Near Foundation and Eigen Labs Partner to Enable Faster, Cheaper Web3 Transactions
The Near Foundation, the organization behind the Near protocol, has announced a partnership with Eigen Labs, a startup working on the restaking protocol Eigen Layer. The collaboration’s main objective is to facilitate cheaper transactions for Ethereum rollups, significantly reducing latency and liquidity fragmentation between Layer 2s. According to a statement, transactions will be processed within three to four seconds using low-latency cross rollup communication.
Benefits of the Collaboration
This partnership will bring fast settlement for cross-rollup transactions and promote the adoption of restaking across the Ethereum ecosystem and beyond. For Near, the collaboration extends to transitioning the Near-Ethereum Rainbow Bridge to an actively validated service (AVS), enhancing bridging between Near and Ethereum with faster finality, stronger security guarantees, and decentralization.
Eigen Labs’ Contribution
Eigen Labs’ technology will provide a fast finality layer for ETH rollups, showcasing NEAR’s strengths and making the Open Web more usable. This collaboration aims to defragment liquidity for Ethereum rollups and enhance interoperability within web3.
Hot Take: Driving Innovation in Web3
The partnership between Near Foundation and Eigen Labs represents a significant step forward in driving innovation within web3 by enabling faster and cheaper transactions for Ethereum rollups. This collaboration not only showcases the strengths of NEAR’s technology but also promotes interoperability and usability across different platforms, ultimately benefiting the entire web3 ecosystem.
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