Aurora

NEAR Protocol

Light

Bitcoin

Blockchain developer Aurora Labs has launched the Bitcoin Light Client, connecting Bitcoin with NEAR Protocol for the first time.&nbsp;
The Bitcoin Light Client functions as a smart contract on the NEAR network. What does that mean? All NEAR-based decentralized applications (dApps) can now verify Bitcoin transactions, making sure that NEAR can stay in sync with the latest Bitcoin blockchain state.&nbsp;
The Aurora team says that this Light Client lays the groundwork for a future where Bitcoin assets can be used on NEAR, opening up a range of possibilities for both networks. Aurora Labs’ CEO Alex Shevchenko said that:
<blockquote>
 “There’s a lot of untapped value in the Bitcoin ecosystem. NEAR Chain Signatures are a solid step forward, but to really unlock Bitcoin’s potential, we need the ability to read and act on its state.”
</blockquote>
But there’s more. Aurora Labs has also introduced a Relayer Service. This service ensures that the Light Client remains updated with the latest transactions from the Bitcoin network, acting as a continuous bridge between the two ecosystems.&nbsp;
This is an ongoing connection that keeps NEAR and Bitcoin in sync. In addition to Aurora’s developments, Proximity Labs has rolled out a chain signature service specifically for NEAR.&nbsp;
This service is key to building native Bitcoin bridges, allowing for the transfer of Bitcoin (BTC) to and from the NEAR network.&nbsp;
It’s a step toward creating a more unified web3 experience, where assets can move freely between Bitcoin and NEAR without unnecessary friction. Aurora explains that the chain signature service plays an important role in this integration.&nbsp;
With Aurora’s Bitcoin Light Client forming the foundation, the chain signature service enables these assets to move across networks. 
The <a href="https://aurora.dev/" rel="noopener noreferrer nofollow" target="_blank">team</a> explained that, “After initiating its development, Aurora Labs is handing over the project to NEAR One to continue its growth and progress.”

Aurora launches Light Client, connecting Bitcoin and NEAR

Cryptopolitan_News

Other articles published on Aug 13, 2024

Starbucks Stock Surges as Coffee Giant Names New CEO and Chairman

$14M in CAKE Burned: 9 Million Tokens Removed

BNB Chain Announces Winners of Second BNB Incubation Alliance Round

South Korean CEO Detained Over Alleged $366M Crypto Fraud

Binance Lists TON Coin on Launchpool

Bifrost Unveils New Tokenomics with Enhanced Revenue Sharing Model

Join our free newsletter for daily crypto updates!