The Near Foundation has unveiled Chain Signatures, a protocol that allows users to sign transactions on more blockchains from a single Near account. Currently live on Near’s testnet, the mainnet launch is expected by early May.
Chain Signatures uses a secure network, backed by Near validators, for Near accounts and smart contracts to sign transactions on any blockchain. This innovative solution empowers Near accounts to control an unlimited number of addresses across various blockchains, unlocking new possibilities in decentralized finance (DeFi).
“NEAR smart contracts can sign transactions for non-smart contract chains like Bitcoin, Celestia, Bittensor, XRP Ledger, and others,” the Near Foundation stated. “This enables DEXs, lending protocols, and other DeFi apps to be built using the native assets of these chains, unlocking previously inaccessible liquidity.”
Initially supporting Ethereum, Cosmos chains, Dogecoin, Bitcoin, and XRP Ledger, Chain Signatures will soon expand to encompass Solana, TON Network, Polkadot, and other blockchain networks, according to Near.
Chain Signatures, a new offering by Near, This development makes it easier for users to navigate multiple blockchains, improving accessibility and integration in DeFi as the crypto industry progresses.
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