Aurora is a product designed to facilitate the transition of Ethereum users and decentralized applications (dApps) to the NEAR blockchain. It provides a platform for users to upload and interact with Solidity smart contracts on the NEAR blockchain and transfer assets, including ERC-20 tokens, between Ethereum, NEAR, and Aurora via the Rainbow Bridge. Aurora's base token is ETH, which may be familiar to developers. The AURORA token is intended to facilitate community participation in decision-making processes related to protocol upgrades. Aurora is governed by AuroraDAO, which includes representatives from various ecosystems and sectors of the blockchain industry.

Aurora operates as an Ethereum Virtual Machine (EVM) implemented as a smart contract on the NEAR Protocol. It seeks to scale the Ethereum ecosystem, allowing developers to operate their apps on an Ethereum-compatible, high-throughput platform with low transaction costs. Aurora is compatible with many tools in the Ethereum ecosystem, such as MetaMask, Truffle, Hardhat, and Remix. It also features NEAR's trustless bridge to Ethereum, meaning the assets on Aurora are the same as Ethereum. For instance, account balances in Aurora's EVM are denominated in the same Ether (ETH) as on Ethereum itself.

Aurora seeks to enhance the user experience in the blockchain industry by providing a platform that allows Ethereum users and dApps to easily transition to the NEAR blockchain. It enables users to upload and interact with Solidity smart contracts on the NEAR blockchain and transfer assets between Ethereum, NEAR, and Aurora. This positions Aurora as a potential option for developers seeking to operate their apps on an Ethereum-compatible platform with low transaction costs. Furthermore, Aurora's governance token, AURORA, is intended to facilitate community participation in decision-making processes related to protocol upgrades.

Aurora was developed by Aurora Labs, led by CEO Dr. Alex Shevchenko, a Ph.D. holder in physics and math, and a blockchain enthusiast since 2015. The team also includes Arto Bendiken, the CTO, and Frank Braun, the Head of Security & Infrastructure, among others. The AURORA Token Generation Event took place on November 18, 2021. The token supply is fixed at 1,000,000,000 tokens (one billion $AURORA), with a specific allocation and unlocking scheme for different stakeholders. Aurora has received support from venture capital firms including Pantera Capital, Electric Capital, and Dragonfly Capital.

Aurora utilizes a variety of strategies with the intention of optimizing transaction speeds and reducing network congestion. It employs a consensus protocol, such as Proof of Stake (PoS), to validate transactions and secure the network. Optimizing a node's participation in the consensus process aims to optimize performance. Aurora also encourages regular updates to the latest stable version of its software, which often includes performance improvements and security patches. To speed up the synchronization process, Aurora offers fast sync or snapshot mode, which allows a node to synchronize with the network by downloading a snapshot of the blockchain history instead of starting from scratch. Aurora utilizes database settings adjustments and resource usage monitoring to optimize performance. For those running multiple Aurora full nodes, load balancing techniques can be implemented to distribute incoming network requests evenly, with the intention of optimizing overall performance. Lastly, Aurora employs Layer 2 scaling solutions, which move certain processes or transactions off-chain while maintaining the security and integrity of the underlying decentralized system.

The Aurora ecosystem is composed of several key components. The Aurora Engine is an Ethereum Virtual Machine (EVM) that enables developers to operate their applications in an Ethereum-compatible environment. The Aurora Bridge is another essential component that aims to facilitate the transfer of ETH and ERC-20 tokens between Ethereum and Aurora. The ecosystem also includes a governance structure, the AuroraDAO, which is a Decentralized Autonomous Organization complemented by a traditional entity. Aurora also includes a staking platform, Aurora+, and a hardware-as-a-service business model in partnership with Continental. Various projects have launched on Aurora as part of the ecosystem.

Bridging assets from Ethereum to Aurora involves a series of steps that users need to follow. Initially, users need to connect their wallets to both the Ethereum and Aurora networks. This is done by selecting Aurora as the "From" network and Ethereum as the "To" network. Upon connecting both wallets, users have the option to select the specific token they wish to send and specify the transfer amount. It's important to note that all transfers to Ethereum require two transactions, with one of them required after the first one has been completed. This means that users have the option to return to the bridge page and manually initiate the second transaction. The first transaction may take up to 16 hours on average and cannot be canceled. Once the first transaction has been processed, users have the option to return to the bridge page and click "Finalize Transfer". They will then be redirected to their wallet, which will prompt the fee that Ethereum will charge for the second transaction. Upon confirming the amount, the transfer process is initiated. Users have the option to finalize the transfer at a time of their choosing, as the assets remain within the user's control.

Aurora's Rainbow Bridge is a mechanism that enables the transfer of digital assets between Ethereum, NEAR, and Aurora in a trustless and permissionless manner. The process begins when a user indicates a desire to transfer a specific amount of digital assets from one network to another. The original network then locks these digital assets in a smart contract, effectively removing them from circulation. The user then provides proof of this lock to the receiving network. The receiving network independently verifies this proof and, upon successful verification, issues an equivalent amount of new digital assets to the user's account. This process can be reversed when the user wishes to move their digital assets back to the original network. The Rainbow Bridge utilizes several technical components, including a user interface, LiteNodes, Relayers, and Connectors, to facilitate this process. The LiteNodes store block headers, the Relayers keep the LiteNodes updated, and the Connectors manage the cross-chain logic of a given asset type.

Aurora seeks to uphold manageable transaction processes for its users by utilizing the inherent capabilities of the NEAR Protocol. The base token of Aurora is ETH, which is familiar to many users in the digital asset space. This approach typically results in transaction processes amounting to just pennies. And, the underlying model of NEAR presents innovative possibilities, such as AuroraDAO directed mechanisms that channel a portion of accumulated non-monetary contributions back to the projects running on Aurora. This strategy intends to maintain manageable transaction processes for users.