[PRESS RELEASE – Zug, Switzerland, August 28th, 2023]
Supra, a leading blockchain organization that provides Oracle and Verifiable Random Function (VRF) services, today announced the creation of HyperNova, its new bridgeless technology that facilitates cross-chain communication directly via L1 consensus. This groundbreaking new methodology allows blockchains to connect interoperably without the need for a centralized bridge.
“HyperNova is a major breakthrough for the blockchain industry,” said Joshua Tobkin, CEO of Supra. “It eliminates the need for centralized bridges, which can be a single point of failure and a major vulnerability in Web3. HyperNova’s bridgeless technology makes blockchain connections more secure, reliable, and scalable via L1 to L1 cryptographic consensus.”
HyperNova bridgeless technology works by using Supra’s novel, low-latency, consensus algorithm, known as Moonshot Consensus, to understand the underlying cryptographic signatures of interacting chains. This allows Supra to provide a secure, reliable, and scalable cross-chain consensus that is strictly better than traditional bridge designs.
Benefits of Supra’s HyperNova Bridgeless Tech
Supra’s HyperNova offers a number of benefits over traditional centralized bridges, including:
- Increased security: HyperNova eliminates the need for a centralized bridge, which can be a single point of failure. Instead, Supra directly verifies that cryptographic signatures of the source and destination chains, which provides L1 to L1 security guarantees.
- Improved scalability: Bridgeless tech is more scalable than traditional centralized bridges. This is because Supra itself is a high-throughput IntraLayer that can handle many cross-chain consensus requests simultaneously.
- Enhanced capabilities: Supra’s HyperNova multi-chain solution enables novel cross-chain use cases that are not possible in bilateral (one-to-one) solutions.
Use Cases for Supra’s HyperNova
Bridgeless tech can be used for a variety of use cases, including:
- Cross-chain DeFi: HyperNova can be used to enable cross-chain DeFi, which allows users to transfer assets and interact with DeFi applications across different blockchains.
- Cross-chain gaming: Bridgeless tech can be used to enable cross-chain gaming, which allows players to transfer their in-game assets or NFTs across different blockchain-based games.
- Cross-chain oracles: HyperNova can be used to enable cross-chain oracles, which provide secure and reliable data feeds to DeFi applications across many ecosystems.
About Supra
Supra is building a low-latency interoperability infrastructure to provide Web3 capabilities that traditional blockchain designs lack. Supra, as a vertically integrated IntraLayer™, enables a shared security paradigm across a variety of oracle services. This includes securing external data on-chain, cross-chain consensus via their bridgeless HyperNova, automation, VRF, smart contract execution, and more.
After thousands of hours of R&D and simulations, Supra’s technical breakthroughs are solving the Oracle Dilemma and optimizing network performance across the board in terms of security, throughput, time to finality, composability, and programmability. Supra has taken an academic approach to development, which has been an integral part of the organization’s commitment to advancing Web3 performance and security. This is characterized by a commitment to deep research, transparency, and going through a rigorous peer-review process in every design and product released.
Dr. Aniket Kate, inventor of KZG Commitments utilized in Ethereum L2 Data Availability solutions, and the Supra team are diligently composing new whitepapers, so there are still many novel solutions in the pipeline soon to be publicized. To learn more about Supra and participate in their gamified learn-to-earn program, visit Countdown to Blastoff. Lastly, sign up for the whitelist for an opportunity to be notified in advance of any possible future token offerings and for more alpha.
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