At LimeChain, we’re thrilled to announce the launch of Hashport, a decentralized bridge that aims to become a vital part of the entire DLT ecosystem. Hashport is the latest product that comes as a result of our long-standing collaboration with one of the most prominent players in the DLT space, Hedera Hashgraph. As a trusted technology partner of Hedera, LimeChain has been the driving force behind Hashport’s development and will continue to support the project post-launch. In that respect, we’re also extremely proud to announce that we’ll be a part of a group of seven validators, that will be tasked with ensuring security for Hashport users.
What is Hashport?
Distributed ledger protocols have already showcased their immense potential by powering a range of innovative products and services, such as DeFi and NFTs. However, one of the biggest problems DLT is currently facing is the lack of interoperability between the different protocols on the market. In other words, while two decentralized apps running on the same DLT network can easily interact with one another, the same cannot be said about dApps that exist on separate networks.
Bridges are designed to help solve that problem by connecting separate DLT networks and allowing them to ‘talk’ to each other. With the help of a bridge, for example, you can transfer crypto assets from their native network to another and use those assets in dApps running on the target network.
With Hashport, we seek to set a new standard for DLT bridge technology across the industry. The bridge is the first solution designed to connect Hedera Hashgraph with EVM-based networks. The combination of Hedera’s powerful technology and LimeChain’s world-class dev team has led to the creation of a product that strikes a fine balance between speed, security, cost-effectiveness, and ease of use.
As a blockchain developer with over 120 smart contracts currently live, LimeChain thrives on being at the forefront of innovation. In that sense, Hashport is the embodiment of everything that we love about blockchain development – the opportunity to work on ambitious and unique projects set to benefit the DLT ecosystem at large is the reason why LimeChain exists in the first place.
This is also why we’re excited about the prospects our continuing cooperation with Hedera brings. As part of that collaboration, we’re fully committed to continue to help the Hedera team in their efforts to propel the industry forward.