TL;DR:

• Hashi Launch: Hashi, an innovative Oracle Aggregator, is now operational, enhancing cross-chain interoperability and security.

• Security Focus: Addresses critical issues in blockchain bridge security, inspired by lessons from hacks and supported by Uniswap's bridge assessment.

• Live on Major Chains: Active on leading EVM blockchains and testnets with 15+ adapters.

• Invitation to Collaborate: Encouraging community engagement and feedback, with an open invitation for deeper collaboration.

Security Issues in Blockchain Bridges: The Urgent Call for a New Approach

In 2022 alone, Chainalysis reported that a staggering $2 billion in cryptocurrencies were stolen across various bridge hacks, accounting for 69% of all hacks that year. The underlying issues in bridge protocols have not only led to financial losses but have also shaken the foundational trust in blockchain technology​​​​.

Just to cite some of the most infamous ones:

• The Ronin Bridge hack in March 2022, where hackers employed social engineering tactics to compromise the private keys of validators, leading to a loss of over $600 million in ETH and USDC tokens.

• The Nomad Bridge hack, where over $190 million were lost due to a trusted root exploit.

• More recently, the Multichain hack saw the illicit transfer of about $126 million across chains like Fantom, Moonriver, and Dogecoin.

The recurring incidents of blockchain hacks can be attributed to two fundamental issues.

1. Firstly, there is an over-reliance on a single security mechanism. This singular trust approach underestimates the sophistication of potential threats.

2. Secondly, the competitive nature of bridges striving to control the entire stack leads to work duplication and a detrimental race to the bottom.

In contrast, DeFi protocols and Layer 1s (L1s) must strategize to mitigate bridge failures and circumvent vendor lock-in, highlighting the need for diversified and robust security measures.

These incidents, among others, have underscored the urgent need for a new approach to cross-chain communication and security. This is where Hashi comes into play.

Uniswap's Bridge Assessment: Paving the Way for Hashi's Multi-Bridge Solution

In light of escalating complexities and security concerns in cross-chain protocols, Uniswap's proactive stance is notable.

Their Bridge Assessment Report, originating from a proposal to deploy Uniswap v3 on BNB Chain in late 2022, underscores the intricate nature of bridge protocols in decentralized governance.

Faced with varied options like Celer, DeBridge, Wormhole, and LayerZero, the Uniswap community's deliberations revealed the technical and contentious landscape of cross-chain messaging. This led the Uniswap Foundation to establish a Cross-chain Bridge Assessment Committee. Aimed at aiding informed decision-making and streamlining the governance process, the committee evaluated six bridges, favouring a multi-bridge architecture for its potential to enhance cross-chain governance. However, this architecture was deemed nascent and immature for immediate implementation, necessitating further development.

This assessment reinforces Hashi's emergence as a promising multi-bridge and oracle aggregator, aligning with the identified need for robust, multi-faceted cross-chain solutions​.Born to address these rampant security issues, Hashi's vision is to provide a more secure, efficient, and reliable framework for cross-chain communication. By aggregating various oracles and bridges, Hashi introduces redundancy and security checks previously absent in the ecosystem.

Our Vision

Launched in March 2023, Hashi has emerged from a vision initially outlined in an Ethereum Research post to address the critical challenges in the cross-chain landscape.

Hashi was born to tackle the heterogeneous nature of bridge solutions and standardize cross-chain communication. Its design focuses on 'additive security' - enhancing the security of existing bridges by aggregating multiple security mechanisms, as opposed to trusting a single one. This approach ensures a more robust, fail-safe environment: additive security mitigates the risks associated with single points of failure, a common issue in existing bridge designs. By acting like a multi-sig of bridges, Hashi enhances the overall resilience of cross-chain transactions. Furthermore, the standardization at the block header level aims to facilitate interoperability and foster a more secure and collaborative blockchain environment.

Hashi presents a series of compelling advantages that align with its vision of secure and seamless cross-chain interactions:

• It frees applications from vendor lock-ins, allowing the choice and aggregation of security providers.

• It incentivizes protocols to maintain secure, consistent cross-chain data.

• Its governance will be shared among protocols and bridges, the most knowledgeable and suitable entities to preside over a shared security layer.

• Its support for multiple protocols and uniform interface catalyze efficient cross-chain applications.

• Importantly, the collective approach to security fosters a shared-cost structure, enhancing cost-effectiveness, while significantly reducing the risk of fund loss within blockchain communities.

In essence, Hashi represents not just a technological advancement but a paradigm shift in how blockchain security and interoperability are approached.

As we continue to develop and refine Hashi, our goal remains steadfast: to create a blockchain world where cross-chain transactions are as secure and reliable as they are seamless and efficient.

Hashi Goes Live: Powering Interconnectivity Across Major Blockchains

We are thrilled to announce that Hashi is now live, revolutionizing the cross-chain landscape!

Hashi is available on leading EVM blockchains, as well as on prominent testnets:

Mainnets

• Ethereum

• Gnosis

• Polygon

• BNB Smart Chain

• Optimism

• Arbitrum

• Avalanche

Testnets:

• Goerli

• Sepolia

• Optimism - Goerli

• BSC Testnet

Our platform boasts over 15+ adapters, integrating major cross-chain rails and pioneering technologies like zk light clients, including:

• AMB

• Axelar

• Celer

• Chainlink CCIP

• Connext

• Dendreth

• Hyperlane

• LayerZero

• Optimism

• Sygma

• Telepathy

• Wormhole

• pNetwork

• Electron

• Tellor

• Zetachain

and more are in the process of integration.

Some of these adapters were crafted by Hashi's core team, some by the underlying cross-chain rails, and some by independent contributors, symbolizing our collaborative spirit.

Hashi is not just a platform; it's a leap towards a more empowered and safer blockchain ecosystem.

Be Part of Hashi's Journey: Collaborate and Contribute Today

We invite you to explore Hashi’s capabilities and contribute to shaping a more interconnected blockchain ecosystem. For those eager to delve deeper or collaborate closely with us, we welcome you to join our Hashi Early Builders telegram group via this link. Your engagement and expertise are not just welcome—they're essential.

Together, let’s pioneer the future of cross-chain technology!