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ChainPort Launches Private Bridge Service

ChainPort Launches Private Bridge Service

The ChainPort team is proud to introduce ChainPort Private Bridge. Customize ChainPort as your private bridge with private control & advanced features.

ChainPort Private Bridge combines the best features of ChainPort with additional customizable components. These new features provide extra flexibility and control when porting tokens cross chain. 

An Unprecedented Level of Security Architecture

One of the critical features of ChainPort Private Bridge is the Shared Custody functionality. As always, 95% of funds are stored in cold storage wallets with MPC encryption and multi-sig protection. The prominent additional security feature is 3-of-5 key requirements to access funds.

With ChainPort’s Private Bridge, the private keys to bridged tokens are split into 5. ChainPort’s team will receive two keys, the team behind the port will receive two keys, and an external lawyer will receive one. Without a majority of 3-of-5, no single party can move funds. Splitting keys safeguards funds in extreme situations in which recovery is emergency funds are required and removes the need for trust.

ChainPort is the only fully custodian bridge in the crypto industry and offers battle-tested security features. MPC or multi-party computation encryption is provided by Fireblocks, and Gnosis Safe supplies multi-sig support. Both firms are leaders in the world of blockchain security. In addition, ChainPort has undergone multiple independent security audits by the top auditors in the space, including Certik, Cyber Unit, and Trail of Bits. Combining these features with the shared custody function adds an extra layer of security.

By adding a shared custody function, ChainPort is the first and only fully custodian blockchain bridge in the space to offer a secure, shared key solution.    

Users can find information regarding ChainPort Private Bridge’s additional functionalities and features in our newsletter.

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