[PRESS RELEASE – Zurich, Switzerland, November 7th, 2024]
Hyperbridge Launches on Polkadot with Assist for Ethereum, Optimism, BNB Chain, and Extra
Hyperbridge, the extremely anticipated blockchain interoperability protocol, has formally launched, unlocking new prospects for seamless cross-chain communication. Following its $2.5 million seed funding led by the Web3 Basis and Scytale Digital, Hyperbridge now brings its groundbreaking know-how to customers, delivering safe, scalable, and verifiable cross-chain options throughout a number of blockchains. Hyperbridge launches with native assist for Ethereum, Optimism, Arbitrum, Base, BNB Chain, and Gnosis.
The journey to Hyperbridge’s launch has been thorough, with the undertaking finishing two testnet cycles. Throughout these cycles:
- 600,000+ cross-chain messages have been processed throughout supported networks.
- 66 impartial relayers joined to facilitate message switch throughout chains, validating the robustness of the community.
This in depth testing ensures a easy mainnet expertise, with Hyperbridge now outfitted to offer unmatched cross-chain messaging and liquidity options.
At launch, Hyperbridge introduces a token bridge for asset transfers: Gateway, arbitrary message passing, and state queries throughout a number of ecosystems. Gateway affords:
- Excessive safety and finality ensures, displacing conventional multisig-based authentication with zk-proofs and on-chain finality validation.
- Instantaneous entry to multichain liquidity, unlocking new DeFi use instances for DAOs, stablecoins, and real-world belongings.
Safety stays paramount to Hyperbridge’s design, addressing challenges confronted by standard multisig bridges which have beforehand resulted in over $2 billion in exploits. Hyperbridge leverages zk-light purchasers and storage proofs to authenticate messages, making certain a safety mannequin equal to the blockchains it connects.
“Bridges are solely as robust as their authentication mechanisms,” stated Seun Lanlege, founding father of Polytope Labs, the builders of Hyperbridge. “By leveraging finality-based authentication and eliminating multisig committees, Hyperbridge affords unmatched safety, permitting builders to construct the following era of decentralized purposes with confidence.”
Hyperbridge permits builders to launch cross-chain purposes from day one, supporting use instances similar to:
- Non-custodial native bridges for unified liquidity swimming pools.
- Cross-chain intents to facilitate seamless token interactions.
- Multichain growth for stablecoins, real-world belongings, and DAO governance tokens.
As blockchain adoption accelerates, interoperability turns into much more crucial. Hyperbridge goals to be on the forefront of this shift, providing builders and initiatives a dependable, safe, and scalable cross-chain infrastructure that opens new frontiers for DeFi, DAOs, and on-chain finance.
About Hyperbridge
Hyperbridge is a cryptoeconomic coprocessor for safe, verifiable interoperability powered by consensus and storage proofs. Hyperbridge is the HTTPS of blockchain interoperability, offering builders with onchain and off-chain SDKs for securely sending cross-chain messages (POST requests) and studying on-chain storage (GET requests).
About Polytope Labs
Polytope Labs is a collective of researchers and engineers based by core builders of Ethereum, Polkadot, and IBC. We’re centered on addressing elementary infrastructure issues that proceed to carry again the crypto business, similar to interoperability, scalability, and privateness. We firmly imagine that Web3 is the following evolutionary step of the web, and we’re absolutely dedicated to advancing actually decentralized applied sciences.
About Polkadot
Polkadot is the highly effective, safe core of Web3, offering a shared basis that unites a few of the world’s most transformative apps and blockchains. Polkadot affords superior modular structure that permits devs to design and construct their very own specialised blockchain initiatives simply, pooled safety that ensures the identical excessive customary for safe block manufacturing throughout all linked chains and apps linked to it, and strong governance that ensures a clear system the place everybody has say in shaping the blockchain ecosystem for progress and sustainability. With Polkadot, customers will not be simply contributors, they’re co-creators with the ability to form its future.
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