Aurora, an Ethereum-based Layer 2 solution that provides developers and users with the Ethereum experience in addition to NEAR Protocol, a scalable blockchain-based developer platform, has officially launched. Aurora combines two technologies to create a seamless experience: a fully functional Ethereum Virtual Machine (EVM) and a powerful cross-chain bridge.
Ethereum’s transaction fees have hit record highs due to increased network activity …
To get around these growing costs, Aurora caps gas charges to ensure they don’t go up indefinitely and maintains average transaction costs of a few cents. Aurora manages to cut costs while radically speeding up transactions, achieving finality within two seconds.
The Aurora solution allows developers to deploy existing Solidity and Vyper contracts without changes, while users can seamlessly access these applications using MetaMask and other Ethereum wallets. At the same time, ERC-20 tokens and contract data can be transferred from the trustless from Ethereum to Aurora Aurora Bridge (based on the rainbow bridge).
“With Aurora, Ethereum users can work with familiar applications while benefiting from the efficiency of NEAR, removing a steep financial barrier to entry for users and developers. Our goal is to create an interoperable future that will bridge the gaps between blockchains, developers and users. Aurora does just that by delivering a seamless user experience and allowing assets to move continuously between the Ethereum and NEAR blockchains. “
– Illia Polosukhin, co-founder of the NEAR protocol
Aurora is fully compatible with Ethereum 1.0; including the basic fees paid in the ETH and ready for immediate use with all existing wallets and other tools. To use Aurora, check out aurora.dev.