cryptoninjas.net
Hex Trust, a cryptocurrency custody provider, announced today it has joined blockchain interoperability solution hashport as a validator. Developed by Limechain and BCW Technologies, hashport is designed to enable greater interoperability across blockchain systems.
Currently, there are over 100 active public blockchains in the market, each with unique apps, security models, consensus mechanisms, and design trade-offs.
hashport aims to unify this increasingly fragmented landscape with a public infrastructure utility that strikes the right balance between security, speed, cost, and ease of use. Initial integrations will focus on Hedera Hashgraph, Ethereum, and Polygon, with additional protocols to be added.
“hashport brings the digital assets industry one step closer to a multi-chain market structure designed to unlock greater productivity and utility across individual ecosystems, providing users with seamless access to the ever-increasing range of protocols and decentralized applications. At Hex Trust, we are convinced advocates of cross-chain connectivity as a way to extract the full potential of multiple blockchain protocols and create an integrated framework that can adjust, upgrade and support an infinite number of use cases.”
– Alessio Quaglini, CEO & Co-Founder of Hex Trust
Moreover, there are many different bridge projects that give users more choice when it comes to transferring information between two or more blockchains. There are four main types of bridges including asset-specific, chain-specific, app-specific, and generalized.
As a generalized bridge designed for transferring information across multiple blockchain systems, hashport’s value to the user compounds with every integration through network effects, as each additional connection to a project gives access to the entire ecosystem within the bridge.
“hashport ushers in a new era of interoperability, empowering users to explore an ever-expanding array of distributed networks, use cases, and opportunities that were previously out of reach. By combining the power of Hedera’s Consensus Service with hashport’s world-class validator swarm, an unrivaled level of functional trust is created.”
– Jesse Whiteside, Director of Business Development at hashport