30s Summary

Hyperbridge, a protocol for interoperability of blockchains, has launched its mainnet on Polkadot, with backing from the Web3 Foundation and Scytale Digital. Developed by the team at Polytope Labs, Hyperbridge enhances crosschain transactions by integrating zero-knowledge proofs and onchain finality validation. The mainnet aims to augment a unified blockchain ecosystem by promoting communication between distinct networks. Hyperbridge supports various blockchains, including Ethereum, Gnosis, Base, and BNB Chain, among others. The protocol allows developers to launch applications across multiple blockchains securely, heralding immense possibilities for projects like DAOs, stablecoins and real-world assets.

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Hyperbridge, the much-anticipated protocol that enables different blockchain networks to work together (known as crosschain), has finally launched its mainnet on Polkadot. In standard finance, most networks can’t talk to each other but, different blockchains, being able to work together is a game-changer. It can create a more global blockchain ecosystem that is decentralized and limitless.

Polkadot, a blockchain built to facilitate this kind of cooperation, is happy to have Hyperbridge as part of its ecosystem. The launch marks a big step forward in achieving this. Hyperbridge was born from the talented team at Polytope Labs. The protocol works as a co-processor to securely move data across different blockchains.

Hyperbridge uses leading-edge tech like zero-knowledge (ZK) proofs and onchain finality validation to make secure crosschain transactions possible. It’s a stronger alternative to the old multisig-based bridges you may have heard about.

Hyperbridge supports many prominent blockchains such as Ethereum, Optimism, Arbitrum, Base, BNB Chain, and Gnosis, with even more to come. It enables messages to be sent between the supported blockchains, making the blockchain environment even more united.

Developers can use Hyperbridge to quickly launch applications able to operate across multiple blockchains. Even better, projects striving to run across many blockchain networks, like stablecoins and DAOs (Decentralized Autonomous Organizations), can use Hyperbridge to launch decentralized apps. This proves great flexibility for developers who want to create interconnected projects across various networks.

Funding for the project came courtesy of the Web3 Foundation and Scytale Digital, helping Hyperbridge to raise over $2.5 million making it the most successful parachain crowd loan in the Polkadot ecosystem.

The project has been thoroughly tested with two testnet cycles having been completed. During these trial periods, more than 600,000 crosschain messages were sent between the supported networks.

Hyperbridge now introduces a token bridge for asset transfers, easily replacing old multisig bridges. These have historically proven to be susceptible to breaches costing over $2 billion. The solution? Hyperbridge which uses ZK-proofs and onchain finality validation for both security and anonymity.

By opening up to multichain liquidity, Hyperbridge can expand and create new use cases for a whole range of projects, like DAOs, stablecoins as well as real-world assets.

Security is of utmost importance for Hyperbridge. By integrating ZK-proofs into crosschain operations, they provide a safer alternative than the risky multisig bridges. Their frequent audits by Polkadot’s team help keep high standards of security and compliance.

Seun Lanlege, founder of Polytope Labs, highlighted the security features of Hyperbridge and ensures they offer unmatched security while developers confidently build the next generation of decentralized apps.

As the blockchain space continues to see surge and the demand for crosschain communique grows, Hyperbridge, with its newly launched mainnet, is ready to help achieve a truly combined blockchain ecosystem where assets and data can move freely and safely.

[Learn more about Hyperbridge](https://hyperbridge.network/)

Disclaimer: This article is for informational purposes only and should not be considered as investment advice. We recommend you do your own research before making any decisions related to the company.