Zurich, Switzerland, November 7th, 2024, Chainwire

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:

• 600,000+ cross-chain messages were processed across supported networks.
• 66 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:

• High security and finality guarantees, displacing traditional multisig-based authentication with zk-proofs and on-chain finality validation.
• Instant access to multichain liquidity, unlocking new DeFi use cases for DAOs, stablecoins, and 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.

“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 confiden

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Author: Crypto Daily™