Aurora offers a Layer 2 Ethereum experience The explosive growth of DeFi and NFTs frequently causes a spike in Ethereum gas prices — an economically limited issue that engages many users and prevents dApp developers from expanding their business with their full potential. To address these challenges, Aurora announce the release of Aurora’s mainnet , a turnkey solution for developers looking to expand their dApps to reach other markets.
Aurora runs on the NEAR Protocol and takes advantage of many of its unique features, including developer wages and developer gas money. Aurora consists of two core components: the Aurora Engine runtime, which enables the seamless deployment of Solidity and Vyper and Aurora Bridge smart contracts (based on Rainbow Bridge technology), providing for unauthorized transfer of notifications and data between Ethereum and Rang Dong.
Through through mass. Aurora allows for an increase in transaction throughs of about x10 compared to Ethereum. This can then be scaled horizontally through NEAR’s dynamic Sharding algorithm. Confirm quickly. Making a trade takes only 1–2 seconds in Aurora, which is much better than the much longer time it takes to make a trade than unexpectedly in Ethereum. reduce x1000 gas costs. Aurora offers much lower gas costs than Ethereum. Gas costs will remain limited (will not increase to infinite) according to the design of the NEAR blockchain. The average transaction cost is about $0.01 Reliable Bridge.
Aurora deploys the most reliable bridge with Ethereum, allowing the transfer of any data between Ethereum and Aurora, including ERC-20 (available), NFT, contract calls, and (in development) contract statuses. Fully compliant with Ethereum 1.0. 2016– 2020, developers and users don’t need to use any additional tools or codes to work with Aurora. All existing tools are Aurora compliant, including Metamask, Hardhat, Truffle, etc. Furthermore, Aurora’s base token eth, users, and developers who are not forced to purchase Aurora provide some improvements to developers:
- Aurora fees are up to 1,000 times lower than Ethereum’s. For example, the cost of passing the ERC-20 token is less than $0.01, while for Ethereum (at 50 Gwei and the ETH price of $3,000), it is about $5.40.
- Aurora can store thousands of transactions per second, up 50 times from Ethereum 1.0.
- The finality of the Aurora transaction inherits from the basic NEAR Protocol, i.e. two NEAR blocks, or about two seconds — significantly lower than the single block confirmation time of 13 seconds in Ethereum (not enough for the transaction confirmation time). In addition, the rapid finishing of the NEAR blockchain significantly reduces the risk of pre-attack.
- Ecosystem growth on Aurora is testament to the future: the sharding approach of the BASIC NEAR Protocol provides horizontal EVM scalability, with a seamless communication between multiple Aurora pieces.
- Aurora offers a greener option for Ethereum users: full, non-binding Ethereum compatibility on the foundation of the decentralized and climate-neutral Proof-of-Stake L1 NEAR Protocol. Aurora solves the current and future computing challenges of the Ethereum ecosystem, while maintaining existing technical investments in both smart contracts and ERP codes.
The Aurora architecture is performed as a smart contract on the NEAR blockchain. What does that mean? Aurora can benefit from all the current and future advantages of the NEAR 2 blockchain. Simplify aurora’s early-stage maintenance, upgrades, and administration, allowing for quick response times in emergencies such as security vulnerability detection. Immediately after launch, the plan is to use SputnikDAO version 2, a customizable DAO-based governance framework on NEAR, to launch AuroraDAO for ecosystem governance.