Blockchain Network Running on NEAR Protocol Crashes! Developers Explained! Here Are the Details

Aurora, an Ethereum Virtual Machine (EVM) compatible blockchain network running on the $NEAR Protocol, reportedly experienced access issues on its mainnet. According to information shared by Onchain Lens, the Aurora mainnet became unavailable at 05:16:11 and the outage was ongoing at the time of writing.

Aurora stands out as a layer that enables Ethereum-based decentralized applications (dApps) and smart contracts to run on the $NEAR Protocol infrastructure with lower transaction costs and higher scalability. Thanks to EVM compatibility, developers can migrate existing Ethereum applications to the Aurora network without making significant changes.

In its 2021 funding round, the project raised a total of $12 million from investors including leading venture capital firms in the sector such as Pantera Capital, Electric Capital, and Dragonfly Capital.

At the time, Aurora, which offered alternative solutions to Ethereum’s high transaction fees, stood out and achieved significant growth in the decentralized finance (DeFi) ecosystem.

However, DeFiLlama data shows that the network has shrunk significantly in recent years. Aurora’s total value of assets locked (TVL) peaked at approximately $2.5 billion in 2022, but subsequently declined by about 99 percent to $4.65 million due to market contraction and decreased user interest.

Aurora has not yet released an official statement regarding the cause of the main network outage. It remains unclear whether the problem was due to a technical malfunction, scheduled maintenance, or another reason.

Experts say that such outages on blockchain networks can temporarily affect user transactions, decentralized finance applications, and smart contracts. While the Aurora team is expected to continue working to resolve the issue, users are advised to follow announcements from official channels.

*This is not investment advice.