NEAR Foundation Releases Chain Signatures to Streamline Transactions
CryptoNewsTerminal Staff08 Aug, 2024
NEAR Foundation Releases Chain Signatures to Streamline Transactions
NEAR Foundation, the organization behind the NEAR blockchain, has announced the release of Chain Signatures on its mainnet. This feature, first introduced on the testnet in March, enables users to sign transactions without requiring cross-chain bridges, significantly streamlining the transaction process. As explained by NEAR Foundation, Chain Signatures forms part of chain abstraction, which allows users to bypass intermediary steps when transacting on other networks. This results in faster and more seamless transactions. By eliminating the need for cross-chain bridges, NEAR's Chain Signatures enhances efficiency, reducing transaction fees and delays associated with bridge usage. The implementation of Chain Signatures marks a significant milestone for NEAR, as it further enhances its scalability and user-friendliness. Developers and users can now enjoy a more streamlined and cost-effective transaction experience on the NEAR blockchain.
