- The service was introduced by the company’s CEO Alex Shevchenko
- According to him, Aurora Cloud makes it as easy and fast as possible to launch an EVM-compatible network on top of NEAR.
- And the platform has already made several agreements with big business
Today is June 10, which means that the online marathon of the first day has begun Encrypted Conference 2023. In this article, we will take a closer look at the Aurora Cloud service, which is presented by Aurora Labs CEO Alex Shevchenko.
A few words directly about the blockchain
At the beginning of his speech, Shevchenko briefly described the current state of the Aurora ecosystem. The blockchain was launched in the spring of 2021 and has not been hacked since then.
He also noted that Aurora is fully Ethereum-compatible and has huge scaling potential. The network features extremely low fees and does not leave a carbon footprint.
Web2 business and blockchain
CEO Aurora noted the fact that large businesses are increasingly interested in Web3 solutions. But their approach is extremely one-sided. These counterparties are focused on maximizing profits and retaining the audience.
According to a 2021 Deloitte report, 76% of large businesses surveyed see asset tokenization as a significant long-term benefit. This allows you to increase liquidity, make your business more transparent and attract a new audience. But there is a nuance.
The current development of Web3 does not fully meet the needs of the “whales”. Shevchenko cited Ethereum as an example, where it takes at least 20 seconds to process one transaction.
Aurora Cloud
This is a new development of the company, presented about two months ago. According to Shevchenko, this is the next step in the development of the ecosystem. In fact, development is an infrastructure for launching and managing EVM-compatible blockchains.
These networks are called Aurora Silos. It is a ready-made “basis” for launching a new solution with integrated KYC and AML measures, as well as a customizable fee model, which works on top of the NEAR Protocol.
The platform also plans to introduce another product – the Aurora Pass Web3 wallet. Its main task is to lower the entry threshold for a new audience. The key advantage of the wallet is the complete absence of commissions.
Aurora has already entered into several agreements with large businesses to use the Cloud service. These are the European company Enpower and the game studio Netmarble. As a reminder, you have the opportunity to take part in the event from Aurora on the Zealy platform. A detailed activity guide can be found in a separate article on our website.