Sigma-Bridge Officially Launch | An Invitation to Co-create a New Chapter in Cross-Chain Interaction
Sigma is proud to present the Sigma-Bridge, a cross-chain bridge that further expands the interoperability between the IOST — Ethereum — BSC networks, empowering the cross-chain development of assets and information. This milestone marks a pivotal step in Sigma’s collaborative journey with IOST as we strategically establish a multi-chain ecosystem.
Embracing the interconnection of numerous chains, Sigma envisions extending Sigma-Bridge to Layer2, Optimism, Arbitrum, zkSync, and other high-performance mainstream public chains, supporting a diverse range of tokens. Through continued development, Sigma aims to enhance the scalability, security, and interoperability of the IOST blockchain. By empowering the growth of DeFi, GameFi, SocialFi, NFTs, AI, and the metaverse, Sigma aspires to create a more intelligent, diversified, high-performance, and secure Web3.0 experience for users.
Cross-Chain Bridges — Empowering Sustainable Innovation and Development of Public Chains
In the global cryptocurrency industry, a multitude of public chains compete for dominance, each with its unique strengths and loyal user base. According to Sigma’s comprehensive market research, there are currently thousands of public chains worldwide, featuring a variety of performance and ecosystem characteristics.
As blockchain technology evolves, the on-chain ecosystems of major public chains exhibit a trend towards diversification. However, the rapid expansion of DeFi, GameFi, NFTs, and other projects has exposed limitations such as inadequate underlying performance, high transaction fees, and limited interaction. Additionally, diverse public chains employ different communication protocols, consensus rules, and governance models, resulting in isolated islands that hinder seamless and efficient communication.
The coexistence of multiple chains has become the prevailing trend in the global crypto market. As the number of public chains and Layer 2 projects continues to grow, user demand for cross-chain asset transfer has surged. Consequently, breaking down the barriers to interchain communication has become a critical requirement for enabling sustainable innovation and development of public chains.
Sigma-Bridge — Bridging the Present and Shaping the Future
Sigma has been committed to fostering interconnectivity in the blockchain world and driving the practical implementation of cutting-edge technologies, products, and services. Our mission is to create and implement infrastructure that enables high-quality applications and widespread user participation.
In April 2022, Sigma took the lead in developing IOSTSwap, a decentralized cross-chain protocol that facilitates asset interoperability between IOST and Ethereum. IOSTSwap serves as a bridge, unlocking new liquidity channels and user pools for DApps on IOST. Users can seamlessly transfer tokens between the two chains, allowing IOST users to participate in renowned Ethereum ecosystem projects using IOST native tokens.
IOSTSWAP Cross-Chain Protocol Goes Live!
To meet the collaborative operational needs of users across various public chains and adapt to the era of multi-chain coexistence, Sigma leverages IOST’s robust underlying infrastructure and active on-chain ecosystem. Today, Sigma proudly presents the upgraded version of IOSTSwap — Sigma-Bridge, a cross-chain bridge that enables bidirectional asset conversion not only between IOST and Ethereum but also between other ecosystems such as BSC.
The Sigma-Bridge by Sigma is a powerful tool for fast asset trading and contract invocation between major compatible networks. Its primary objective is to facilitate seamless asset transfer between different ecosystems, providing users with enhanced liquidity options and participation in a wider range of projects within the Ethereum and BSC ecosystems.
Two Fundamental Modules
To offer IOST and other chain users a convenient and swift one-stop cross-chain service and to empower exceptional protocol developers in achieving flawless multi-chain deployment, Sigma-Bridge encompasses two core modules:
Firstly, based on IOST’s comprehensive multi-chain ecosystem expansion plan, Sigma introduces Sigma-Bridge, a cross-chain bridge connecting IOST with the Ethereum and BSC networks. Sigma-Bridge facilitates asset interoperability between IOST and Ethereum, BSC, unlocking new liquidity channels and user pools for DApps on IOST. Users can seamlessly transfer tokens between IOST and Ethereum, IOST and BSC, while IOST users gain access to prominent projects within the Ethereum and BSC ecosystems using IOST native tokens.
Secondly, Sigma introduces Sigma-Bridge Farm, a product that offers users substantial LP rewards and Staking returns. The launch of Sigma-Bridge Farm marks a significant milestone in Sigma’s continuous empowerment, as IOST’s multi-chain ecosystem progresses to the stage of application development, user acquisition, and cross-chain liquidity interaction.
The Three Core Advantages of Sigma-Bridge
After multiple iterations of logical architecture and integration adjustments, Sigma-Bridge incorporates the following three core advantages:
- Notary Mechanism: Third-party verification of asset transfer The notary mechanism involves impartial third parties serving as intermediaries between two chains, assisting in transaction verification.
- Hash Lock: Cryptographically secure asset transfer Hash lock, although it may sound intricate, is simply an additional cryptographic layer applied in cross-chain scenarios. It utilizes a hashed verification mechanism to facilitate cross-chain information exchange.
- Distributed Private Key Control: Decentralized private key management Distributed private key control employs smart contracts to project assets from the original chain to different chains while generating a set of private keys that govern these assets.
Future Plans for Sigma-Bridge
Sigma-Bridge, as a tool bridging chains, aims to facilitate seamless asset and information transfer between chains, promoting communication and compatibility across multi-chain ecosystems.
In line with this vision, Sigma will continue to drive the development of the Sigma-Bridge ecosystem and introduce a series of products and services:
- Sigma will progressively expand Sigma-Bridge to Layer2, Optimism, Arbitrum, zkSync, and other high-performance mainstream public chains, supporting various token types.
- Sigma will support the development of cross-chain bridges for multiple ecosystems, providing bridge services between EVM networks and non-EVM chains.
- Sigma will establish a decentralized exchange that supports both cross-chain transactions and asset exchanges.
Furthermore, Sigma will collaborate with IOST to optimize Sigma-Bridge’s security, transaction speed, and capital efficiency:
- Reducing gas fees and accelerating transaction speed.
- Facilitating seamless asset interaction for users, delivering an exceptional user experience.
- Enhancing the productivity and utility of existing crypto assets.
- Strengthening security and privacy.
“In an era of multi-chain parallelism, IOST, built on creativity, community, and inclusiveness, requires a core element based on interoperability. The cross-chain bridge is the key to realizing Sigma’s vision of a multi-chain future for IOST. For cross-chain bridge builders, this is an era characterized by decentralization and fierce competition. In light of this, the team’s primary considerations should be security, followed by the introduction of products and services to the market. An excellent cross-chain bridge must be secure, interconnected, fast, cost-effective, efficient, and resistant to censorship. These principles guide our ongoing endeavors.”
— Sigma representatives
Co-creating a New Chapter of Cross-Chain Interaction
The coexistence of multiple chains has become the prevailing trend of our time. Cross-chain interaction and ecosystem interconnection are the paths toward sustainable innovation and development of major public chains. Sigma-Bridge effectively addresses the limitations of underlying public chain performance, ensuring stability and security in the exchange of assets and information across chains.
In the future, Sigma, in collaboration with IOST, will work together with global communities and outstanding strategic partners to steadfastly advance the realization of trustless and decentralized interoperability. Sigma-Bridge will progressively expand to Layer2, Optimism, Arbitrum, zkSync, and other high-performance mainstream public chains, establishing a reliable, convenient, efficient, and secure “blockchain network interaction bridge.” Together, we will co-create a new chapter of cross-chain interaction.
About IOST
IOST — The Web3 Blockchain Operating System
Founded in 2017 and headquartered in Singapore, IOST is an enterprise-level blockchain application platform backed by prominent global USD investment institutions like Sequoia, Matrix Partners, and ZhenFund. It is designed to serve online service providers.
Expanding the Web3 Ecosystem
Amidst the ongoing digital revolution driven by Web3, IOST is committed to fostering innovative development within the blockchain ecosystem. The platform has made significant progress in various areas, including blockchain, consensus algorithms (PoB/PoI), decentralized identity authentication (DID), zero-knowledge proofs (SNARKs and ring signatures), relay-based protocols, DeFi, NFT, AI, XR, and more.
IOST2 — The Real Web3 blockchain operating system.
- IOST2 — The Merge: IOST will adopt the Beacon Chain + Smart Chain architecture for IOST2, ensuring compatibility with EVM and utilizing standard Engine API for communication between the two.
- IOST2 is continuously evolving and upgrading multiple subchains, encompassing general-purpose EVM-based smart contract chains and dedicated subchains such as NFT chains, gaming chains, AI Native chains, and others.
About Sigma
Sigma is a professional and accomplished cutting-edge blockchain development team established in 2018 and invested in by the IOST ecosystem fund.
The Sigma team comprises members from world-renowned universities, including Harvard University, the University of Chicago, and Tsinghua University, boasting solid expertise in cryptography, consensus, and distributed systems, along with extensive industry experience.
Sigma focuses on iterative research and development of core blockchain technologies, as well as the practical application and implementation of “Blockchain+” products and services. Currently, Sigma has developed multiple high-quality “Blockchain+” products for numerous strategic partners and renowned enterprises in over 20 countries worldwide.
- Sigma Official Twitter: https://twitter.com/Sigma_devs
- Sigma Official Email: sigma.privacy@gmail.com
- Website: sigmabridge.xyz