The Rainbow Bridge, which connects the NEAR blockchain to Ethereum, is live.
NEAR Protocol is a proof-of-stake blockchain that hosts the NEAR platform, a decentralized development platform that facilitates scalable, decentralized apps with low gas fees and fast transaction speeds.
The Rainbow Bridge is a decentralized, permissionless bridge protocol built by NEAR Protocol that allows anyone to use an existing bridge or deploy a new bridge. With the Rainbow Bridge, users will now be able to move any ERC-20 token back and forth between NEAR and Ethereum.
These ERC-20 assets can be sent to NEAR wallets directly from Metamask or other Web3 wallets. Ethereum users can claim a NEAR account by logging into Metamask on the NEAR Faucet, as long as their Metamask wallet holds a balance of at least 0.05 ETH.