The Near Foundation has introduced Chain Signatures, a protocol enabling users to sign transactions across intermediary blockchains using a single Near account. Currently operational on Near's testnet, Chain Signatures is expected to go live on the mainnet by early May 2024.

Powered by a decentralized multi-party computation (MPC) network utilized by Near's validators, Chain Signatures enable Near and smart contracts to sign transactions on various blockchains, opening up new decentralized finance (DeFi) possibilities. Additional security layers will be provided by EigenLayer in the near future.

This development allows for DeFi operations on non-smart contract platforms across multiple networks such as Bitcoin and others, facilitating the creation of DeFi-related products without the need for asset bridging. Initially supporting Ethereum, Cosmos chains, Dogecoin, Bitcoin, and XRP Ledger, Chain Signatures will expand its support to include Solana, TON Network, Polkadot, and more in the future.

With a multi-chain gas relayer, Chain Signatures eliminates the need for traditional gas tokens on different chains, enabling users to utilize Near and NEP-141 tokens for gas coverage across all supported chains.