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 blockchains.
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, the following occurred.
Over 600,000 cross-chain messages were processed across supported networks.
Sixty-six independent relayers joined to facilitate message transfer across chains, validating the robustness of the network.
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 the following.
High security and finality guarantees, displacing traditional multisig-based authentication with ZK-proofs (zero-knowledge-proofs) and on-chain finality validation.
Instant access to multi-chain liquidity, unlocking new DeFi use cases for DAOs, stablecoins and RWAs (real-world assets).
Security remains 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.
Seun Lanlege, founder of Polytope Labs, the developers of Hyperbridge, said,
“Bridges are only as strong as their authentication mechanisms.
“By leveraging finality-based authentication and eliminating multisig committees, Hyperbridge offers unmatched security, allowing developers to build the next generation of [DApps] (decentralized applications) with confidence.”
Hyperbridge enables developers to launch cross-chain applications from day one, supporting use cases such as the following.
Non-custodial native bridges for unified liquidity pools.
Cross-chain intents to facilitate seamless token interactions.
Multi-chain expansion for stablecoins, RWAs and DAO governance tokens.
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 on-chain 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 Web 3.0 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 Web 3.0, 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 a 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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November 7, 2024 – Zurich, Switzerland 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
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