a specific time frame. As these transactions are completed, the NEST Protocol assumes a consensus price based on the data provided, which is then used by DeFi platforms.

What Makes NEST Protocol Unique?

NEST Protocol's unique feature is its decentralized oracle network that provides a more reliable source of price data for DeFi platforms. Unlike centralized oracles that rely on a single source for price information, NEST's decentralized approach minimizes risk and bias in price feed. This ensures that the price data is not manipulated and is truly reflective of market conditions.

How Does NEST Protocol Ensure Accurate Price Feeds?

NEST Protocol ensures accurate price feeds by requiring nodes to stake tokens and backing their price quotations with actual assets. This not only incentivizes honest reporting but also allows for the price data to be verified by other participants before it is accepted as the consensus. The system is designed to be self-regulating and resistant to manipulation through economic incentives.

How Is the NEST Token Used?

The NEST token is integral to the NEST Protocol. It is used as the staking currency that nodes must stake in order to participate in the price quotation process. Additionally, it serves as a reward for nodes that contribute accurate data, and it's used to pay for services within the NEST ecosystem.

What Is the Market Capitalization of NEST Protocol?

As of the latest data, the market capitalization of NEST Protocol is $$ 101.2M. Its rank in terms of market cap among all cryptocurrencies is #1.

How Has the NEST Protocol Price Changed Recently?

In the past 24 hours, the price of NEST Protocol (NEST) has increased, showing a change of +2.21%. It's worth noting that prices can fluctuate frequently, so checking live updates is crucial for the most recent information.

How Can You Participate in the NEST Protocol?

To participate in the NEST Protocol, users can become nodes in the network, which requires holding and staking NEST tokens. With enough staked tokens, users can contribute by providing price quotes and potentially earn rewards for their contributions.

What Is the Total and Circulating Supply of NEST Tokens?

The total supply of NEST tokens is 10.0B. The circulating supply, which refers to the number of tokens currently available to the public and trading on the market, is 1.7B.

Where Can You Buy NEST Protocol (NEST)?

NEST Protocol (NEST) is available on various cryptocurrency exchanges. Interested parties can purchase NEST tokens on any of the that currently list it. As always, it’s important to do your due diligence and use reputable exchanges with robust security measures.

How to Keep Your NEST Tokens Safe?

Keeping your NEST tokens safe involves practicing good crypto hygiene. Use hardware wallets for the best security if you're holding NEST as a long-term investment. Always enable two-factor authentication and use unique, strong passwords for any online wallet or exchange accounts. Never share your private keys with anyone, and be cautious of phishing attempts and scam websites.

View similar coins

NEST Protocol Links

Recently Added Cryptocurrencies

LinqAI LogoLinqAI Jeo Boden LogoJeo Boden cat in a dogs world Logocat in a dogs world lmeow Logolmeow Brett LogoBrett NumberGoUpTech LogoNumberGoUpTech Fluence LogoFluence NodeAI LogoNodeAI

Crypto Pro - Crypto Tracker

Try our Crypto Pro app

Live Prices, Widgets, Alerts, Portfolio, Apple Watch app