4IRE contributed to Aurora
“The 4IRE engineering team is honored to be a part of Aurora development and rollout and will be happy to continue to contribute to the operations of Aurora through the maintenance and integration of the NEAR protocol.” Managing Director Helen Petraschuk
STOCKHOLM (PRWEB)
June 04, 2021
4IRE, the official integrator of NEAR, is pleased to contribute to the development of Aurora, a solution to expand the Ethereum economy, which was launched in May 2021. Aurora was built on the NEAR protocol, which allows the latter to act as a Layer 2 protocol for Ethereum. Many DeFi and NFT developers anticipated the release of Aurora as a solution to the ever-increasing gas charges that previously limited the launch and reach of new blockchain apps to a wider audience.
The main purpose of developing Aurora was to improve the use of the Ethereum blockchain without pushing users to switch from one blockchain to another. Unfortunately, despite its numerous advantages for users and developers, ETH has some limitations, including high transaction fees, low throughput, and time per block confirmation (14 seconds average). Thus, with its powerful runtime, seamless token transfer and state-of-the-art decentralized governance, Aurora became a robust solution for the ETH challenges.
Aurora is designed to work on the NEAR protocol and take advantage of most of its unique features (such as sharding and developer compensation for the gas used in their products). Its two core components (Aurora Engine and Aurora Bridge) simplify smart contract migration and enable problem-free token sharing between Ethereum and Aurora ecosystems. Together with 1000 times lower commissions (compared to ETH) and higher throughput, Aurora is a sustainable alternative to Ethereum users.
With Aurora, users can enjoy NEAR’s powerful combination of efficiencies without having to migrate to a new blockchain platform. Developers can start a wide range of dApps within minutes by effectively linking them to ETH Smart Contracts and other system elements. Full compatibility with ETH and operation on a CO2-neutral first-level NEAR blockchain offer users unique opportunities and advantages in the integrated blockchain universe.
4IRE is a leading Ukrainian-Swedish IT consultancy with a focus on Defi, FinTech and Green Finance. With an extensive background in blockchain development, we at 4IRE see immense potential behind Aurora in the blockchain space. 4IRE engineers are excited to be part of the development and launch of Aurora and will be happy to continue contributing to the operation of Aurora through the maintenance and integration of the NEAR protocol.
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