Press Release – updated: Aug 12, 2018 22:00 CDT
MAASTRICHT, Netherlands, August 12, 2018 – Topl, whose blockchain protocol is optimized for impact investment in developing markets, today announced a test-net launch of their sidechaining protocol Heimdallr. The test-net launch of Heimdallr is the first step towards Topl’s implementation of Heimdallr Genesis, a proposed trustless sidechaining protocol for use between proof-of-stake blockchains using IOHK’s Ouroboros Genesis consensus algorithm.
Sidechaining allows for seamless communication and value transfer between the ever-growing number of specialized blockchains in production. The vast majority of sidechains that currently exist require users to trust a third party to publish transactions from one blockchain to another. So-called trusted sidechains are vulnerable to manipulation and the publishing of fraudulent assets or information by third parties.
While Heimdallr is also a trusted solution, it is intended as only the first step to Heimdallr Genesis. Leveraging the idea of Genesis proofs found in IOHK’s Ouroboros Genesis consensus algorithm, Heimdallr Genesis will allow for truly trustless sidechain connections between proof-of-stake blockchains. To date, achieving trustless sidechaining has only been possible between proof-of-work blockchains.
Presently, Heimdallr is deployed to connect the Topl’s test-net to the Ethereum (Rinkeby) test-net. However, according to Heimdallr Project Lead Alex Bruns, Topl is working to extend the solution to additional blockchains over the coming months.
Topl is creating a blockchain protocol to support high-yield impact investing and economic development around the world. By helping investors overcome the barriers that suppress the flow of capital into developing regions and enabling responsible investment in young, local companies, Topl will raise investment to levels appropriate to the vast potential of these economies as well as drive long-term social impact.