ChainPort provides a secure cross-chain bridge that enables users to transfer tokens across multiple blockchains with a focus on fund segregation and multi-signature cold storage. By utilizing advanced cryptographic techniques, ChainPort addresses the challenges of interoperability and security in blockchain transactions, ensuring rapid and safe asset transfers.
Funding
$5.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Cross-chain token transfers often involve complex processes and security risks, hindering seamless interoperability between different blockchain networks. Users need a secure and efficient way to move assets across chains without reverting to the original token.
Solution
ChainPort provides a cross-chain bridge that enables users to port tokens across multiple blockchains. It uses advanced security technology and a fund segregation model, storing up to 98% of funds in multi-signature cold storage secured by Gnosis Safe and Fireblocks MPC encryption. ChainPort supports wrapped asset bridging, private bridges managed by token issuers, external cross-chain protocols, native token bridging, hybrid bridging, and liquidity bridging. The platform aims to provide full interoperability, permissionless porting, and fast transfer speeds with a user-friendly interface.
Target Audience
ChainPort targets Web3 projects and users seeking a secure and efficient solution for cross-chain token transfers, including those involved in DeFi, NFTs, and other blockchain applications.
Features
- Multi-signature cold wallet protection using Gnosis Safe and Fireblocks MPC encryption
- Support for wrapped asset bridging, native token bridging, and hybrid bridging methods
- Integration with external cross-chain protocols for permissionless burning and minting of native tokens
- Fund segregation model to enhance security
- Real-time monitoring and approval of transactions by multiple members of ChainPort's Congress
- Audited smart contracts by experienced auditing firms
- Active multi-party computation (MPC) with hardware isolation for multi-layer security
- AI/ML-based pattern recognition for enhanced breach attempt detection
- Support for 28+ integrated chains
- Average porting time of 2.5 minutes
- Embeddable integration for various applications
- On-chain API for direct smart contract calls