Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Near Protocol (NEAR) has attracted the crypto community’s attention with the launch of Chain Signatures. The new multi-party computation platform will allow users to access different chains using their Near accounts.
One small step for man.
One giant leap for Chain Abstraction.
Chain Signatures, secured by EigenLayer and NEAR stakers, enable transactions on any blockchain from your NEAR account.
Start building with Chain Signatures today ⛓️https://t.co/sUPvXw75yy pic.twitter.com/3cxb6eOtYM— NEAR Protocol (@NEARProtocol) March 27, 2024
Near Protocol enhances interoperability
Near’s Chain Signatures will improve efficiency and security across multiple chains, bolstering interoperability.
Chain Signatures use EigenLayer and NEAR stakers for vigorous security. Currently, it supports top blockchains like Dogecoin, Cosmos chains, XRPL, and Ethereum, with plans for integrating with Polkadot, TON Network, Solana, and more.
Integrating Chain Signatures shows Near’s dedication to ensuring a unified blockchain ecosystem. The new features remain in the testnet stage, awaiting mainnet release in early May.
Besides the Chain Signatures, Near Protocol has unveiled the Multi-chain Gas Relayer. The feature will allow users to transact on multiple chains without native gas coins.
Traders will utilize NEP-141 tokens or NEAR coins to settle transactions when interacting with compatible blockchains.
The latest upgrades match Near Foundation’s ‘chain abstraction’ initiative, which prioritized simplified user experience when interacting with the complexity of multi-chains.
NEAR price outlook
Near Protocol’s token recorded impressive price surges as AI tokens roared over the past week amid NVIDIA’s artificial intelligence conference.
NEAR gained more than 90% over the past month as AI tokens led the upside.
NEAR 30D Chart on Coinmarketcap
While the altcoin exhibited bearishness, down 6% over the past day to $7.24, the latest upgrades could catalyze revivals in the upcoming sessions.
The post Near launches Chain Signatures to streamline cross-chain transactions appeared first on Invezz
Publication date
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.