Illia Polosukhin, co-founder of NEAR Protocol, recently highlighted a significantly "easier and FREE" method for launching Ethereum Virtual Machine (EVM) compatible chains on the NEAR ecosystem. Polosukhin, a prominent figure in the blockchain space, stated in a tweet, > "I don't think anyone knows this but easier and FREE way to launch your own EVM chain is on NEAR. Prob worth make this known." This announcement points to the growing capabilities of the NEAR network, particularly through its Aurora platform.
NEAR Protocol, while not natively EVM compatible, achieves this functionality through Aurora, an EVM built as a smart contract on the NEAR blockchain. This architecture allows developers to deploy and run Ethereum-based applications with enhanced scalability and lower transaction costs. Aurora's innovative "Virtual Chains" are customizable, EVM-compatible blockchain instances that operate as smart contracts atop the NEAR base layer, inheriting its robust security and sharding capabilities.
The "free" and "easier" claims are supported by Aurora's approach to infrastructure. Virtual Chains eliminate the need for projects to set up and manage their own validator sets, a process that can be expensive and complex for traditional Layer 2 solutions or appchains. Instead, they leverage NEAR's existing network of over 220 validators, drastically reducing initial setup costs and operational overhead.
Furthermore, these Virtual Chains come with pre-built integrations for essential services such as on-ramps, oracles, and centralized exchange support. This comprehensive suite of tools streamlines the development process, allowing teams to focus on their decentralized applications rather than infrastructure development. Industry estimates suggest that launching a standalone blockchain can cost tens of millions of dollars, making NEAR's offering a significant cost-saving alternative.
The strategic implications of this development are substantial, fostering a more accessible environment for Web3 innovation. By lowering the financial and technical barriers to entry, NEAR and Aurora aim to attract a broader range of developers and projects, accelerating the growth of the multi-chain ecosystem. This move reinforces NEAR Protocol's commitment to simplifying blockchain adoption and expanding its utility for a diverse array of use cases.