Sygma x LayerEdge: Building an MPC bridge for Bitcoin
Sygma is teaming up with LayerEdge to create the first hybrid trust minimized multi-party computation (MPC) based bridge for Bitcoin. The bridge will allow users to transfer their BTC and inscriptions directly between Bitcoin and LayerEdge.
The first trust-minimized Bitcoin bridge
To prevent a single entity from controlling the critical signing key, the bridge uses a federated MPC approach for validating bridging requests. The key is created collectively through a secure ceremony by multiple relayer agents, so it never gets fully assembled in one place, avoiding vulnerabilities and single points of failure.
Instead of relying on traditional methods, like multi-sigs, relayers participate in the MPC ceremony for each bridging event. This method allows distributed computation on secret inputs without revealing outputs, providing a secure foundation for cross-chain transactions and data transfers.
The current relayers include ChainSafe, Bware, Phala, Blockops, Sygma, & LayerEdge Foundation.
LayerEdge
LayerEdge uses Bitcoin's built-in security to support BTCFi for native assets and inscriptions, creating a utility-driven ecosystem. As an Optimistic Rollup on Bitcoin, LayerEdge improves functionality with its unique Hybrid Modular Data Availability (DA) layer, ensuring data is verified and validated directly on Bitcoin. This Hybrid Modular DA also allows other Bitcoin Layer 2 solutions to use Bitcoin for data verification and validation while storing data on any existing DA layer. This method strengthens data integrity and offers flexibility for different data storage needs.
Sygma
Sygma is a cross-consensus interoperability protocol, enabling general message passing, asset transfers, non-fungible tokens, and decentralized finance. Sygma’s initial framework, Chainbridge, was also the chosen bridge behind the launch of Avalanche’s official Avalanche-Ethereum bridge. With a focus on increasing interoperability, Sygma aims to enable users to leverage the unique benefits of multiple networks.
Our collaboration with LayerEdge marks a significant step forward in Sygma’s mission of enhancing interoperability by improving the security and efficiency of cross-chain transactions within the Bitcoin ecosystem.
Build with Sygma
Visit us at buildwithsygma.com 🛠️
Next-generation composability and interoperability will provide applications with the features they need. Whatever solution projects have in mind, Sygma gives you the power to deploy multi-chain infrastructure quickly, lowering the entry barrier for developers and users.
Check out our documentation or GitHub to get started.
Have a question? Hop into our Discord 👋