Aurora, an Ethereum virtual machine (EVM) designed to scale decentralized applications (DApp) built on the Near protocol, has announced a first round of funding of $ 12 million.
The round included more than 100 venture capitalists, including Pantera Capital and Electric Capital.
According to an official statement, Aurora will use the funds to expand cross-chain capabilities beyond its current offering, in addition to hiring specialist developers to support the growth of Ethereum’s scale-up.
The scaling solution seeks to facilitate interoperability between blockchains through its EVM connection and multichain bridge, providing developers with the accessibility to launch DApps with multichain functionality. Aurora also revealed that it is in the development phase of building a price oracle, data indexer, automated market maker exchange and block explorer, among other features.
EVM is a blockchain-based computing engine at the heart of Ethereum’s operating system, responsible for executing transactions, deploying smart contracts, and other operating features, in addition to enabling developers to create DApps on its blockchain.
It was recently announced that blockchain data explorer Etherscan has partnered with Aurora to bring its proprietary Ethereum service to participants of the Near protocol. Aurora CEO Alex Shevchenko said:
“Our goal at Aurora has been to create a future where the obvious gaps between blockchains, developers and users are seamlessly closed. The success of this funding strengthens Aurora’s appeal to our community and our goal of providing scaling solutions across the crypto ecosystem.
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In July of this year, it was announced that Crypto.com had deployed its proof of authority EVM testnet allowing developers and builders to transfer their Ethereum-built projects between chains to other EVM-compatible ecosystems. .