Aurora Connects Bitcoin Network to NEAR Protocol to Foster Exciting New DeFi Opportunities

The team responsible for the development of the Aurora blockchain, Aurora Labs has announced the launch of its Bitcoin Light Client and Relayer, establishing a connection between the Bitcoin network and NEAR for the very first time. This integration opens doors for new decentralized finance applications while enhancing interoperability in the Web3 landscape. NEAR protocol \"The Bitcoin ecosystem holds immense untapped potential. Introducing NEAR Chain Signatures marks a significant step ahead, but unlocking Bitcoin's true capability requires the ability to monitor and react to its state,\" stated Alex Shevchenko, CEO of Aurora Labs, in a written statement. \"This is exactly why we’ve developed a trustless Bitcoin Light Client that operates as a smart contract. Together with Chain Signatures, we are paving the way for Bitcoin's entrance into the DeFi sphere,\" he elaborated.

Aurora Labs' Bitcoin Light Client acts as a smart contract within the NEAR ecosystem, enabling decentralized applications (dApps) on NEAR to validate Bitcoin transactions while ensuring they have access to the latest Bitcoin state. This light client serves as a precursor to an upcoming Bitcoin bridge designed to facilitate the use of Bitcoin assets on NEAR.

Aurora Labs Launches Relayer Service to Keep Bitcoin Network and Light Client Aligned NEAR Furthermore, Aurora Labs has introduced a Relayer Service that maintains synchronization between the light client and the Bitcoin network. This service acts as a conduit, constantly updating the smart contract on NEAR with the most recent Bitcoin transactions. The launch includes a blockchain signature service for NEAR, developed by Proximity Labs, enabling the establishment of native Bitcoin bridges for transferring BTC to and from the NEAR network.

Aurora Labs oversees a collection of Virtual Chains that combine NEAR’s scalability with infrastructure tailored for the easy launch of preconfigured blockchains. With the integration of a high-performance Ethereum Virtual Machine (EVM), the reliable Rainbow Bridge, and advanced Cross Contract Call technology, Aurora not only achieves complete Ethereum compatibility but also fosters a multichain ecosystem.

The Bitcoin Light Client's debut is a crucial step toward creating an integrated Web3 environment that promotes smooth asset transfers between Bitcoin and NEAR. Its introduction lays the groundwork for a variety of advancements that will expand the options available to developers on the NEAR platform.

The soon-to-arrive Satoshi Bridge will enhance this feature by allowing direct BTC deposits into NEAR and interaction with its dApps. This bridge will not only bring BTC into the NEAR space but also enable

thereby fostering the development of innovative DeFi applications that leverage both Bitcoin and NEAR capabilities.

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