🚀 NEAR Initiates Cross-Blockchain Management
posted 27 Mar 2024
The NEAR Foundation, the entity behind the NEAR blockchain, has unveiled a new feature that allows for the management of transactions across different blockchains directly from the NEAR app. This innovation, made possible through a decentralized multi-party computation (MPC) network, enables users to manage multiple wallets under a single account.
Chain Signatures is the next step in that journey, making it significantly easier to transact on any blockchain while also defragmenting liquidity across the ecosystem,NEAR Foundation CEO Illia Polosukhin commented.
Rather than relying on deposits or cross-chain bridges, this feature acts as a decentralized component of the transaction process, managing user requests autonomously. At launch, it will support Bitcoin, Ethereum, Cosmos, DogeCoin, and Ripple, with plans to extend support to Solana, TON, and Polkadot.
Restaking company Eigenlayer is a principal partner in this venture. Initially, security for this new network against external threats, in line with consensus, will be ensured by ten operators from both the project and NEAR itself, including infrastructure providers like Eigen AVS.
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