Aurora Launches on NEAR Protocol, Providing Ethereum Layer-2 Experience
12.5.2021 15:00:00 EEST | 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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210512005215/en/
Contact information
KC Maas
near@wachsman.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
TVCMALL MWC 2026 -tapahtumassa: johtava mobiilitarvikkeiden tukkukauppa ja älykäs hankinta1.3.2026 08:00:00 EET | Tiedote
MWC Barcelona 2026 korostaa tekoälyn, yhteyksien ja älykkäämpien teknologisten järjestelmien kasvavaa merkitystä, ja samalla mobiilitarvikemarkkinat siirtyvät uuteen vaiheeseen, jota leimaavat nopeus ja monimutkaisuus. Tuotekategoriat laajenevat jatkuvasti, muotoilut ja tyylit päivittyvät yhä nopeammin, ja jälleenmyyjiltä odotetaan reagointia markkinamuutoksiin entistä lyhyemmissä sykleissä. Tuotevalikoiman ajantasaisena pitäminen samalla kun hankintaa hallitaan tehokkaasti on muodostunut todelliseksi haasteeksi jälleenmyyjille ja jakelijoille eri puolilla Eurooppaa. Tämä lehdistötiedote sisältää multimediaa. Katso koko julkaisu täällä: https://www.businesswire.com/news/home/20260121785166/fi/ TVCMALL MWC 2026 -tapahtumassa: johtava mobiilitarvikkeiden tukkukauppa ja älykäs hankinta MWC Barcelona 2026 - Tapahtumassa TVCMALL korostaa rooliaan Euroopan johtavana yhden luukun puhelin tarvikkeita tukkutoimittajana, keskittyen selkeästi siihen, että tukkukauppa ja hankinta olisivat helpompi
TVCMALL at MWC 2026: Leading Mobile Accessories Wholesale and Smarter Sourcing1.3.2026 08:00:00 EET | Press release
As MWC Barcelona 2026 highlights the growing role of AI, connectivity, and smarter technology systems, the mobile accessories market is entering a new phase defined by speed and complexity. Product categories continue to expand, designs and styles update faster, and retailers are expected to respond to market changes in shorter cycles. Keeping product lines up to date while managing sourcing efficiently has become a real challenge for retailers and distributors across Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260121405485/en/ TVCMALL at MWC 2026: Leading Mobile Accessories Wholesale and Smarter Sourcing At MWC Barcelona 2026, TVCMALL highlights its role as a leading one-stop mobile accessories wholesaler in Europe, with a clear focus on making wholesale and sourcing easier, faster, and more reliable. With more than 18 years of experience, TVCMALL works closely with 30+ leading retail partners across Europe, supp
Biocytogen Announces Clinical Milestone with First Patient Dosed in Phase 1 Trial of IDEAYA’s First-in-Class B7H3/PTK7 Bispecific TOP1 ADC IDE03428.2.2026 02:00:00 EET | Press release
Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (Biocytogen, SSE: 688796; HKEX: 02315), a global biotechnology company that drives the research and development of novel antibody-based drugs with innovative technologies, today announced that its partner IDEAYA Biosciences, Inc. (“IDEAYA”; Nasdaq: IDYA) has dosed the first patient in IDEAYA’s Phase 1 dose-escalation/expansion clinical trial of IDE034, an investigational B7H3/PTK7 bispecific TOP1 ADC. Pursuant to the companies’ option and license agreement, first patient dosing triggers a $5 million milestone payment to Biocytogen. According to IDEAYA, the Phase 1 study is designed to characterize IDE034’s safety profile, tolerability, and PK as a monotherapy, and IDEAYA also intends to evaluate combination regimens with DNA damage response (DDR) -targeting agents such as its oral PARG inhibitor IDE161 as the program advances. IDE034 is a potential first-in-class bispecific B7H3/PTK7 TOP1 ADC, independently developed by Biocytogen and lice
IQM and Real Asset Acquisition Corp. to Host Conference Call/Webcast to Discuss Proposed Transaction27.2.2026 14:00:00 EET | Press release
IQM Finland Oy, a global leader in full-stack superconducting quantum computers (“IQM”, “IQM Quantum Computers” or the “Company”), and Real Asset Acquisition Corp. (Nasdaq: RAAQ), a special purpose acquisition company (“RAAQ”), announced that they will host a conference call to discuss their recently announced business combination, including certain transaction highlights. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260227472716/en/ IQM Radiance quantum computer As previously disclosed, on February 23, 2026, IQM and RAAQ announced they have entered into a definitive business combination agreement, which will result in IQM becoming a public company and listing American Depositary Shares on one of the two leading U.S. stock exchanges. The transaction provides funding with the aim to accelerate IQM’s technology and commercial development towards fault-tolerance quantum computing, further advancing its position as a leading p
HighRadius Launches $0 Implementation Fee, $0 Subscription Fee via Outcome Based Pricing for oCFO Software27.2.2026 13:00:00 EET | Press release
HighRadius launches Office of the CFO first Outcome Based Pricing with $0 Implementation fee and $0 Subscription until Go-Live. Customers only pay a fraction of realized gains based on P&L impact. Chapter 1: Outcome Based Pricing (OBP) Introduction of OBP: HighRadius, a provider of 190+ AI agents for Order-to-Cash, Accounts Payable, Record-to-Report, and Treasury introduces Outcome Based Pricing (OBP). Three Components of OBP: Customers pay a) $0 in Implementation fees, b) $0 in Subscription fees until Go Live, c) HighRadius earns a fraction of the actual savings realized by the client. Chapter 2: US GAAP & ASC 606 Constraints Not Designed for Innovation: The traditional ASC 606 model requires companies to standardize and recognize revenue based on contractual obligations. For a traditional SaaS subscription, the obligation is access to software over time. AI agents are designed to deliver quantifiable, real-time Business Outcomes that do not fit the traditional accounting framework. C
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