Detailed analysis of the Aurora project.

What is Aurora?

Aurora is an Ethereum Virtual machine built by the Near Protocol project team with the aim of creating a solution to help developers build apps on an Ethereum-friendly platform. Provides an Ethereum-like experience with layer 1 features such as fast speed, good scalability.

  1. Aurora Bridge: Is a bridge application built on Rainbow Bridge, now replaced by Rainbow Bridge 2.0, allowing to transfer tokens between three platforms Ethereum, Near and Aurora networks.
Rainbow Bridge.

Technology:

Aurora compatibility features:

  1. Aurora supports all smart contract code built on Ethereum — Solidity, Vyper
  2. Aurora supports all the tools available in the Ethereum ecosystem — MetaMask, Truffle, HardHat, OpenZeppelin SDK, and more.
  3. Aurora native token is ETH
  4. All transaction fees are in ETH
  5. Developers don’t need to fork their code to support another network

Architecture of aurora:

  1. Aurora is deployed as a smart contract on the NEAR blockchain.
  2. Aurora inherits all current and future advantages of NEAR Blockchain.
  3. Simplify Aurora maintenance, upgrades, and early-stage administration, enabling quick response in the event of an emergency such as the discovery of a security vulnerability.
  1. The DAO committee is used to initiate the project, with the intention of shifting the decision process to the token holders or the NEAR validator consensus.
  2. Aurora may claim additional fees in ETH for operations, community coffers or redemption of $AURORA tokens
  1. Aurora transaction finality inherits from the NEAR Protocol, which is two NEAR blocks, or about two seconds — significantly lower than the one block confirmation time of 13 seconds in Ethereum (not enough for transaction confirmation times). Translate). In addition, the rapid completion of the NEAR blockchain greatly reduces the risk of attacks.
  2. Aurora can conduct thousands of transactions per second, 50 times more than Ethereum 1.0.
  3. The ecosystem on Aurora is set to grow in the future, as NEAR Protocol’s sharding approach provides horizontal EVM scalability, with asynchronous communication between multiple Aurora shards.
  4. Aurora offers a user-friendly and accessible option for Ethereum users: full Ethereum compatibility, no strings attached on the platform of Proof of Stake L1, and completely decentralized.

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HOANGSK_1807

HOANGSK_1807

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This is the place for me to write very useful documents about researching potential projects, testnet tutorials, retroactive.