Today's Coin...(AURORA)
Aurora. A Bridge + EVM Scaling Solution.
Aurora is a product that helps Ethereum users and dApps to easily move to the NEAR blockchain. The token is a governance token to ensure proper upgrades to the protocol.
The Rainbow Bridge is the official bridge for transferring tokens between Ethereum, NEAR and the Aurora networks. Transfers between NEAR and Aurora require a single transaction, cost a few cents and happen instantaneously.
Ok so Aurora was just listed on Coinbase and this gives the token ready made exposure to all the self proclaimed day traders of the covid generation of retail level investors. This can be good for the valuation once the markets turnaround and like so many tokens and altcoins the value is locked in step to Bitcoin.
If your trying to understand what Aurora does I’ll try to explain-
It cost fees(gas) to trade around an Ethereum wallet like the coinbase wallet or Metamask, Trust wallet etc…These fees can make small trade’s not worth bothering with because the fees on very low value trades will be charged to you and paid to the ethereum network. Aurora allows you to move your Eth to the Near platform where fees are very low per trade. Like 2 to 3 cents per trade low. This is great for those small time “daytraders” trying to make a little money on low value trades or people transferring small amounts for other matters.
So what the hell does this have to do with me, I just buy tokens and hold them?
Nothing- except that when the markets come back the value of the Aurora tokens you hold in your wallet should rise like a boat in the tide…
Recent attacks by hackers have proven unsuccessful to the platform unlike many others.
I own a few tokens as of today and will be purchasing a few hundg over the next few months. As I learn more about using the Rainbow Bridge and the Aurora protocol I will come back and update this Today’s Coin…post.
Not your keys, not your crypto…
