As the EVM -compatible layer of almost protocol, Aurora Labs specializes in providing services in virtual chains. With a mission to give projects the opportunity to launch their own chains, to have their own ecosystems and environments, Aurora Labs distinguishes itself from other blockchain companies. In this interview in Dubai’s Token2049, our host Eric Spivak spoke with Declan Hannon, VP of Growth at Aurora Labs, to learn more about his role and experiences within the company.
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No code, no costs, no complexity
Prior to Aurora Labs, to launch a special blockchain network, a project should spend countless hours and resources on coding, testing and implementation. This process not only requires technical knowledge, but also produces considerably. With the virtual chain technology of Aurora Labs, however, projects can now launch their own custom chains without writing code. This eliminates the complexity of building a blockchain network completely again and reduces the costs considerably.
“Projects can concentrate on what is important that a great product builds.”
Declan Hannon, VP of Growth at Aurora Labs
Declan emphasizes the efficiency of Aurora Labs by explaining that everyone could go to their website and launch their own chain faster than it would be to complete the introduction of the interview. Everyone (not only engineers) can use Aurora Labs to make a blockchain-based project. This opens the potential for various industries and companies to explore the benefits of blockchain technology, without the barrier of technical expertise.
Virtual chains versus launching traditional chains
As the conversation continued, Declan was encouraged to explain how this all works for someone who is not familiar with blockchain technology. There are currently open-source opportunities or larger roll-up providers that are there, but that costs money. Moreover, the management of that chain adds even more complexity to the system. From validators to oracles, it can all seem overwhelming and that is where virtual chains come in.
“What Aurora has done is to take that complexity and broken away.”
Declan Hannon, VP of Growth at Aurora Labs
When a user enters his website and registers with his e-mail address, they are taken to a chain implementation page. From there they select what kind of chain they would really like or permission. Other specifications such as white frame options are also presented to give builders the opportunity to adjust their virtual chain to meet their needs best. Basic token optionality is also available for those who want specific token units that are attached to their virtual chain.
Focused on almost protocol
Because the almost protocol is the L1 on which these virtual chains are used, the process is still made seamless. Near’s focus, focus on friendliness and efficiency of developers makes it a top choice for builders who want to use their virtual chains. Near has fantastic horizontal scale options that give developers the opportunity to expand their virtual chains if necessary, without any limitations. This ensures a seamless and efficient experience, making a top choice for the use of virtual chains.
“Aurora Labs is the network of virtual block chains.”
Declan Hannon, VP of Growth at Aurora Labs
Congestion is also reduced in this way, making higher transaction speeds and a more stable platform for developers to build. A blockchain with a white label is used as an analogy, where every virtual chain is a unique label on the same underlying blockchain infrastructure. This makes a high level of adjustment and flexibility for developers possible to create their own unique solutions on top of the nearby platform.
Interoperability is unlocked with Aurora Labs
Even if someone builds their own chain, another challenge is to get liquidity in the system. With what the Aurora Labs team calls ‘The Fewarder’ protocol, they can bring their assets from places such as Binance, Coinbase, Kucin, etc., etc. This creates an open ecosystem for assets with their underlying value and rules. With the forwarder, users can each actively bring in anywhere and then use it on other chains, making interoperability in different systems possible.
With one step further than that, they are also almost intensely launched, which is the first Multi-Chain Dex with which users can take assets from every network without even needing a wallet. This intuitive design for the average non-Tech Savvy user will increase accessibility for decentralized financing and help stimulate mainstream acceptance.
Invitation to Web2 companies
By making the process of integration with the blockchain easier easier, Declan is of the opinion that this will open the doors for web2 companies that are interested in the use of blockchain technology to improve their services. With the potential to tap a wider audience and offer additional functions, it is a win-win situation for both parties involved. The difficulty is that these traditional power houses may not have the intricacies of blockchain on which web3 -in -chiefs already have a handle.
This is where the invitation for Web2 companies arrives. Declan believes that by expanding an open invitation and offering their solution as a seamless integration, it will simplify the process for these companies to adopt blockchain technology. This also opens opportunities for cooperation and innovation between web2 and web3 entities.
Last thoughts
On 1 May it is expected that a new service that is known as ‘The Virtual Chain Marketplace’ will be released by the Aurora Labs team. With this new function launched on their cloud console, it will ensure that every project that comes in their ecosystem gets all the support they needed.
In addition to the infrastructure, Declan shares examples such as Tokenomics simulators to ensure that every aspect of a blockchain project is well thought out and planned. Legal assistance is also provided through partnerships with law firms to ensure that projects meet the regulations in various areas of law.
This market will be a hub for all things related to the launch of a chain and we are pleased to see how it will continue to evolve and support the growth of blockchain projects. It is clear that Declan and the team of Aurora Labs are committed to offering an extensive solution for blockchain projects, of the development of the launch.