What is Aurora EVM? Learn about the Ethereum virtual machine on Near Protocol and AURORA coin

The birth for the project Aurora

The explosive growth of DeFi and NFTs caused an increase in Gas fees on Ethereum and at the same time limited users to join the Ethereum platform and became a barrier for those with little capital and Dapp developers. on an extended scale.

To solve the above problems, NEAR has officially launched the project AURORA, a viable solution for developers looking to overcome the limitations of Ethereum.

Aurora EVM project overview

Project Aurora is an Ethereum Virtual Machine, an excellent technology built on Near Protocol. Project Aurora is the combination of the power of NEAR and Ethereum on the NEAR protocol, providing a solution for developers and dapp operators on the Ethereum platform to scale, relocate “your home” via the NEAR Protocol platform .

Developers get to take advantage of many of NEAR’s unique features in terms of gas fees for their users as well as developer rewards.

Aurora consists of two main core parts:

Aurora EVM Runtime enables seamless deployment of Solidity and Vyper smart contracts.
Aurora Bridge (based on Rainbow Bridge technology), which provides for permissionless transfer of tokens and data between Ethereum and Aurora.

Special features of the Aurora project

Aurora compatibility features

Project Aurora is the most optimal Layer 2 solution for Ethereum with the following features: f

Ethereum Full Compatibility: Developers don’t need to fork their code to support another network
High throughput and scalability: Aurora runs on NEAR Protocol, one of the highest performing third-generation L1 protocols, from one of the most highly regarded teams in the industry.

Low transaction costs: extremely low

- - Aurora’s Core is SputnikVM – a Rust EVM implementation from Parity Tech
  - Aurora support all smart contract code Built on Ethereum – Solidity, Vyper
  - Aurora support all tools available in the Ethereum ecosystem – MetaMask, Truffle, HardHat, OpenZeppelin SDK, etc

Bridge: Rainbow Bridge can move assets from ETH and NEAR Protocol to Aurora and make transactions at extremely low cost

Products developed on Aurora

AURORA EVM Finished main products:

AURORA Engine: Allows smart contracts in Solidity and Vyper programming languages to be deployed.
AURORA Bridge: A bridge application built on top of Rainbow Bridge, allowing tokens on Ethereum to be transferred to NEAR for pooling, trading and use.
Blockchain Explorer: is an index for the Aurora blockchain
Data Index: data display for the Aurora blockchain
Price Oracle: where data connection to Aurora blockchain

DeFi platforms are available on Aurora

Currently Defi puzzle pieces on Aurora are also starting to grow and attract cash flow with:

AMM DEX exchanges such as: Trisolaris, WannaSwap
IDO: Nearpad, Smartpad
Yeild: Vaporwave

Competitors

Project Aurora see NEAR as a complement to Ethereum. Aurora helps unify the NEAR and Ethereum economies, providing more opportunities for developers and the community. With Aurora, Ethereum users can work with familiar applications while benefiting from the efficiency of NEAR, removing major financial barriers for users and developers. It can be said that Aurora currently has no competitors.

Basic information of Aurora project token – AURORA

Token name: Aurora
Ticker: AURORA
Blockchain: Aurora
Contract: 0x8bec47865ade3b172a928df8f990bc7f2a3b9f79
Token Type: Utility
Total Supply: 1.000.000 AURORA
Circulating Supply: 1.000.000 AURORA
Market Cap: 180.000.000

Token Allocation

20% (200 million), unlocked, archive —Community treasury
16% (160 million), key — AURORA Labs long-term offer. Tokens may also be subject to an investment program approved by AURORA Labs.
9% (90 million), lock — AURORA Labs private investment round. This amount of tokens is unlocked according to the approved plan.
3% (30 million), keyless — allocated to AURORA Labs for distribution to the NEAR ecosystem over the next three years. These tokens must be distributed evenly linearly among AURORA validators. The validators are operated on a :30% fee, with 10% burned and 20% used to fund Rainbow Bridge and AURORA RPC activities.
2% (20 million) – lock — the first AURORA contributors. The allocation of this token is decided by the Near Foundation (allocation and unlocking time).
1% (10 million), unlocked – used to reward project advisors by AURORA Labs
1% (10 million), keyless — allocated for use by AURORA Labs to launch the AURORA ecosystem. These tokens are used for IDO (public sale through one or more DEXs), deploying pools on AMM, market creation, initial partnerships and other activities defined by AURORA lab.
48% (480 million) unlocked — kept on the DAO system for upcoming projects.

Token Use Case

AURORA is a governance token, part of the token will be donated to the community fund. This fund will be used to give to projects that are running, about to run on the platform, projects that are calling for investment.

Some functions may be developed with the permission of AURORADao:

Staking token AURORA
Reward AURORA holders for voting.
Pay transaction fees on Rainbow Bridge
Speed up transactions on Rainbow Bridge
Pay transaction fees to validator
Farming trên Rainbow Bridge

Wallet store and place to buy and sell tokens AURORA

Present token Aurora stored on Near Wallet or on an Aurora chain integrated wallet like Metamask.

You can now buy AURORA through DEX exchanges such as Reffinance, Trisolaris, WannaSwap. Or you can buy AURORA on CEX exchanges like Gate and MEXC.

Development roadmap

Q3 2021

Complete fundraising campaign

Q3 2021

Fill all the original members of AuroraDAO

Q4 2021

Speed up token transactions

Q4 2021

Gas fees are calculated in ERC-20s. Users can pay transaction fees in USDT or DAI.

Q4 2021

A simplified "Hide the Blockchain" experience.

2022

The project’s development team

Aurora’s core team includes:

Alex Shevchenko: Alex began his career in high-performance computing, working with complex computational problems on hybrid architectures. Alex has been focused on blockchain since 2015, when he joined Bitfury and developed Exonum among other projects. Alex has a PhD in Physics and Mathematics.
Arto Bendiken: Arto is an autodidact, cypherpunk, entrepreneur and open source author with over 20 years of professional software engineering experience working with organizations such as the European Space Agency (ESA) and Naval Space United States Army and Naval Warfare Systems Command (SPAWAR). Currently working on the third generation of blockchain
Frank Braun: Frank has 20 years of experience in building complex software systems. He has worked on scientific software, encrypted messaging systems, and digital currencies. Frank has a PhD in computer science.
Joshua J. Bouw: Joshua has nearly a decade of experience working at the intersection of crypto-economic design, developing software and creating open source ecosystems. Heralded as ‘The Godfather of Proof of Stake’ for his early role in the development of the Proof of Stake Consensus Mechanism, Joshua led and advised a wide range of crypto groups prior to joining. NEAR Aurora Team.
Matt Henderson: Matt’s career has spanned engineering at the European Space Agency, designing and developing digital products for brands like Google, and being deeply involved in crypto as a publisher. Investor and product designer since 2013. Matt holds a Master’s degree. in Electrical Engineering from Georgia Tech

Partners and investors

Project AURORA has been announcing cooperation with many large and small projects such as 1inch, DODO, Chainlink, Band Protocol, DeFiner and of course Near Protocol.

In addition, in recent times we see many projects announced to cooperate with AURORA such as Trisolaris, Wannaswap, Vaporwave

Evaluate the Aurora EVM project on NEAR’s ecosystem, should I invest AURORA coin or not?

For Aurora project, this is a project to expand the NEAR ecosystem with solutions for Ethereum. This is a core project to promote the development of the NEAR ecosystem.

Through this article, you have somewhat grasped the basic information about the project to make your own investment decisions. Coin68 is not responsible for any of your investment decisions. Wish you success and make a lot of profit from this potential market.