🌟 Introducing Aurora: A High-Throughput Ethereum Virtual Machine (EVM) on NEAR Protocol 🌟

🌟Aurora: Revolutionizing Ethereum-Compatible Platforms on NEAR Protocol🌟

Are you an Ethereum developer looking to scale your applications with reduced transaction costs? 🚀 Look no further! Meet Aurora—an Ethereum Virtual Machine (EVM) designed on the NEAR Protocol, empowering developers with cutting-edge Ethereum-compatible solutions. Aurora combines high throughput, scalability, and future-proof capabilities to make it the ideal choice for modern developers.

🌈 The Rainbow Bridge: Uniting Ethereum, NEAR, and Aurora

Aurora has pioneered the groundbreaking Rainbow Bridge, enabling seamless asset transfers between Ethereum, NEAR, and Aurora. This bridge opens up new possibilities for users and expands the horizons of decentralized finance. With top-tier VCs like Pantera Capital, Electric Capital, and Dragonfly Capital backing Aurora, it's at the forefront of transformative blockchain technology. 💼

🔧 Aurora's EVM: Smooth Transition for Developers

Leveraging Aurora's EVM, developers can easily port their Ethereum-native applications to NEAR's L2-like network, operating smoothly as smart contracts on NEAR. The familiarity of Ethereum tooling, especially for Solidity smart contracts, ensures a seamless transition for developers, reducing friction in the development process. 💡

💰 Aurora's Low Transaction Costs and Innovative Features

Aurora's base fee, denominated in ETH, ensures a seamless and user-friendly experience for dApps' users, streamlining interactions and enhancing the overall user experience. Moreover, Aurora continues to innovate with the Rainbow Bridge, enabling asset transfers across multiple networks. With numerous successful integrations and many more on the horizon, Aurora stays committed to creating an interconnected blockchain ecosystem. 💸

🏆 Aurora's Key Features

• Layer: 2

• Consensus Mechanism: Proof-of-stake

• Transaction Fee Structure: Gas-based

• TPS: 10,000

🚀 Aurora's Benefits

1. High Throughput: Aurora's processing capability of up to 10,000 transactions per second significantly surpasses Ethereum's TPS.

2. Low Fees: Users enjoy the advantage of substantially lower transaction fees compared to Ethereum.

3. Ethereum Compatibility: With full compatibility, developers can seamlessly port their dApps from Ethereum to Aurora.

📊 Aurora's Gas Fee Structure

Aurora's gas structure operates based on the gas consumed during transactions, with the market determining the fluctuating gas price depending on transaction demand. The gas price is denoted in Gwei, a NEAR denomination, where 1 Gwei equals 0.000000001 NEAR. The amount of gas utilized in a transaction varies according to its complexity. Presently, Aurora boasts remarkably low gas fees, with an average gas price around 1 Gwei, resulting in an average transaction fee of approximately $0.00001. Check out the table below showcasing the gas costs for common transactions:

🔍 A Comprehensive Look at Aurora EVM

Aurora EVM, the official EVM for the NEAR ecosystem, mirrors the Ethereum protocol seamlessly and adopts ETH as its base currency. It also offers support for additional precompiles, enabling smooth interactions with the rest of the NEAR ecosystem. The technical architecture behind the Aurora Bridge ensures trustless token transfers between Ethereum, NEAR, and Aurora, fostering decentralized finance principles without relying on third parties for authorizations.

🏭 Powered by SputnikVM

In its current implementation, the Aurora EVM leverages the impressive capabilities of SputnikVM, contributing to its remarkable performance.

💡 Additional Features

Aurora introduces additional precompiles and a default NEP-141 mapped ERC-20 contract to offer comprehensive support to the NEAR ecosystem.

🌐 Token Bridging Across Networks ❗❗❗

Bridging tokens between Ethereum, NEAR, and Aurora requires careful consideration of their origin. Tokens can be seamlessly bridged between Ethereum and NEAR, but tokens originating on Aurora cannot be bridged back to NEAR or Ethereum.

🛠️ Why Choose Aurora EVM for Your App Development?

Aurora, developed by the same team responsible for NEAR Protocol, operates as a powerful choice for your projects. It stands as a separate entity governed by the decentralized AuroraDAO, ensuring alignment of incentives for the network, product owners, and end users.

🚄 Performance Metrics and Scaling

Aurora's upcoming protocol upgrade will add EVM precompiles, potentially achieving twice the throughput of the Ethereum Mainnet. Single-shard improvements will contribute to further throughput increases, enhancing overall performance.

🔍 Pros and Cons of Aurora EVM

Aurora's impressive throughput, low fees, Ethereum compatibility, security, and scalability make it an attractive choice for developers and users. However, being relatively new, it's essential to consider the project's maturity, adoption levels, and inherent risks.

Final thoughts

When considering Aurora for your blockchain ventures, take into account its maturity, adoption levels, fees, and security. Making informed decisions will empower you to leverage the full potential of Aurora and scale your Ethereum dApps with confidence! 💪

Happy developing! 🚀🌟

References:
\=>https://aurora.dev/
\=>https://doc.aurora.dev/
\=>https://github.com/aurora-is-near
\=>https://golden.com/wiki/Aurora_Labs-BYZJN8E