Spherium

When you think of Ethereum, you think of NFTs and high gas fees. However, since Ethereum is one of the largest platforms in cryptocurrency, many Layer 2 projects are building on it to solve some of its biggest problems.Aurora Network, a Layer 2 solution based on the NEAR protocol, might change the game for these dApps while simultaneously scaling Ethereum. In addition, Aurora is compatible with EVMs, unlike Near. Therefore, developers can easily port Ethereum applications to Solidity and write smart contracts.Whenever possible, the Spherium team seeks out partners with the ability to solve major blockchain-related issues. Ethereum is the largest blockchain when it comes to sheltering prominent DeFi platforms. In this context, a project that aims to solve the prevalent issues of this influential network is of great importance to the ecosystem as a whole. We hope to build this framework with Hyperbridge to enable collaboration with robust blockchain infrastructure.Toward this goal, we are pleased to invite a new, innovative layer two protocol to join forces and embark on a cross-chain journey to reinvent the existing blockchain ecosystem.Aurora is an Ethereum Virtual Machine (EVM) based on the NEAR Protocol Blockchain. It aims to provide scaling solutions compatible with Ethereum. The platform offers developers a low-transaction-cost, Ethereum-compatible, high-throughput, scalable, and future-proof platform.<h2 id="header-0">Adding More Value to Hyperbridge Users</h2>Spherium&#39;s approach suits projects that solve existing problems and fill significant gaps in the existing blockchain ecosystem.Aurora is built on NEAR, a modern layer1-blockchain with a 2-3 second transaction finalization time and scalability, which enables its capabilities. Moreover, Aurora Bridge facilitates the trustless transfer of ETH and ERC20 tokens between Ethereum and Aurora.Aurora inherits Near Protocol&#39;s scalability and speed in the following ways:<ul><li>$0.02 average transaction fee</li><li>2-second transaction finality</li><li>50x transactions per second compared to Ethereum 1.0</li></ul>For this reason, we are excited to have Aurora on board.By utilizing our cross-chain bridge, also called a Hyperbridge, you can transfer tokens, assets, smart contract instructions, or data between chains compatible with EVM or not. Although two blockchains have different protocols, rules, and governance models, Hyperbridge connects them securely.Our  Hyperbridge will enable users to do the following:<ul><li>Quickly and easily deploy digital asset transactions;</li><li>Take advantage of low operational difficulty;</li><li>Benefit from lower transfer fees on non-scalable blockchains.</li><li>Implement dApps on a variety of platforms.</li></ul><h2 id="header-1">About Aurora:</h2>Aurora is a layer two protocol that makes it simple for Ethereum users and dApps to migrate to the NEAR blockchain. Users can upload and interact with Solidity smart contracts on the NEAR blockchain and move assets (including ERC-20 tokens) between Ethereum, NEAR, and Aurora via the Rainbow Bridge.Aurora&#39;s base token is ETH to provide the best user experience and familiar tooling for developers. The AURORA token is a governance token that ensures proper protocol upgrades. Aurora is governed by AuroraDAO, which comprises representatives from various blockchain ecosystems and sectors.Learn more about Aurora:<a href="https://aurora.dev/" rel="noopener noreferrer nofollow">Website</a> <a href="https://twitter.com/auroraisnear" rel="noopener noreferrer nofollow">Twitter</a> Discord Telegram<h2 id="header-2">About Spherium Finance:</h2>Spherium Finance is empowering the cross-chain community by developing a suite of DeFi applications that will be fully cross-chain compatible, including a Bridge, Universal Wallet, Token Swap platform, Money Markets, Staking services, Lending/Borrowing protocol, and inter-blockchain liquidity transfer.Spherium has a diverse product portfolio to provide comprehensive DeFi services, including:HyperBridge: An interoperable multi-chain bridge that allows tokens to be quickly bridged between EVM and Non-EVM compatible blockchains.HyperSwap: A cross-chain asset swap that is decentralized and based on an automated market-making mechanism.HyperLend: A decentralized money market where investors can lend or borrow digital assets at interest rates determined by supply and demand.Hyperwallet: A secure and decentralized wallet for Spherium products and services. Spherium offers a unified platform for multi-asset, cross-chain swaps, crypto financing, and cross-chain operability.To learn more about Spherium Finance, please visit our <a href="https://spherium.finance/#/" rel="noopener noreferrer nofollow">website</a>, follow us on <a href="https://twitter.com/spheriumfinance" rel="noopener noreferrer nofollow">Twitter</a>, and join our <a href="https://t.me/spheriumcommunity" rel="noopener noreferrer nofollow">Telegram group</a>.

Spherium Welcomes Aurora to HyperBridge

Table of Contents

Spherium Finance

Other articles published on Aug 26, 2022

Cryptocurrency price update: CARDANO PRICE ANALYSIS : Breakout of bearish flag, will lead ADA to ...

Cryptocurrency price update: AVALANCHE PRICE ANALYSIS :Will bears be able to break the symmetric ...

Crypto News of the Day: Reddit will airdrop free NFTs, Bored Apes track at MTV music awards

Let's @TalkAboat - About Entertainment, as CEO Fabian Reichenberg introduces the first web3 podca...

How 5ire is Solving the Trilemma Puzzle

The Beginnings of GameFi- Avocado DAO's Journey

Join our free newsletter for daily crypto updates!