Aurora Brings Bitcoin to NEAR

Another step towards Chain Abstraction: Aurora developed the Bitcoin Light Client and Relayer service to enable the seamless interaction between the Bitcoin Network and NEAR Protocol, opening the gates to new DeFi use cases.

The Vision

Since 2018, NEAR Protocol has been on a mission to simplify Web3 by abstracting away the blockchain technology from users and bringing interoperability to an increasingly fragmented Web3 landscape.

The launch of the Bitcoin Light Client is a crucial step towards achieving Chain Abstraction and a truly unified Web3 experience. With this launch, NEAR and Aurora are making interactions with the Bitcoin network effortless, paving the way for exciting new developments. These include the launch of the Satoshi Bridge, which allows direct BTC deposits into NEAR and interaction with its dApps, leveraging NEAR Protocol, integrating Rune and Ordinals, and many more DeFi use cases in the future. Another early adopter of the BTC Light Client is Allstake. It utilizes the light client as part of its native BTC staking solution for shared security; the feature is estimated to be live in the 6~8 weeks

Aurora’s Role

Aurora Labs has been on NEAR’s side since the very beginning, supporting its mission to empower builders to create future proof applications that can scale to billions of users across all blockchains. With the launch of the Bitcoin Light Client it was no different.

To integrate Bitcoin into NEAR, Aurora developed the Bitcoin Light Client and a relayer service. The light client, functioning as a smart contract on the NEAR network, can verify Bitcoin transactions. The relayer keeps this smart contract in sync with the Bitcoin network, ensuring the NEAR network is always up-to-date with Bitcoin transactions. This is the setup that forms the backbone of a future Bitcoin Bridge, enabling smooth transfers and validations of Bitcoin transactions within the NEAR ecosystem.

Key Components

Bitcoin Light Client: The light client allows dApps on NEAR to verify Bitcoin transactions. This is a crucial building block for creating a Bitcoin bridge on NEAR, providing a way to securely track Bitcoin transactions.

Relayer Service: The relayer service ensures that the light client remains in sync with the Bitcoin network. It acts as a bridge, continuously updating the smart contract on NEAR with the latest Bitcoin transactions.

Chain Signatures: Alongside the light client, NEAR is launching a chain signature service. This service will enable the creation of native Bitcoin bridges by allowing the transfer of Bitcoin to and from the NEAR network, further enhancing the interoperability with the Bitcoin Network, opening up new exciting use cases.

What’s Next?

With the launch of the Bitcoin Light Client, we have laid the foundations for developers to create advanced financial applications, payment processors, and more by leveraging the combined strengths of Bitcoin, NEAR, and Aurora. After kicking off its initial development, we are now handing over the project to NEAR One, the research and development hub for NEAR’s infrastructure, to ensure its continued growth and progress.

We’re excited to see how the Bitcoin Light Client will shape the NEAR and Aurora ecosystems, driving innovative DeFi projects and creating a future where Bitcoin transactions seamlessly integrate into a wide range of NEAR dApps and Virtual Chains. Explore the Bitcoin Light Client GitHub and start building today!

About Aurora

Aurora is a network of Virtual Chains that combines NEAR’s scalability with powerful infrastructure for the easy deployment of preconfigured blockchains. By integrating a high-performance EVM, the trustless Rainbow Bridge, and advanced Cross Contract Call technology, Aurora goes beyond full Ethereum compatibility, opening the doors to a multichain world.