Zurich, Switzerland, November 7, 2024, Chainwire
Polkadot launched to support Hyperbridge, Ethereum, Optimism, BNB Chain, etc.
Hyperbridge, the highly anticipated blockchain interoperability protocol, has officially launched, opening up new possibilities for seamless cross-chain communications. Following $2.5 million in seed funding led by the Web3 Foundation and Scytale Digital, Hyperbridge now brings its groundbreaking technology to users, providing secure, scalable, and verifiable cross-chain solutions across multiple blockchains. Hyperbridge launches native support for Ethereum, Optimism, Arbitrum, Base, BNB Chain, and Gnosis.
The journey to launch Hyperbridge has been thorough and the project has completed two testnet cycles. During this cycle:
- Over 600,000 cross-chain messages were processed on supported networks.
- 66 independent relayers joined to facilitate message transmission across the chain, validating the robustness of the network.
This extensive testing ensures a seamless mainnet experience with Hyperbridge now capable of providing unparalleled cross-chain messaging and liquidity solutions.
At launch, Hyperbridge will introduce a token bridge (gateway, arbitrary message passing, and state querying across multiple ecosystems) for asset transfers. Gateway provides:
- It guarantees high security and finality, replacing existing multi-sig based authentication with zk proof and on-chain finality verification.
- Get instant access to multichain liquidity, unlocking new DeFi use cases for DAOs, stablecoins, and real-world assets.
Security remains paramount in the Hyperbridge design, addressing challenges faced by existing multi-signature bridges that previously resulted in over $2 billion in exploits. Hyperbridge leverages the zk-light client and storage proofs to ensure the same security model as blockchain, authenticating and linking messages.
“A bridge is only as strong as its authentication mechanism,” said Seun Lanlege, founder of Hyperbridge developer Polytope Labs. “By leveraging finality-based authentication and eliminating multi-signature committees, Hyperbridge delivers unparalleled security, allowing developers to build the next generation of distributed applications with confidence.”
Hyperbridge enables developers to launch cross-chain applications from day one and supports use cases such as:
- Non-custodial native bridge for integrated liquidity pools.
- Cross-chain intents to facilitate seamless token interactions.
- Multichain extension for stablecoins, real-world assets, and DAO governance tokens.
As blockchain adoption accelerates, interoperability becomes more important. Hyperbridge aims to be at the forefront of this change, providing developers and projects with a reliable, secure, and scalable cross-chain infrastructure that opens new horizons in DeFi, DAOs, and on-chain finance.
Introduction to Hyperbridge
Hyperbridge is a cryptocurrency coprocessor for secure and verifiable interoperability based on consensus and storage proofs. Hyperbridge is the HTTPS of blockchain interoperability, providing developers with on-chain and off-chain SDKs to securely send cross-chain messages (POST requests) and read on-chain storage (GET requests).
Introduction to Polytope Lab
Polytope Labs is a collective of researchers and engineers founded by key developers of Ethereum, Polkadot, and IBC. We are focused on solving the fundamental infrastructure issues that continue to hinder the cryptocurrency industry, such as interoperability, scalability, and privacy. We strongly believe that Web3 is the next evolutionary step for the Internet and are committed to advancing truly decentralized technology.
Introduction to Polkadot
Polkadot is the powerful and secure core of Web3, providing a shared foundation that integrates the world’s most innovative apps and blockchains. Polkadot has an advanced modular architecture that allows developers to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standards for secure block production across all connected chains and connected apps, and a transparent system. Provides strong governance that ensures Everyone has a say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, users are not just participants, but co-creators with the power to shape the future.
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