Kima Network is a perfect gem these days to watch out in crosschain bridging

Cross-chain bridges seemingly appear to be constant targets of hackers, and with millions of dollars lost in these hacks, one might wonder — why the need for blockchain bridges?

There are over hundreds of blockchains with different features and use cases. While blockchain technology has continued to gain traction and attract more users, the issue of interoperability between different siloed blockchains has remained a major challenge.

Currently, blockchains exist largely as isolated networks that cannot effectively communicate and share data with one another. For instance, Ethereum users cannot deploy smart contracts on the Bitcoin network and Bitcoin holders cannot use their tokens for transactions on the Ethereum network.

Put simply, cross-chain bridges connect individual blockchains, enabling the transfer of assets and information between them.

This allows interoperability across blockchains — allowing users to access protocols and decentralized applications (DApps) in a multi-chain manner.

Cross-chain bridges have emerged as one of the available solutions that are being used to connect different blockchains and ecosystems within the crypto space.

Kima is a blockchain that tackles the interoperability problems found in existing solutions without causing additional liquidity fragmentation. Kima addresses this problem by providing a simple, secure mechanism for allowing users to perform cross-chain atomic swaps without token-wrapping.

The Kima blockchain is built using the Cosmos SDK, which provides a steadfast framework for developing a custom blockchain. The Kima blockchain uses committee-based consensus, where a “committee” is selected to produce blocks and run the consensus protocol.

Each committee consists of a rotating set of “wardens” whose role is to ensure the asset pools remain in sync and withdrawals from a pool on the destination chain are only authorized when a corresponding deposit has been confirmed on the source chain.

Kima wardens control the asset pools through the use of Threshold Signature Schemes (TSS). Security is strengthened by running the wardens inside a Trusted Execution Environment. The group wardens and the parameters of the Kima platform are controlled through the Kima blockchain.