Synapse is a universal interoperability protocol that provides secure cross-chain communication.
Introducing Synapse – Universal Interoperability Protocol
Synapse is aiming to connect blockchains by offering an extensible cross-chain messaging protocol that supports assets and smart contract calls. By leveraging Synapse, blockchains can easily and securely interoperate with each other and developers are able to build truly cross-chain applications including cross-chain DEX, lending platforms, margining systems, derivatives markets, yield aggregators, and much more.
The Synapse Protocol is comprised of a messaging framework and an economically secure method to reach consensus on the validity of cross-chain transactions. Synapse provides an extensible set of smart contracts that can be deployed on any blockchain which developers can leverage to build truly native cross-chain applications. Synapse offers interoperability support between every blockchain implementation, be it monolithic base layers, roll-ups, or application-specific chains.
The first application built using the protocol (Synapse bridge) enables users to swap assets across the most widely used EVM and non-EVM compatible blockchains. Synapse currently supports the deepest set of cross-chain liquidity out of any of the other interoperability solutions.
Here are three three main components of Synapse:
- Generalized Cross-chain Communication
- Optimistic Security Model
- Synapse Bridge
When it comes to cross-chain applications, security is critical. Building interoperability infrastructure that scales upsets the traditional bridging trilemma. For these reasons, Synapsе puts security at the core of the protocol’s design decisions. Cross-chain transactions are validated by an optimistic verification system in which off-chain actors coordinate to identify malicious transactions and submit a fraud proof during a specified latency window when a faulty transaction is discovered. The risks of cross-chain protocols have been documented thoroughly, evident by the number of high-profile bridge hacks, but the future is necessarily cross-chain, and an obsession over security is the path to building such.
User experience is very important for Synapsе because that is how the company further the multi-chain future. The company’s focus on user-experience is evident by the Synapsе Bridge, which has quickly become the most widely-used generalized cross-chain token bridge. Early on, Synapsе built a number of key features that made it safer and easier for users to swap assets across chains. User experience doesn’t stop at users of the Synapsе Bridge, it also extends to the developers wanting to leverage Synapsе Protocol to build new cross-chain experiences.
The current state of blockchain interoperability is splintered and complex to use given the multitude of new blockchains that host their own state. If we’re going to usher in a multi-chain future, interacting with this state must become seamless.
Synapsе is designed with the intent to eliminate today’s interoperability roadblocks and to make composability a first class citizen in cross-chain application development. Composability is what enables a vibrant application layer as it makes it much easier for new decentralized applications to spawn.
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