Near Foundation Introduces Chain Signatures and Multichain Transactions
The Near Foundation, which supports the Layer 1 Near Protocol, has announced that it now supports chain signatures. This advancement allows users to access multiple chains using their Near account, enhancing interoperability and user experience.
Chain signatures and multichain transactions have been made possible through a recent partnership with EigenLayer, a restaking project built on Ethereum. EigenLayer’s expertise and collaboration have contributed to the security and functionality of the Chain Signatures network, further strengthening Near Protocol’s ecosystem and capabilities.
One small step for man.
One giant leap for Chain Abstraction.
Chain Signatures, secured by EigenLayer and NEAR stakers, enable transactions on any blockchain from your NEAR account.
Start building with Chain Signatures today ⛓️https://t.co/sUPvXw75yy pic.twitter.com/3cxb6eOtYM
— NEAR Protocol (@NEARProtocol) March 27, 2024
Near Foundation announced a partnership with Eigenlayer, unveiling the Chain Signatures protocol. This innovative technology empowers NEAR accounts and smart contracts to sign transactions for any blockchain, revolutionizing cross-chain interoperability and unlocking a myriad of use cases for mainstream users and Web3 builders.
Chain Signatures, powered by a decentralized Multi-Party Computation (MPC) network, leverages NEAR staking and EigenLayer ETH restakers for robust security. Currently, the protocol supports major blockchains like Ethereum, Cosmos chains, DogeCoin, and XRP Ledger, with plans for integration with Solana, TON Network, Polkadot, and more in the future.
A key feature of Chain Signatures is the introduction of threshold signatures for any blockchain, controlled by NEAR accounts and smart contracts. This
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