The Near Foundation, which supports the Near Protocol, has announced the integration of chain signatures into the protocol. This feature allows users to access multiple blockchains using their Near account.

Eigenlayer, a restaking project on Ethereum, has partnered with Near to enhance the security of the chain signatures network. Powered by decentralized multi-party computation (MPC) and secured by Near validators, chain signatures enable users to sign transactions on one blockchain using a private key from another blockchain, facilitating cross-chain interoperability and simplifying access to multiple blockchains through a single account.

This development opens up new possibilities for decentralized finance (DeFi) on various networks, including Bitcoin. Currently operational on Near's testnet, the feature is set to roll out on the mainnet by early May.

Near aims to enhance the user experience in the multichain ecosystem with its "chain abstraction" initiative. Despite achieving significant growth in user engagement, the foundation has reduced its workforce by 40%, and its former CEO, Marieke Flament, departed in September 2023.