NEAR Foundation Launches Chain Signatures for Multichain Transactions

The new feature allows users to sign transactions across various blockchains from a single NEAR account, aiming to simplify DeFi interactions.

NEAR Foundation introduces 'Chain Signatures,' enabling transactions on Bitcoin, Ethereum, Cosmos, DogeCoin, and XRP Ledger from a single NEAR account.
The feature is designed to streamline DeFi protocols by utilizing assets across chains without needing a cross-chain bridge.
Chain Signatures are secured in part by EigenLayer and will soon include support for Solana, TON Network, and Polkadot.
A decentralized multi-party computation (MPC) network powers Chain Signatures, with security provided by NEAR network validators.
The initiative aims to defragment liquidity and simplify access to Web3 for developers and users, enhancing the user experience in a multichain environment.