The official third-party bridge of the Shibarium network, Hoichi, has been labeled as one of the fastest-growing projects in the ecosystem. On the podcast hosted by the Shiba Inu lead developer Shytoshi Kusama, Hoichi co-founders Stan and Samantha appeared to discuss recent developments and the role of its latest initiative, the Torii Gateway platform.
What is the Torii Gateway Platform
According to Stan, the Torii Gateway platform was specifically designed to operate as a utility. The original idea was to connect to multiple blockchain projects or create a network of pathways just as how different countries are connected by roads. While this design improves interaction across platforms, it also ensures that users seamlessly transfer assets between blockchains with flexibility.
Speaking on the Shy Speaks Podcast, Stan disclosed that this initiative supports more than 1,500 tokens across over 60 networks. Meanwhile, this could be increased in the future as the team currently plans to expand the bridge even wider. When this happens, users will be able to access different blockchains on the Shibarium network.
Adding to this, Kusama lauded the progress of the Torii Gateway Platform, especially its low transaction fees and the enhancement of inclusivity.
The discussion did not end there. The Hoichi co-founders also touched on one of the Torii Gateway’s technologies, dubbed Fusion DCRM technology. Coupled with its role of protecting users including developers and the platform, it was said to also provide massive security to the bridging protocol.
According to Stan, the technology leverages different high-profile tools, including group-based and multi-signature protocols, to deliver. To appreciate this even more, he disclosed that unauthorized parties with access to a part of the encryption key cannot access liquidity. Additionally, the impact of low liquidity has also been addressed by the initiative since they are drawn from multiple chains.
What to Expect From Shibarium’s Hoichi
Joining the discussion, Samantha disclosed that Hoichi is currently designed to support only Ethereum Virtual Machine (EVM) compatible networks. In the future, this could be expanded to the likes of Tron and Solana. Fascinatingly, a similar initiative was proposed last year to bridge Shibarium with Ethereum and Arbitrum.
Apart from this, works could soon commence to integrate fiat on- and off-ramps. This is to increase participation and community reward as the project continues to grow. The co-founders further hinted that a staking platform could be unveiled in the future to make the Torii Gateway more inclusive.
Already, reports have confirmed that Solana-based projects are seeking cross-chain expansion, with some deploying native tokens on Shibarium. Explaining how this is done, Shiba Inu marketing lead Lucie highlighted that projects could simply deploy a Shibarium version of their token, tap into the combinator ecosystem, build a utility that exists on Shibarium, or prepare for the future.
Recently, Shibarium announced an updated documentation to enable developers to integrate with ShibaSwap V1 and V2.
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Source: https://coingape.com/hoichis-torii-gateway-takes-shibarium-cross-chain-as-co-founders-discuss-project/
