A team of Nigerian engineers raised 5.6 millions of dollars in seed funding to develop Hyperbridge He is a blockchain bridge designed to make the transfer of digital assets between much more secure networks.

Hyperbridge, created by Polytope Labs in Ikoyi, Lagos, aims to correct a critical vulnerability in the blockchain sector. During For years, the transfer of digital assets such as cryptocurrencies and NFT between different blockchain networks was a risky bet. The cycle of funding was led by the Polkadot Ecosystem Fund, showing a strong global confidence in Lagos-based innovation and the potential of Africa-led technology in the blockchain space, according to a note of information.

Unlike traditional bridges, Hyperbridge uses a decentralized and cryptographically based verification system secure.

The briefing note states that “the impact of Hyperbridge is already being felt globally. The bridge has been designated an official Polkadot infrastructure, one of main blockchain networks, as part of the “DeFi Singularity” initiative ” by Polkadot, which aims to allow a smooth circulation of its native token, DOT, between different blockchain ecosystems.” Hyperbridge will serve as core technology for these cross-chain operations