HyperBridge
HyperBridge is a decentralized cross-chain bridge completely independently developed by HyperGraph developers.
In the past two years, the blockchain has greatly entered the stage of application booming. Concepts such as DeFi, NFT, GameFi, MetaVerse, Web3.0 have entered reality, and applications have been generated, which truly carry considerable funds and value, and become a booming industry power. But this also makes the current performance problems of the blockchain more prominent, and Ethereum has become overwhelmed. But at the same time, Ethereum has become the de facto standard and has the largest developer and user group. Therefore, various sidechains and expansion technologies of Ethereum have also sprung up, from BSC to Heco, from Polygon to OKExchain, etc. Leading the way, have formed a certain degree of influence.
The endless emergence of public chains and technical solutions have also brought about certain problems, that is, each public chain is an island of data and assets, and it is in its own right. Some projects provide services on multiple public chains, but Token cannot facilitate intercommunication. For example, USDT is also issued independently on each public chain, and the ETH issued by mapping is more independently controlled by each public chain or exchange.
There are currently two ways of intercommunication. One is to use a centralized exchange to support multiple chains with one coin. The exchange receives the assets of each chain, manages them in a unified manner, and then provides asset extraction from the target chain according to user needs. The disadvantages of this method are obvious. First, the exchange must first support the corresponding public chain, second, the asset must be listed on the exchange, and the third exchange must register an account and even KYC. These are relatively time-consuming and labor-intensive.
The second way is to use a cross-chain bridge. The current existing cross-chain bridges also have the following problems: 1. It is troublesome to put assets on the shelves, 2. The cross-chain speed is slow, at least a few minutes or even longer. 3. Less support for public chains.
Based on the team's accumulation of blockchain data analysis, storage and networking, HyperGraph launched the HyperBridge cross-chain bridge.
HyperBridge did the following:
Already support HECO, BSC, OKExChain, HSC, Polygon, and ETH will be supported soon.
Projects can maintain assets on the shelves by themselves, and the assets of cross-chain projects only need to provide on-chain handling fees on the cross-chain, and there will be no local currency handling fees, ensuring a good user experience
The cross-chain asset liquidity incentive mechanism is adopted to support mainstream cross-chain, 80% of the handling fee is allocated to the liquidity provider, and 20% is used for the platform to repurchase and destroy HGT
Mainstream assets can be used to purchase gas on the target chain, and cross-chain assets can be realized in a one-stop manner, and mining can be quickly started on the target chain
The current cross-chain speed is 30-60S before, and the cross-chain speed can be far better than any current cross-chain means
The entire cross-chain operation is the same as on-chain transfer, coin deposit, and mining operations, one operation, easy to complete
Both the source chain and the target chain are controlled and managed through smart contracts, which can be traced back on the chain. The cross-chain gateway reuses the HyperGraph node network, is completely decentralized, and all technologies are independently developed
Last modified 2yr ago