Investing.com – Blockchain company Hyperbridge has secured $2.5 million in seed funding in a round led by the Web3 Foundation and Scytale Digital.
The funds are set to back Hyperbridge’s use of Polkadot’s architecture to support decentralized applications and improve scalability within the Web3 ecosystem.
With its cross-chain tech, Hyperbridge is used by projects like Succinct, Axelar, Union, and Avail. Recently, the protocol secured a parachain slot on and raised an extra $2.7M through a crowd loan, which turned out to be the most successful one on the network.
Moreover, Hyperbridge is developing cross-chain interoperability using a hub model to scale verifiable interoperability across multiple blockchains. It integrates zero-knowledge technology and mechanistic protocols to offer secure cross-chain messaging and storage query solutions.
“Hyperbridge represents a significant step towards a cross-chain…
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