This article is all information about Aurora – EVM on NEAR. When you read this article, you will find the reason why we should choose Aurora. Let’s read to get the more useful thing.
Aurora Labs is developing the technology that will allow the Aurora protocol to elevate the NEAR and Ethereum ecosystems, thereby bringing blockchain to the mainstream.
Aurora is an Ethereum Virtual Machine (Ethereum Virtual Machine – EVM). This is a decentralized platform built on the NEAR protocol to provide a scalable solution for Dapps on Ethereum when deployed on NEAR. Aurora is divided into 2 main parts:
- One is the Aurora EVM Runtime which allows the deployment of smart contracts using Solidity and Vyper.
- And two, the Aurora bridge is a connection platform built on the Rainbow bridge. It allows token transfers from Ethereum to NEAR.
EVM is highly compatible with Ethereum
Aurora provides programming space similar to Ethereum. Aurora’s speed and scalability such as a layer-2. The dApps work as Metamask, Truffle, Hardhat, and Remix,…all can fork to expand to NEAR thanks to Aurora
High transaction volume and scalability
Aurora runs on Near Protocol, one of the third-generation blockchain platforms with high performance, and scalability
Inheriting special features from Near
Aurora EVM has a smart contract belonging to NEAR. The next time, AuroraDAO will go live on SputnikDAO 2.0, used in protocol administration
Users can use any ERC-20 token to pay transaction fees on the Aurora EVM
Fast transaction speed
Aurora can store thousands of transactions per second, a 50x increase compared to Ethereum 1.0. Aurora’s transaction confirmation speed is about 1s. Thanks to the quick completion of transactions on the NEAR Blockchain, the risk of being hacked is reduced
Aurora’s vision is to build an interoperable future that connects blockchains, developers & consumers
Low transaction fee
Transaction fees on Aurora are 1,000 times lower than on Ethereum. For example, the Transaction fee of 1 ERC-20 token on Aurora is less than 0.01 USD. While on Ethereum (with 50 Gwei and ETH price at 3000 USD), the figure goes up to 5.4 USD. Aurora removes major financial barriers for users & developers.
There are over 180 projects built on Aurora and are reaping the benefits of the first-mover advantage. Projects are spread from categories like NFT, Dex, DeFi, LaunchPad, etc
Top TVL on Aurora
Bastion Protocol has the highest TVL about $95.27M.
Aurora with $90M developer fund
Aurora launches $90 million developer fund to boost DeFi on NEAR Protocol.
Proximity will manage the token and provide funding to developers interested in building DeFi-based applications on Aurora. The venture will promote the overall operation of the network by relying on such a token used as a strategy by blockchain or cryptocurrency founders
As a result, they also started attracting top Ethereum-based projects: Curve Finance
The project is granted by Aurora
Here are the projects that are granted by Aurora before May. Aurora is working hard to provide funding for projects on the ecosystem
Aurora does not stop at supporting 20 previous projects. Aurora is still reviewing and continuing to support 20 more projects
Funded projects of various categories in the ecosystem such as Game, NFT, DeFi. If your project on Aurora ecosystem want to get fund, let’s visit here to apply your project https://aurora.dev/grants
Aurora Ecosystem in the future
After DeFi projects, other puzzle pieces were also developed such as GameFi, NFT, …
Aurora has a thriving NFT culture, with at least three active markets and a dozen collections ranging from Aurora Punks to AuroBots and even domain names
There are some of the biggest NFT marketplaces and collections on Aurora like APE DAO, 1 Million NFTs (1MlnNFT), TofuNFT, Endemic, OpenBiSea, AuroraSwap,…
The development of the Aurora community
Aurora community growing. That proves that Aurora is getting stronger every day. According to Aurora’s statistics, within the last few months, Aurora has welcomed into the ecosystem over 10 new country-based communities.
The Community Grant Program
Aurora has launched the Community Grant Program. The initiative enables the Aurora Community to get financing for marketing and other activities that contribute to the general growth and extension of the Aurora ecosystem. Look at the picture to know how to apply for this program. It is easily to apply for the grant from Aurora for a community project
Aurora has launched $VOTE
Aurora Labs announces the launch of $VOTE – a decentralized governance platform to empower the community to govern the protocol themselves. The $VOTE tokens can be earnt by staking $AURORA on Aurora+. Once you have earnt $VOTE through staking, you can directly vote to elect a new DAO member (= a new member of the council), or send your $VOTE to a third party delegate to vote for you
Job Opportunities in the Aurora ecosystem
Now, Aurora is recruiting for a few positions full-time and remote. If you are suitable, let’s apply for the position you want
In May, Aurora launched Aurora+, an innovative new platform that offers Aurora users free transactions, AURORA token staking, airdrops, and more
Today, all Aurora users can sign up for a free Basic account, including:
- 50 free transactions per month
- AURORA Staking
- AURORA Airdrop
Aurora will continue to enhance the Aurora+ platform in the future with Paid Premium Plans, Governance participation, Private transactions, and Single-point KYC.
The meaning of the birth of Aurora+ is that Aurora+ will make transactions on Aurora hassle-free. Help you put your $AURORA to productive use and eventually allow you to take an active role in the evolution of the network itself
An easy way for EVM users onboard to the Aurora network
You also access apps to bring your assets to @auroraisnear
Aurora is an Ethereum Virtual Machine (EVM) developed by the NEAR Protocol team that provides a turn-key solution for developers to run their apps on an Ethereum-compatible, high-throughput, scalable, and future-proof platform with minimal transaction fees for their customers.
Through this article, we hope readers will have a look at Aurora Ecosystem.