• 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

The Importance of Shutdown Plans for Old DeFi Contracts

chest

The Aztec Connect incident highlights the necessity of shutdown plans for deprecated DeFi contracts to reduce security risks.

user avatarKofi Adjeman

Aztec Connect Contract Exposes DeFi Risks

chest

A security researcher has revealed a potential exploit in the Aztec Connect contract, highlighting the dangers of deprecated DeFi infrastructure.

user avatarTando Nkube

Farside Investors Implements Strict Editorial Policy

chest

Farside Investors has introduced a strict editorial policy focusing on accuracy, relevance, and impartiality to enhance content quality and reliability, improving trust and credibility among investors.

user avatarSatoshi Nakamura

Farside Investors Tracks ETF Flow Ledger

chest

Farside Investors is currently tracking ETF flow through their dedicated flow ledger, allowing them to monitor investment trends and movements for better insights into market dynamics.

user avatarNguyen Van Long

XRP Faces Key Resistance Levels Ahead

chest

XRP price is approaching significant resistance levels that could impact future movements.

user avatarJesper Sørensen

XRP Price Demonstrates Robust Ascending Trend.

chest

XRP price shows strong upward momentum, consolidating gains and aiming for higher levels.

user avatarRajesh Kumar

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.