Hex Trust, a crypto custody provider, announced today that it has joined hashport for blockchain interoperability solutions as an auditor. Developed by Limechain and BCW Technologies, the hashport is designed to enable more interoperability across blockchain systems.
There are currently over 100 active public blockchains in the market, each with unique applications, security models, consensus mechanisms, and trade-offs in design.
The hashport aims to unite this increasingly fragmented landscape with a public infrastructure facility 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 added.
“The hashport brings the digital asset industry one step closer to a multi-chain market structure designed to unlock greater productivity and benefit across individual ecosystems, providing users with seamless access to an ever-growing range of decentralized protocols and applications. At Hex Trust, we are convinced that advocates for cross-chain connectivity As a way to extract the full potential of multiple blockchain protocols and create an integrated framework that can fine-tune, scale, and support an infinite number of use cases.”
– Alessio Quaglini, CEO and Co-founder of Hex Trust
Moreover, there are many different bridging projects that give users more options when it comes to transferring information between two or more blockchains. There are four main types of bridges including specific origins, chain related, private and generalized applications.
As a generalized bridge designed to transmit information across multiple blockchain systems, the hashport value to user vehicles with each integration through network effects, as each additional connection to a project gives access to the entire ecosystem within the bridge.
“The hash heralds a new era of interoperability, enabling users to explore an ever-expanding set of distributed networks, use cases, and opportunities that were previously elusive. By combining the power of Hedera’s Consensus Service and a global validator swarm from hashport, a level of no Unparalleled functional confidence.”
– Jesse Whiteside, Director of Business Development at hashport