The post KRNL Labs and Sig Network Unveil Next-Gen Cryptographic Bridge for Cross-Chain Transactions appeared on BitcoinEthereumNews.com.

Press Releases are sponsored content and not a part of Finbold’s editorial content. For a full disclaimer, please . Crypto assets/products can be highly risky. Never invest unless you’re prepared to lose all the money you invest. London, United Kingdom, February 11th, 2025, Chainwire KRNL’s developer tooling matched with Sig Network’s MPC account abstraction allows for new infrastructure that eliminates delays, reduces fees, and expands interoperability among chains. Today, KRNL Labs and Sig Network announced a new cryptographically secured cross-chain bridge to enable seamless multi-chain interactions. The infrastructure built by KRNL Labs and Sig Network allows digital assets to move between blockchains instantly while reducing fees and removing confirmation delays seen in existing bridging solutions. The bridge leverages Sig Networks Multi-Party Computation (MPC) technology to create flexibility for developers and convenience for users by creating a single deposit on the origin chain and a single withdrawal on the destination chain.  “The result of this exciting development between Sig Network and KRNL enhances cross-chain interactions by providing a cryptographically secure bridge that eliminates confirmation times and reduces fees, enabling truly seamless blockchain interoperability. There are millions of people who can begin using this technology immediately to improve their blockchain interactions,” said Tahir Mahmood, co-founder of KRNL.  The cryptographic bridge built by KRNL and Sig Network maintains security through distributed key management, unlike existing bridging technologies, which rely on third-party consensus mechanisms or messaging networks. No smart contracts are needed on the destination chain, as Sig accounts are used as “liquidity pools”. The only smart contract involved is the Near Protocol contract. “Sig Network is aiming to erase the barriers that exist between all Blockchains today and our work with the KRNL team is a big step in that direction,” said David Millar-Durrant, CEO of Sig Network. “KRNL’s research into extending what…

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Filed under: News - @ February 11, 2025 6:22 pm