Bluehelix joins Polygon Ecosystem as an MPC- based Cross-chain Bridge Solution Provider

Today, Bluehelix Bridge, the MPC-based decentralized cross-chain bridge, announced that it has successfully obtained Polygon Grants and has reached in-depth cooperation. The Bluehelix Bridge will bring Polygon to BTC, ETH, BSC, HECO, Cosmos, etc. Implementation of multi-chain asset circulation and information compatibility, operating as a driving force in the DeFi ecosystem. In the era of interconnection, they jointly provide power for the DeFi application ecosystem.

The Bluehelix Bridge, decentralized cross-chain bridge is at the forefront of technological progress. It is the largest decentralized MPC-based cross-chain bridge in the world with the most supported public chains. It can support any heterogeneous chain or homogeneous chain ecosystem. The cross-chain and asset circulation can be fully compatible with various cross-chain technologies and standards, enabling the interoperability of blockchain applications across different chains.

The Bluehelix Bridge functions similarly to a blockchain ecosystem transportation network, allowing project partners, public chains, wallets, and other entities to cross-chain assets and create decentralized circulation between various ecosystems.

Polygon was created to ease Ethereum’s congestion. It is dedicated to increasing Ethereum’s throughput while also addressing scalability and usability issues. The transaction cost is nearly zero, providing a good operating experience for DApp users and significantly decreasing developer deployment of scalable intelligence. Contract fees are waived, allowing Ethereum developers such as DeFi, NFT, Gamefi, and DEX to deploy Ethereum with no learning costs. Polygon is built on the Ethereum network and facilitates sharing of the Ethereum network’s security and network benefits.

Polygon has risen rapidly. The number of DAPPs in the Polygon ecosystem has now surpassed 500, the number of infrastructure and development tools has surpassed 100, and there are hundreds of games, NFTs, and other applications. Including mortgage lending agreements AAVE, synthetic asset agreement, Oropocket, decentralized transaction agreement QuickSwap, etc.

Escorting asset safety

The security of cross-chain bridges is the first consideration for asset cross-chain. Due to the frequency of recent hacking incidents, three cross-chain bridge attacks on Chainswap, Anyswap, and Poly Network occurred in only 7–8 months, resulting in total losses. More than 628 million US dollars were lost, affecting dozens of well-known projects.‌

There were two main attacks in response to the aforementioned attacks. One type of attack is caused by the leakage of the private key used for cross-chain signatures or by logic flaws in the signature program. The second type of attack is caused by flaws in the smart contract and the agreement itself. Bluehelix Bridge cross-chain bridge’s innovative technology can perfectly solve the two attack problems.

Firstly, the Bluehelix Bridge does not require the deployment of smart contracts on the chain. Compared with most cross-chain bridges on the market that deploy smart contracts on the chain, the Bluehelix Bridge cross-chain bridge adopts the MPC cross-chain scheme. Any cross-chain asset of the user has an independent cross-chain custody address, and an asset deposit and withdrawal verification logic. The security is basically the same as that of centralized exchanges. At the same time, Bluehelix Bridge does not issue any new assets, and there is no exchange process between assets, which can ensure the safety of user assets and avoid attacks.

‌Secondly, the Bluehelix Bridge multi-node verification, and is escorted by Peckshield and SlowMist. In response to attacks that steal users’ private keys and signatures. The cross-chain bridge is based on distributed key technology and manages private keys through the joint collaboration and consensus of verification nodes. The cross-chain of any asset requires at least 2/3 of the signature of the custodial node and the confirmation of all nodes participating in the consensus to achieve a complete signature. These nodes are all operated by third-party authorities such as Peckshield, SlowMist and other well-known security companies and large companies in the industry. At the same time, during the entire private key generation and signature process of the Bluehelix Bridge, the parameters used each time are randomly generated by the node, and the Bluehelix cross-chain custodian node supports rotation.

Make Multi-Chain interconnection a Reality

At present, most of the infrastructure of Polygon ecology is the native protocol of Ethereum, and the native applications based on Polygon are relatively few. Through cooperation, it can help developers and users of Polygon such as DeFi, NFT, games, and DEX to open up all public chains supported by Bluehelix Bridge such as BTC, ETH, HECO, BSC, DOGE, TRON, etc., and realize all public chain interoperability and the free exchange of assets, creating an era of multichain interconnection.

First of all, the Bluehelix Bridge supports any cross-chain native assets and supports any form of cross-chain. The Bluehelix Bridge is currently the only decentralized MPC-based cross-chain bridge that can support the most public chains on the market. It can support unlimited cross-chain of any asset, helping any public chain, project, or wallet to carry out the decentralized circulation of cross-chain native assets. At the same time, Bluehelix Bridge is the only cross-chain bridge that does not limit deposit methods. It can support CEX assets directly cross-chain, and can directly bring centralized exchange assets into the existing public chain ecology.

Secondly, the Bluehelix Bridge is completely decentralized with the lowest cross-chain cost in the entire network. The Bluehelix Bridge is based on Bluehelix’s patented private key sharding technology in Europe and the United States. The collaboration of the two parties will boost the growth of blockchain decentralized finance. The Bluehelix Bridge, a decentralized cross-chain bridge will assist all public chains, project parties, wallets, and other entities all over the world in gradually opening up the circulation network of decentralized finance on various public chain networks and establishing a multi-chain interconnection. The Bluehelix Bridge is more decentralized than RenVM, a cross-chain approach that uses comparable technologies, and the generation and management of addresses and private keys uses a distributed multi-signature technique. On Bluehelix, users can generate any public chain cross-chain deposit address, and they can deposit to the custodial address from anywhere. Cross-chain process transactions and fund details of the company are completely transparent on the chain, ensuring the safety of user assets and there will be no centralized process. Unlike other cross-chain bridges, the Bluehelix cross-chain bridge does not charge any additional fees for asset cross-chains and only charges the corresponding withdrawal fee for the target public chain or the gas fee for the source chain.

Email: bhexchain@bluehelix.com

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