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Cryptoknowmics 2022-04-30 15:30:12

Synapse Network: Connecting Multiple Chains Together

Synapse is a cross-chain liquidity network that works across all blockchains. It is a cross-chain communication protocol that enables assets, smart contract calls, etc. Blockchains can securely interact with one another thanks to Synapse, and developers can create real cross-chain applications like cross-chain DEXs, lending platforms, margin systems, derivatives markets, yield aggregators, and more. The Synapse Bridge, which leverages AMMs deployed across 15+ EVM and non-EVM blockchains to allow users effortlessly move assets between all chains, is the first application built using this cross-chain protocol. Users can now utilize Synapse to transfer assets between the most popular EVM compatible blockchains. Out of all the interoperability options, Synapse presently provides the deepest liquidity. How does Synapse Work? Cross-chain multi-party computation (MPC) validators protect the Synapse network by using threshold signature techniques (TSS). The network has no leaders, and each validator maintains security by running the exact process when receiving on-chain events on the many chains that the MPC validator group monitors. The network reaches consensus and issues a transaction to the target chain once two-thirds of all validators have collectively signed the same transaction using their key. They also receive SYN as a rebate for gas expenses on the Ethereum network, which can be a costly part of running a validator otherwis...

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