In the rapidly changing world of Web3 and Blockchain, interoperability and scalability are two issues that are continuously working. The popularity and utility of Ethereum Community has its own place, but limits such as its high gas fees and slow transaction speed have challenged for developers and users. In such a situation, Aurora has emerged as a platform that connects the power of Ethereum with the fast and scalability of Near Protocol.
Aurora, Ethereum-Subsidized is a Community built on Near and thus it gives users the facility to use Etreum features with the performance of Near.
How does Aurora work?
Aurora is an EVM-Ppropriate Community that allows Ethereum’s Dapps and Smart Contracts to run without any code change on the Near Blockchain. It aims to provide facilities and tooling like ethereum to developers and users in a faster, inexpensive and scalable manner.
Aurora performs two major functions:
Uploading and interacting solidity shrewd pledges to Near.
Moving assets through Rainbow Bridge between Ethereum, Near and Aurora.
Rainbow Bridge is a Trustless Bridge that is fully deserted and gives users a freedom to transfer ETH, ERC-20 tokens and other digital assets between different networks.
Aurora base and governance token
The special feature of Aurora is that its base token is Eth. This gives a family and natural experience for users of Ethereum, as they do not have to learn anything new in the network interface.
On the other hand, Aurora Token is the governance token of Aurora, which is used by the community for upgrade and future development of the network. Auroradao sets guidelines of the platform through this token.
Auroradao includes representatives from various sectors of the Blockchain Trade, which ensure the transparency and decentralization of the network.
Aurora Token Provide and Allocation
Aurora token’s maximum supply is fixed on A Million, 000 (one billion tokens). Its token age tournament took place on 18 November 2021.
Unlocked Tokons:
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1%: IDO, Pool on AMMS, market making, partnerships
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1%: Aurora Labs project for advisors
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48%: Auroradao near Future Projects
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20%: in Family Treasury
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3%: delegators of Aurora Validators as rewards
Locked Tokons:
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16%: Long Term Inscents of Aurora Labs
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2%: For Early Contributers
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9%: for private investors
A 2 -year unlocking schedule is applicable on locking tokons, which releases a fixed amount every 3 months and a 6 -month cliff period.
Aurora’s team and leadership
The team developing Aurora is Aurora Labs, which includes some of the world’s best blockchain technologists and developers:
Dr. Alex Shevchenko (CEO): Ph.D. in Physics and Maths, Developer of Bitfury’s Exonum and Advocate of Blockchain Scalability.
Arto Bendiken (CTO): 20+ years of software engineering experience, ESA and US Army.
Frank Braun (Head of Safety): Ph.D. in Computer Science, Experts in Secure Messaging and Digital Currency System.
Joshua J. Bouw (Engine Govern): Famous as ‘Godfather of Evidence of Stake’, specialist in Crypto-Economic Design.
Kirill Abramov (Bridge Govern): Experience of 6+ year, high-performance software and expert in cross-chain apps.
Bridge between Ethereum and Near
Aurora is not just a technical solution, but a starting point for Web3 Building. Through this, developers not only Ethereum You can use power, but also benefit from Near’s speed and low-cost.
In addition, Aurora’s Rainbow Bridge is a highly useful and reliable solution moving towards the multi-chain world that provides seamless interoperability between blockchain networks to developers.
Conclusion
Aurora is a powerful and scalable bridge between Ethereum and Near, which makes the Web3 range more web3 and makes more wealthy and user friendly. Its low transaction fees, high speed and developer friendly approach make it a great platform.
Aurora aims to connect the world of Ethereum with the power of Near, so that developers, startups and blockchain innovators can get a new dimension. If you want to do something new in the field of dapps or NFTs, Aurora may have a perfect start for you.
