• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Flare Integration with zkBridge Approved by Polyhedra Community

Flare Integration with zkBridge Approved by Polyhedra Community

user avatar

by Giorgi Kostiuk

2 years ago

  1. What is zkBridge?
  2. Key Figures' Reactions
  3. Benefits for Flare Users

    4. The Polyhedra community has approved the integration of zkBridge with the Flare platform. This integration will allow Flare developers to create secure and efficient cross-chain applications using the cryptographic guarantees of ZK proofs.

    What is zkBridge?

    zkBridge is one of LayerZero's Decentralized Verifier Networks (DVNs), representing a trustless, efficient, and secure cross-chain interoperability protocol. zkBridge has successfully verified over 20 million cross-chain transactions and supports over 30 layer-1 and layer-2 networks. Using zkSNARKs, zkBridge enables a prover to convincingly demonstrate to the receiving chain that a particular state transition occurred on the sending chain. Only one honest validator set member is required for bridging viability and safety, thanks to ZK proofs.

    Key Figures' Reactions

    The announcement of this new partnership has received positive feedback from key stakeholders. Flare Co-founder Hugo Philion remarked, "Polyhedra's zkBridge adds an additional security layer to LayerZero's interoperability protocol and will be welcomed by Flare developers and users alike. Its integration demonstrates the value of ZK technology in facilitating the free flow of value between networks."

    We are excited that the Polyhedra community has voted to support the integration of Flare with zkBridge. The activity level on Flare has been ramping up, and reliable bridging protocols are key to this while maintaining decentralization. We look forward to seeing how Flare developers utilize zkBridge to create dapps that draw data from a rich variety of multi-chain protocols.Eric Vreeland, Chief Strategy Officer of Polyhedra

    Benefits for Flare Users

    To securely transmit and validate block headers and consensus across several chains, zkBridge utilizes zkSNARKs. This allows proof to be generated quickly and reduces the cost of verification on the blockchain thanks to a two-layer recursive proof system. Polyhedra's zkLightClient technology enables the efficient batching of multiple transactions into a single proof, significantly reducing on-chain verification costs and latency. Dapps deployed on Flare can use zkBridge to access data from other networks, enabling robust cross-chain financial applications for DeFi, such as prediction markets, trading, and perps.

    The integration of Polyhedra's zkBridge simplifies the free flow of assets and data to Flare while adding an extra layer of protection to the LayerZero messaging protocol. As more users join Flare's growing DeFi ecosystem, the number of wallets on the platform has surpassed 1 million.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

SUI Group Increases Loan to Bluefin, Strengthening DeFi Ties

chest

SUI Group Holdings Limited has expanded its lending agreement with Bluefin, increasing the total loan to 6 million SUI to support Bluewater Labs' acquisition of Suilend.

user avatarLuis Flores

Sui Seal MPC Introduces Hidden Bids for Enhanced AI Trading Security

chest

Mysten Labs has introduced a feature in the Sui Seal MPC system that enables hidden bids for AI trading, enhancing security and reducing risks of frontrunning.

user avatarMaria Gutierrez

Mysten Labs Introduces Sui Seal MPC for Secure AI Transactions

chest

Mysten Labs has launched Sui Seal MPC on the Sui mainnet, enabling autonomous AI agents to execute onchain transactions securely without holding private keys.

user avatarArif Mukhtar

Chainlink Collaborates with Project Pangea to Revolutionize Cross-Border FX Settlements

chest

Chainlink partners with Project Pangea to enhance cross-border FX settlements, aiming to reduce settlement times from T2 to T0 using stablecoins by mid-2027.

user avatarDavid Robinson

SecondFi Suspends Services Due to Critical Wallet Flaw

chest

SecondFi has suspended its services due to a critical vulnerability in its wallet generation software that led to the theft of ADA.

user avatarAndrew Smith

Morgan Stanley's Proposed Solana Trust Filing Sparks Market Interest

chest

Morgan Stanley has amended its S1A filing for a proposed spot Solana Trust, focusing on fees and staking plans.

user avatarJacob Williams

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.