NEST’s price reached its all-time high price in August 2020 where it showcased 6.78 times growth in just one month. Keeping that growth in mind, NEST’s price can reach $1 in just 6.4 months.
However, it is not at all practical considering the current market conditions of liquidity and other economic factors. Moreover, NEST’s price suddenly spiked during that period and the hike wasn’t primarily because of its use cases.
Therefore, NEST crypto can reach $1 perhaps in the next 5-10 years with improved liquidity conditions and use cases.
Latest NEST Protocol Price
| Metric | Last 24 Hours | Trend |
|---|---|---|
| Net Social Media Sentiment | 100.0% | Steady |
The NEST Protocol is an innovative system designed to collect price information from various sources and smart contracts through oracles, addressing the challenges of random variables and distribution transformation in on-chain programming. Utilizing a “Quote mining” mechanism, NEST ensures synchronization between on-chain prices and off-chain data, promoting a balanced network distribution and the trustless concept of DeFi.
Components of the NEST protocol include
The NEST protocol, however, introduces a new economic system for building efficient markets, employing the OMM mechanism to facilitate trading against the NEST contract without counterparty matching. The Probabilistic Virtual Machine (PVM) generates on-chain stochastic assets, significantly reducing contract development workloads.
The NEST protocol’s native token, NEST coin, has a maximum supply of 10 billion and a complex tokenomics structure. The NEST game network comprises four aspects: arbitrager-verifier games, buyer-seller games, system-investor games, and risk sharing among token holders. As stochastic assets are generated, the total supply of NEST coins decreases, potentially driving up the token’s value over time.
NEST coins serve various use cases within the protocol, such as providing incentives and fulfilling liquidity requirements.
As we have discussed the NEST protocol is a decentralized oracle that is based on the Ethereum blockchain and it provides creative solutions regarding price prediction.
Note that the NEST protocol verifies the price of the asset to ensure the authenticity and accuracy of the information along with avoiding the risks of centralization.
NEST protocol is often compared with Chainlink and MakerDAO. Chainlink is also a decentralized oracle network and allows blockchains to interact securely.
Though the business models of all protocols are slightly different, their dependence on Oracle networks makes these networks pretty similar.
Near Protocol Price Prediction 2023-2030
NEST protocol differs from Chainlink and MakerDAO on the basis of the type of Oracle machine used. Note that Oracle machines are used to synchronize the data between the off-chain (or real-world) world and the blockchain. In simple words, with the help of oracles, smart contracts can react to the real world. Let us have a look at three different types of Oracle machines used in these three protocols:
| NEST protocol | Chainlink | MakerDAO | |
| Type of Oracle machine | NEST protocol represents the “price fact” oracle machine | It uses bilateral asset quotes from the miners and combines these with NEST quote mining to generate the on-chain facts of the blockchain. Here the miners take real money for participating in quoting. | MakerDAO uses the “Alliance” oracle machine. |
| Working | It collaborates between on-chain contracts and off-chain distributed nodes for work order distribution. It uses a reward and punishment mechanism to feed the data. | It collaborates between on-chain contracts and off-chain distributed nodes for work order distribution.It uses a reward and punishment mechanism to feed the data. | It collaborates between on-chain contracts and off-chain distributed nodes for work order distribution. It uses a reward and punishment mechanism to feed the data. |
| Features | It provides accuracy and sensitivity and facilitates a direct mechanism to verify the data. | It is in line with decentralization. However, its data validation is not direct. | It has a high risk of centralization. |
IDEX Price Prediction 2023-2030
Band Protocol Price Prediction 2023-2030: Will Band Protocol reach $1000?
UTC: Feb 23rd, 2024 06:43 PM
| Overall Outlook | Neutral |
| 1. Market’s Wisdom | Partially Bearish |
| 1a. Market Data | Partially Bearish |
| 1b. Technical Recommendation | Neutral |
| 2. Crowd’s Wisdom | Neutral |
| 2a. Social Media Buzz | Steady |
| 2b. Social Media Sentiment | Steady |
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Note: collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.
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