NEAR-PROTOCOL
12.5.2021 14:02:10 CEST | Business Wire | Press release
Aurora, an Ethereum Layer-2 protocol that provides developers and users the experience of Ethereum on top of NEAR Protocol , a scalable blockchain-based developer platform, has officially launched. Aurora combines two pieces of technology to create a seamless experience: a full-featured Ethereum Virtual Machine (EVM) and a powerful cross-chain bridge. Developers can launch their Ethereum decentralized applications (dApps) on Aurora within minutes by linking to other Ethereum contracts and assets.
Due to increasing traffic in global network activity, Ethereum transaction fees have reached record highs. Aurora bypasses these growing costs by capping gas fees to ensure they do not infinitely increase, maintaining an average transaction cost of a few cents. Aurora manages to lower costs while radically speeding up transactions, which achieve finality within two seconds. Aurora lets developers deploy existing Solidity and Vyper contracts with no changes, while users can seamlessly access these applications using MetaMask and other Ethereum wallets. At the same time, ERC-20 tokens and contract data will be transferable from Ethereum to Aurora through the trustless Aurora bridge (based on the Rainbow Bridge). With low costs, best-in-class transaction finality, and scalability, Aurora redefines what is possible in the Ethereum ecosystem while also expanding NEAR’s ecosystem with the inclusion of every EVM-based application.
“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,” said Illia Polosukhin, Co-founder of NEAR Protocol. “Our goal is to create an interoperable future where the gaps between blockchains, developers and users are bridged. Aurora does just that by allowing for a seamless user experience and allowing for assets to pass uninterrupted between the Ethereum and NEAR blockchains, thereby merging economies and facilitating the development of creator communities that will bring this technology to the mainstream.”
Aurora is fully compatible with Ethereum 1.0, including base fees paid in ETH and out-of-the-box operability with all existing wallets and other tools. To start using Aurora, please visit https://aurora.dev .
About Aurora
Aurora is an Ethereum Layer-2 built on top of NEAR Protocol. Aurora delivers 1000x lower transaction fees compared to Ethereum and sub-two-second transaction finalization. Aurora is fully interoperable with Ethereum, with ETH used as a base token and all existing Ethereum tools usable out of the box. Aurora includes the trustless Rainbow bridge , allowing for bidirectional transfers of any information from Ethereum, including ERC-20s. To learn more about Aurora, please visit https://aurora.dev .
About NEAR Protocol
NEAR Protocol is a blockchain-based, ultra-scalable, developer-friendly platform for decentralized applications. NEAR’s platform provides decentralized storage and compute that is secure enough to manage high value assets like money or identity and performant enough to make them useful for everyday people, putting the power of the Open Web in their hands.
NEAR Protocol uses a technique called “sharding” which splits the network into multiple pieces so that the computation is done in parallel. Parallelism radically increases throughput and allows the network to scale up as the number of nodes on it increases. With NEAR, there isn’t a theoretical limit on the network’s capacity.
Core contributors of NEAR have won multiple world championships in competitive programming and worked at major tech companies such as Google, Facebook and Niantic. To learn more about the NEAR Protocol, please visit https://near.org .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210512005215/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Boomi Named a Visionary in the 2026 Gartner® Magic Quadrant™ for AI Agent Management Platforms5.11.2026 17:25:00 CET | Press release
Boomi governs agents, with flexibility across cloud, hybrid, and fully on-premises deployments behind the firewall. Boomi, the data activation company for AI, today announced it has been recognized as a Visionary in the 2026 Gartner® Magic Quadrant™ for AI Agent Management Platforms. Boomi delivers agent management capabilities through the Agent Control Plane. Boomi believes this placement reflects its approach to solving one of the biggest hurdles in turning AI into ROI, by providing critical AI infrastructure that connects, governs, and controls AI costs across agents and skills from native and third-party providers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261105515847/en/ Boomi Named a Visionary in the 2026 Gartner® Magic Quadrant™ for AI Agent Management Platforms Key Takeaways Boomi has been recognized as a Visionary in the 2026 Gartner® Magic Quadrant™ for AI Agent Management Platforms. A complimentary copy of t
Biocodex Invests €15 Million in a New Industrial Platform for Live Biotherapeutic Products5.11.2026 16:04:00 CET | Press release
Biocodex, an independent French pharmaceutical company, announces a €15 million investment to develop an industrial platform in Beauvais, France, dedicated to Live Biotherapeutic Products (LBPs) derived from the microbiome. Building on more than 70 years of expertise in living microorganisms, microbiota, fermentation and pharmaceutical manufacturing, Biocodex aims to support its partners and, ultimately, its own programs, from research through to clinical and commercial production. The project aims to strengthen healthcare and industrial sovereignty in the field of next-generation microbiome-based therapies. Scientific advances in microbiome science are opening up new therapeutic perspectives, notably in oncology, inflammatory bowel diseases, certain rare diseases and women’s health. Moving from research to pharmaceutical production requires facilities adapted to living microorganisms and pharmaceutical requirements. Open to biotechnology companies worldwide, it will support LBP progra
Experian's New Documentary RECLAIM Shows How Financial Access and Innovation Are Creating Opportunity Around the World5.11.2026 16:00:00 CET | Press release
Short film follows consumers across three countries whose stories demonstrate the power of financial inclusion, innovation and resilienceKey highlights: New Experian documentary features five individuals from the United States, Brazil and the United Kingdom whose experiences illustrate the impact of financial access and opportunity. Documentary highlights examples spanning debt relief, financial education, credit empowerment and healthcare innovation. Stories showcase how Experian's products, services and social innovation can help consumers navigate challenges and pursue personal and financial goals. For years, Almir dreamed of meeting his granddaughter in the United States. But unresolved debt stood in the way. Thousands of miles away in Arizona, Elizabeth faced mounting medical expenses after a health crisis. In London, Rochelle worked to regain control of her finances while caring for family members. Their stories, and others like them, are at the heart of RECLAIM: Stories of Passi
Saudi Fund for Development Signs Six Development Loan Agreements Worth Over USD 403 Million with Syria5.11.2026 15:32:00 CET | Press release
The Saudi Fund for Development (SFD) has signed six concessional development loan agreements worth more than USD 403 million with the Syrian Arab Republic, marking a significant step in supporting the country’s recovery through the rehabilitation of essential infrastructure, restoration of vital public services and improvement of living conditions for communities affected by years of conflict. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261105350224/en/ HRH the Crown Prince and President of the Syrian Arab Republic Al-Sharaa witness signing of agreements (Photo: AETOSWire The agreements, signed under the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, reflect the Kingdom’s continued commitment to supporting Syria’s development priorities. The signing ceremony was witnessed by Hi
Hyperice Unveils Normatec Elite Heat Legs: Integrated Heat Meets Dynamic Air Compression in a New Fully Wireless Design5.11.2026 15:00:00 CET | Press release
FSA/HSA-Eligible Recovery Boots Deliver Five Levels of Heat and Seven Levels of Compression, Available for Pre-Order Now Hyperice, a high-performance wellness brand, today announced the launch of Normatec Elite Heat Legs, the newest innovation in the award-winning Normatec line and the first Normatec product to incorporate heat directly into its line of dynamic air compression therapy. As the 2024 launch of Normatec Elite signified a transformative leap forward in recovery technology, Elite Heat demonstrates Hyperice’s relentless commitment to offering athletes and wellness enthusiasts alike the most comprehensive and intuitive recovery experiences in the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261105782891/en/ Normatec Elite Heat demonstrates Hyperice’s relentless commitment to offering athletes and wellness enthusiasts alike the most comprehensive and intuitive recovery experiences in the world. “Innovation h
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom