Amazing news from Kinetex!
The team is finally ready to reveal integration with Hashi, a Hash Oracle Aggregator aimed at systematically enhancing the security of cross-chain bridges.
By aggregating messages and block headers from various sources and employing a rigorous validation process, Hashi ensures that cross-chain interactions are both reliable and secure, fostering a more interconnected and functional blockchain ecosystem.
At the core, Hashi wants to avoid vendor lock-in and abstract out the underlying bridges to improve security and reduce system risks for the cross-chain space. Hashi's primary insight is that most bridge-related security incidents could have had minimal impact if the systems relying on them had built in some redundancy. In other words, requiring messages to be validated by multiple independent mechanisms rather than just one is much more secure.
Such an approach to security inspired the Kinetex team to integrate with Hashi. The team will work with SuccinctLabs to develop light clients, which will then be integrated as adapters into Hashi. The first light clients planned to release shortly will work on Bitcoin, unlocking a new era for the development of the DeFi industry.
Hashi adapters for cross-chain message protocols can also be helpful for light clients of those networks where the security code is not applicable, such as L2 networks. In this case, Kinetex will transmit and validate the network block hash through several cross-chain message protocols in the form of Hashi adapters.
"Hashi is not just another promising decentralized project; it creates a new standard in the DeFi space. For Kinetex, this collaboration is strategically vital because the validation of our protocol relies on light clients. We are actively developing Zk light clients on the SuccinctLabs platform, and the joint integrations with Hashi will help us expand to more networks while ensuring the security of our light client solutions." — Kinetex co-founder Tigran Bolshoi shed some light regarding the significance of working with Hashi.
The Kinetex team has been working tirelessly to make DeFi more accessible to a larger audience by developing various cross-chain solutions that are both user-friendly and effective. As a result of their efforts, the Kinetex dApp was created, which offers two approaches to swapping cryptocurrencies: Kinetex Aggregation and Flash Trade.
While the first approach serves as a gateway to liquidity aggregated from hundreds of sources, the second is a new generation of the Kinetex dApp — a fully decentralized P2P platform based on zero-knowledge proofs, where users and market makers work directly, without third parties, enjoying the best prices on the market.
In this mode, Kinetex approaches light clients in two ways: Zk light clients and Hashi adapters. Zk light clients address security concerns associated with third-party validators by utilizing Zk proofs instead. At the same time, with Hashi's help, Kinetex expands the coverage of networks with Hashi's security-enhancing redundancy approach.