The Benefits of Aurora
With the surge of NFT and Defi popularity in 2021 comes a great road of opportunities for many to earn and profit. As good as it may seem, this also comes with potential roadblocks that prevent many users and participants from arriving at the destination point they’d want to reach. One of the biggest roadblocks for many that prevent them from going further… is gas fees. Many have expressed their concerns regarding Ethereum gas prices which have greatly increased due to the explosive growth and participation of many users which has now become a challenge for some to hurdle. To simply put, the increase in participants lead to a rise in gas fees. In order to address this issue, Aurora enters the scene.
Built on top of NEAR Protocol, Aurora — a turnkey solution for developers — makes full use of NEARS’s special features including sharding and developer gas fee earnings. Aurora is made up of Aurora Engine and Aurora Bridge, two main components that allow token and data transfer between Ethereum and Aurora. This allows developers to extend their dApps to reach extra multiple markets.
Aurora contributes a number of improvements for developers such as (1) gas fees that are a thousand times lower than that of Ethereum’s. Rather than having to spend the majority of their tokens on gas fees, Aurora allows users to save their money and to better allocate their resources on the Ethereum blockchain. Hosting transactions is another enhanced feature Aurora provides. Compared to Ethereum 1.0 network which can only support approximately 30 transactions per second, Aurora on the other hand, (2) is capable of hosting thousands of transactions per second, denoting a fifty times increase compared to that of the latter. This results in Aurora (3) significantly reducing the possibility of frontrunning attacks, which stems from NEAR Protocol’s fast transaction finality, thus ensuring the safety of user transactions. Furthermore, Aurora (4) allows horizontal EVM scaling with asynchronous communication between multiple Aurora shards through NEAR Protocol. Lastly, Aurora is not only able to benefit users, but also the environment. Being built on NEAR Protocol, a certified climate-neutral blockchain, (5) Aurora is able to provide Ethereum users a greener approach. Being implemented as a smart contract, Aurora is able to fully benefit from NEAR blockchain’s current and future developments. This allows the simplifying of early-stage maintenance, enhancements, and improved governance of Aurora, leading to quick response times in encountering security risks and managing emergencies.
By addressing these roadblocks, Aurora provides smart solutions that serve as an investment for solving current and future computational challenges within the Ethereum community while maintaining investments for smart contracts and front-end codes.
