Aurora

Understanding Aurora (AURORA): The Ethereum-Compatible Layer on NEAR Protocol

Aurora (AURORA) is an Ethereum Virtual Machine (EVM) built on the NEAR Protocol blockchain. Launched in 2021, Aurora enables developers to execute their Ethereum applications on NEAR's infrastructure, offering faster transactions and lower fees while maintaining full compatibility with Ethereum's tooling and smart contracts.

How Does Aurora (AURORA) Work?

Aurora (AURORA) functions as a layer-2 solution that brings Ethereum compatibility to the NEAR ecosystem. It consists of two primary components:

1. Aurora Engine: An EVM implementation that allows Ethereum smart contracts to run on the NEAR Protocol without modification.
2. Aurora Bridge: A cross-chain bridge that enables seamless asset transfers between Ethereum, NEAR, and Aurora.

By leveraging NEAR's underlying infrastructure, Aurora (AURORA) inherits NEAR's high throughput and low transaction costs while providing a familiar environment for Ethereum developers. This architecture delivers transactions that finalize in about 2 seconds with gas fees that are a fraction of those on Ethereum mainnet.

Staking and Mining on Aurora (AURORA)

Aurora (AURORA) does not support traditional mining as it operates on NEAR Protocol, which uses a Proof-of-Stake (PoS) consensus mechanism rather than Proof-of-Work.

Regarding staking, the Aurora ecosystem has introduced Aurora+, a staking program that allows AURORA token holders to stake their tokens and earn rewards. By staking AURORA, users contribute to the network's security and governance while earning passive income. The staking rewards are primarily derived from the treasury and protocol revenue.

To participate in Aurora (AURORA) staking:

1. Hold AURORA tokens in a compatible wallet
2. Connect to the Aurora+ platform
3. Stake your AURORA tokens
4. Earn staking rewards distributed according to the protocol's schedule

What is Aurora (AURORA) Used For?

The AURORA token serves multiple purposes within the ecosystem:

• Governance: AURORA holders can participate in the Aurora DAO, voting on protocol upgrades and treasury allocation.
• Staking: Users can stake AURORA tokens to earn rewards through the Aurora+ program.
• Fee payment: While gas fees on Aurora are currently paid in ETH, the protocol may transition to using AURORA for fee payments in the future.
• Protocol development: A portion of the AURORA supply is allocated to fund ongoing development and ecosystem growth.

Aurora (AURORA) Token Distribution

The initial distribution of AURORA tokens was designed to create a decentralized ecosystem. The total supply of AURORA is capped at 1 billion tokens, distributed as follows:

• Community Treasury: 50% (500 million AURORA)
• Core Contributors: 20% (200 million AURORA)
• NEAR Ecosystem: 10% (100 million AURORA)
• Early Supporters: 8% (80 million AURORA)
• Advisors: 2% (20 million AURORA)
• Future Team and Contributors: 10% (100 million AURORA)

The distribution included an initial token release, followed by a vesting schedule for different stakeholder groups to ensure long-term alignment with the project's success.

Additional Features of Aurora (AURORA)

Aurora (AURORA) offers several advantages that make it stand out in the blockchain space:

• Carbon Neutrality: Aurora has committed to being carbon neutral, offsetting the environmental impact of its operations.
• Multi-sig Security: Aurora employs a multi-signature security model for its bridge and critical infrastructure.
• Developer-friendly: Ethereum developers can deploy their dApps on Aurora with minimal code changes.
• Interoperability: Aurora enables seamless asset transfers between Ethereum, NEAR, and other blockchains.

For investors and traders interested in AURORA, the token can be easily traded on various cryptocurrency exchanges. For automated trading strategies, you can use Cryptohopper's advanced trading bot, which supports Aurora (AURORA) trading across multiple exchanges, allowing you to capitalize on market opportunities 24/7 without manual intervention.

As Aurora continues to evolve, it remains a promising platform for Ethereum developers looking for scalability without sacrificing compatibility, making AURORA a token with substantial utility within the broader blockchain ecosystem.