The Aurora ecosystem has now joined forces with Fireblocks. As a result, all institutional users on the network will have a better chance of linking up with swift and very cost-effective means of handling their own financial matters. This will provide them with further assurance that all safety factors are in place. Fireblocks will play a significant and accountable role in this context.
This is due to the entity’s primary role in facilitating the efficient management and improvement of asset management-related transactions for its associated users. Tokens, exchanges, settlement concerns, and analytics are all areas that require careful administration in order to function smoothly, which is why they are essential to the success of the network. All of this will be feasible by utilizing the resources of a single user-friendly platform.
To gain a better understanding of what exactly this merger entails, it becomes imperative to unearth a bit more on the basic functionalities of the two entities. In the case of Aurora, it happens to be an Ethereum Virtual Machine (EVM), which has been created on the NEAR Protocol, which is a proof-of-stake-oriented Layer 1 blockchain.
The entity provides the opportunity for dApps to upgrade with the help of competitively priced gas-related fees effectively. Even for every transaction, the processing time has been lowered to just 2 seconds.
On the other hand, Fireblocks happens to be an extremely user-friendly platform. This platform provides all of the connected users with the opportunity to build unique products on the blockchain. It also assists in the control of all crypto-based activities. Despite these primary features and functions, the entity supports over 1,100 distinct tokens and approximately 30 distinct exchanges, all on the Fireblocks network.