NEAR Ecosystem Biweekly Digest #2
Introducing the second edition of the NEAR Ecosystem Biweekly Recap! Join us as we delve into the latest two weeks of significant developments within the NEAR Protocol. From new launches to exciting partnerships, stay informed about the cutting-edge innovations and accomplishments that continue to mold the NEAR Ecosystem.
NEAR and Eigen Labs Partner for Faster, Cheaper Ethereum Layer 2 Transactions
NEAR Foundation and Eigen Labs have joined forces to pioneer a revolutionary partnership aimed at enhancing the speed and cost-effectiveness of Ethereum Layer 2 transactions through EigenLayer. This collaboration introduces the world’s first “fast finality layer” for Ethereum Layer 2s, reducing transaction times to 3–4 seconds and making costs 4,000 times cheaper. The initiative, led by Pagoda, the NEAR ecosystem development team, not only benefits projects building on Ethereum but also improves bridging experiences between NEAR and Ethereum, aligning with NEAR’s mission to make the Open Web more usable. Read more on this article.
NEAR Foundation and Polygon Labs Collaborate on zkWasm Prover for Seamless Web3 Integration
NEAR Foundation and Polygon Labs are partnering to develop a zkWasm prover, bridging Wasm-based chains with Ethereum. As NEAR becomes a core contributor to Polygon CDK, the zkWasm prover enhances developer customizability, enabling projects to choose provers when working with Polygon CDK. This innovation improves scalability, decentralization, and liquidity across chains, bringing NEAR closer to Ethereum and contributing to the broader expansion of the ZK landscape in Web3. Read more on this article.
LayerZero Integration Expands NEAR’s Network Reach to 40+ Networks Through Aurora
In a groundbreaking development, LayerZero Labs has integrated with NEAR via the EVM layer Aurora, enabling them to tap into LayerZero’s omnichain messaging protocol. This integration fosters enhanced interconnectivity, allowing NEAR to seamlessly interact with over 40 networks without intermediaries. NEAR and Aurora users can now leverage LayerZero’s network, facilitating the expansion of projects like Stargate or Radiant Capital to NEAR and paving the way for frictionless cross-chain transactions with native assets through dApps like Ref, Orderly, Burrow, and more. Read more on this X post.
NEAR Foundation Launches NEAR Data Availability for Cost-Effective ETH Rollups
NEAR Foundation introduces the NEAR Data Availability (NEAR DA) layer, offering cost-effective, secure data availability for ETH rollups and Ethereum developers. NEAR DA, part of the NEAR Open Web Stack, boasts an 8,000 times cost advantage over Ethereum L1, providing developers reliability while maintaining Ethereum’s security. The expansion of NEAR’s Open Web Stack establishes a modular blockchain development framework, allowing Web3 developers to build on Ethereum while utilizing NEAR’s advanced technology for specific stack components. Read more on this article.
Pyth Price Feeds Now Available on NEAR Testnet for Developers
In a significant move, Pyth Price Feeds have arrived on NEAR’s testnet, providing developers with permissionless access to 350+ price feeds for various digital assets, foreign exchange pairs, commodities, equities, and ETFs. This integration marks a key milestone one year after Pyth’s expansion to Aurora, the EVM environment built on NEAR’s user-friendly, layer-one, proof-of-stake blockchain.
NEAR Protocol’s recent strides include groundbreaking partnerships with Eigen Labs for faster Ethereum Layer 2 transactions and Polygon Labs for enhanced Web3 integration. The integration with LayerZero Labs expands NEAR’s network reach to over 40 networks. NEAR Data Availability ensures cost-effective data access for Ethereum rollups, while Pyth Price Feeds on the testnet offer diverse financial data to developers. These advancements highlight NEAR’s commitment to efficiency, scalability, and a more interconnected blockchain ecosystem.
