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Cryptocurrency News Articles
Hyperbridge Launches on Polkadot with Support for Ethereum, Optimism, BNB Chain, and More
Nov 07, 2024 at 11:31 pm
Hyperbridge, the highly anticipated blockchain interoperability protocol, has officially launched, unlocking new possibilities for seamless cross-chain communication.
Hyperbridge Launches on Polkadot with Support for Ethereum, Optimism, BNB Chain, and More
Hyperbridge, the highly anticipated blockchain interoperability protocol, has officially launched, unlocking new possibilities for seamless cross-chain communication. Following its $2.5 million seed funding led by the Web3 Foundation and Scytale Digital, Hyperbridge now brings its groundbreaking technology to users, delivering secure, scalable, and verifiable cross-chain solutions across multiple blocketti.
Hyperbridge launches with native support for Ethereum, Optimism, Arbitrum, Base, BNB Chain, and Gnosis.
The journey to Hyperbridge’s launch has been thorough, with the project completing two testnet cycles. During these cycles:
Over 100 validators participated in securing the Hyperbridge network.
Multiple decentralized applications (dApps) were connected and showcased cross-chain functionality, including Bastion, Chainlink, and Liquity.
Over $100 million in cross-chain assets were bridged via Hyperbridge Gateway.
This extensive testing ensures a smooth mainnet experience, with Hyperbridge now equipped to provide unmatched cross-chain messaging and liquidity solutions.
At launch, Hyperbridge introduces a token bridge for asset transfers: Gateway, arbitrary message passing, and state queries across multiple ecosystems. Gateway offers:
Native support for seven blockchains at launch, with more to be added in the coming weeks.
The ability to bridge any ERC-20, BEP-20, or OPT-20 token between supported chains.
Fast bridging times of under five minutes for common use cases.
Security is paramount to Hyperbridge’s design, addressing challenges faced by conventional multisig bridges that have previously resulted in over $2 billion in exploits. Hyperbridge leverages zk-light clients and storage proofs to authenticate messages, ensuring a security model equivalent to the blockchains it connects.
“Bridges are only as strong as their authentication mechanisms,” said Seun Lanlege, founder of Polytope Labs, the developers of Hyperbridge. “By leveraging finality-based authentication and eliminating multisig committees, Hyperbridge offers unmatched security, allowing developers to build the next generation of decentralized applications with confidence.”
Hyperbridge enables developers to launch cross-chain applications from day one, supporting use cases such as:
Cross-chain decentralized finance (DeFi) protocols that offer new possibilities for traders, liquidity providers, and protocols.
Interoperable non-fungible token (NFT) marketplaces that connect creators, collectors, and NFT projects across different chains.
Metaverse applications that seamlessly integrate assets, experiences, and interactions from multiple blockchain ecosystems.
As blockchain adoption accelerates, interoperability becomes even more critical. Hyperbridge aims to be at the forefront of this shift, offering developers and projects a reliable, secure, and scalable cross-chain infrastructure that opens new frontiers for DeFi, DAOs, and on-chain finance.
About Hyperbridge
Hyperbridge is a cryptoeconomic coprocessor for secure, verifiable interoperability powered by consensus and storage proofs. Hyperbridge is the HTTPS of blockchain interoperability, providing developers with onchain and off-chain SDKs for securely sending cross-chain messages (POST requests) and reading on-chain storage (GET requests).
About Polytope Labs
Polytope Labs is a collective of researchers and engineers founded by core developers of Ethereum, Polkadot, and IBC. We’re focused on addressing fundamental infrastructure problems that continue to hold back the crypto industry, such as interoperability, scalability, and privacy. We firmly believe that Web3 is the next evolutionary step of the internet, and we are fully committed to advancing truly decentralized technologies.
About Polkadot
Polkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world’s most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, users are not just participants, they’re co-creators with the power to shape its future.
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