Zurich, Switzerland, November 7th, 2024 - Hyperbridge, the awaited blockchain interoperability protocol, has officially launched, unlocking new possibilities for seamless cross-chain communication.
Launching Hyperbridge on Polkadot
Hyperbridge is launched with native support for Ethereum, Optimism, Arbitrum, Base, BNB Chain, and Gnosis. The project received $2.5 million in seed funding led by the Web3 Foundation and Scytale Digital. Hyperbridge successfully completed two testnet cycles during which over 600,000 cross-chain messages were processed, validating the reliability of the network. 66 independent relayers joined to facilitate message transfer across chains.
Technological Innovations and Capabilities
Hyperbridge introduces a token bridge for asset transfers: Gateway, arbitrary message passing, and state queries across ecosystems. Gateway offers high security and finality guarantees, displacing traditional multisig authentication with zk-proofs and on-chain finality validation. The system grants instant access to multichain liquidity, enabling new DeFi use cases for DAOs, stablecoins, and real-world assets. By implementing zk-light clients and storage proofs, it ensures a security model equivalent to the blockchains it connects. Seun Lanlege, founder of Polytope Labs, stated: "Bridges are only as strong as their authentication mechanisms; thus, Hyperbridge leverages finality-based authentication, eliminating multisig committees, and providing unmatched security."
The Future of Cross-chain Connectivity
Hyperbridge enables developers to launch cross-chain applications from day one, supporting cases such as non-custodial bridges for unified liquidity pools, cross-chain intents for seamless token interactions, and multichain expansion for stablecoins and DAO governance tokens. As blockchain adoption accelerates, interoperability becomes crucial, and Hyperbridge aims to lead this shift by offering a dependable, secure, and scalable cross-chain infrastructure for DeFi, DAOs, and on-chain finance.
Hyperbridge marks a crucial advance toward secure and scalable blockchain infrastructure, supporting Web3 growth and offering new possibilities for developers and projects.
