Golden Gate launches public testnet for novel DeFi and cross-chain dapps
Singapore, May 12, 2023: Golden Gate, a programmable layer-0 with novel decentralized finance (DeFi) capabilities and enhanced web3 security standards, has launched its testnet.
GGX’s public testnet is open to developers interested in building natively cross-chain.
Utilizing interchain infrastructure, Golden Gate unites the current landscape of isolated infrastructure while protecting on-chain assets in web3.
Using Golden Gate, developers can avoid the risks that have emerged with the current vulnerable and fragile cross-chain infrastructure existing in the market today.
Golden Gate solves critical cross-chain pain points by allowing developers to build multi-chain applications using its Multi-Party Computation (MPC), Embedded Hybrid VM, and Decentralized Oracle capabilities.
Golden Gate CSO and co-founder, Matthew Doty, said:
“Golden Gate’s capacity to solve critical cross-chain pain points is a significant breakthrough for developers and the Web3 ecosystem. By offering a dramatic reduction in gas cost efficiency with unique zero-knowledge (ZK) precompiles capabilities on ethereum virtual machine (EVM) for Novel DeFi, we expect developers will get creative in their use of our technology.”
In 2014, Doty was among the first two research hires by the Ethereum Foundation. A year later, he co-wrote the Ethereum mining algorithm with Vitalik Buterin.
Golden Gate began developing in 2021 and is now in public TestNet with multiple early projects from the community building Next Generation applications such as decentralized exchanges (DEXes) and automated market makers (AMMs).
Golden Gate’s availability of numerous protocol messaging standards, including IBC, LayerZero, and XCMP, makes it unique by removing developer decision constraints of where to build.
Before founding Golden Gate, the team has helped develop and scale some of today’s leading web3 infrastructure, including layer-1 blockchains, middleware, and DeFi applications.
It has prior experience in traditional technology, academia, and the aerospace industry.
Golden Gate utilizes formal verification to achieve comprehensive security standards from the aerospace and chip manufacturing industries.
Golden Gate CEO and Co-founder Viktor Ihnatiuk added:
“Our mission is to develop a Web3 technology solution that eliminates the interactivity barriers currently in cross-chain. We aim to create a dependable and trustworthy platform that addresses the vulnerabilities in multi-chain DeFi while opening up developers to the next generation of Novel DeFi. Our ultimate goal is to unify and safeguard cross-chain liquidity in the web3 ecosystem.”
CEO Viktor Ihnatiuk and CTO Yehor Butko of Golden Gate have co-led Boosty Labs over the past five years and bring GGX comprehensive blockchain infrastructure coding and engineering experience with a practical knowledge of what works and what doesn’t work for web3 projects.
Boosty Labs is amongst the world’s largest and most prominent blockchain development shops, with 150 engineers and coders, and has helped develop for Consensys, Storj, NEAR, Ledger, and Pocket Network, amongst many others.
To explore how to access Golden Gate’s public testnet, please join Golden Gate’s discord or visit ggxchain.io for more information.
About Golden Gate
Golden Gate (GGX) is an interchain infrastructure that delivers protocol-agnostic cross-chain communications and liquidity routing, featuring a comprehensive security architecture.
Golden Gate provides a next-generation programmable layer-0, an embedded hybrid virtual machine, and advanced DeFi orchestration capabilities that contribute critical infrastructure for web3’s emerging “Internet of Blockchains.”
It is built by a team that collectively helped build critical components of our industry’s first-generation fragmented infrastructure, now with the mission to bring frictionless composability and enhanced security standards to web3.
Contact details
Golden Gate, Lisa Loi, [email protected]
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