The Near Foundation has introduced Chain Signatures, a protocol enabling users to sign transactions across intermediary blockchains from a single Near account.

According to a Near spokesperson, Chain Signatures is currently live on Near's testnet, with a planned mainnet launch expected in early May 2024.

Chain Signatures is supported by a decentralized multi-party computation (MPC) network utilized by Near network validators.

From the Near Foundation's perspective, Chain Signatures allows Near accounts, along with smart contracts, to sign transactions across all blockchains, opening up new use cases in decentralized finance (DeFi). Additional security layers will be provided by EigenLayer in the future.

The Near Foundation envisions the possibility of decentralized finance (DeFi) involving non-smart contract platforms across multiple networks, including Bitcoin and others. Builders will be able to develop DeFi-related products using assets from different chains without the need for asset bridging.

Currently, Chain Signatures supports Ethereum, Cosmos chains, Dogecoin, Bitcoin, and the XRP Ledger, with plans to support additional networks such as Solana, TON Network, Polkadot, and more in the future.

Additionally, Chain Signatures features a multi-chain gas relayer, eliminating the need for conventional gas tokens on different chains for transaction execution. Users now have the option to utilize Near and NEP-141 tokens to cover gas fees across all chains.