Zug, Switzerland, August 28th, 2023, Chainwire

Supra, a leading blockchain organization that provides Oracle and Verifiable Random Function (VRF) services, today announced the creation of HyperNova, its new bridgeless technology that facilitates cross-chain communication directly via L1 consensus. This groundbreaking new methodology allows blockchains to connect interoperably without the need for a centralized bridge.

“HyperNova is a major breakthrough for the blockchain industry,” said Joshua Tobkin, CEO of Supra. “It eliminates the need for centralized bridges, which can be a single point of failure and a major vulnerability in Web3. HyperNova’s bridgeless technology makes blockchain connections more secure, reliable, and scalable via L1 to L1 cryptographic consensus.”

HyperNova bridgeless technology works by using Supra’s novel, low-latency, consensus algorithm, known as Moonshot Consensus, to understand the underlying cryptographic signatures of interacting chains. This allows Supra to provide a secure, reliable, and scalable cross-chain consensus that is strictly better than traditional bridge designs.

Benefits of Supra’s HyperNova Bridgeless Tech

Supra’s HyperNova offers a number of benefits over traditional centralized bridges, including:

• Increased security: HyperNova eliminates the need for a centralized bridge, which can be a single point of failure. Instead, Supra directly verifies that cryptographic signatures of the source and destination chains, which provides L1 to L1 security guarantees. 
• Improved scalability: Bridgeless tech is more scalable than traditional centralized bridges. This is because Supra itself is a high-throughput IntraLayer that can handle many cross-chain consensus requests simultaneously. 
• Enhanced capabilities: Supra’s HyperNova multi-chain solution enables novel cross-chain use cases that are not possible in bilateral (one-to-one) solutions.

Use Cases for Supra’s HyperNova

Bridgeless tech can be used for a variety of use cases, including:

• Cross-chain DeFi: HyperNova can be used to enable cross-chain DeFi, which allows users to transfer assets and interact with DeFi applications across different blockchains.
• Cross-chain gaming: Bridgeless tech can be used to enable cross-chain gaming, which allows players to transfer their in-game assets or NFTs across different blockchain-based games.
• Cross-chain oracles: HyperNova can be used to enable cross-chain oracles, which provide secure and reliable data feeds to DeFi applications across many ecosystems.

About Supra

Supra is building a low-latency interoperability infrastructure to provide Web3 capabilities that traditional blockchain designs lack. Supra, as a vertically integrated IntraLayer™, enables a shared security paradigm across a variety of oracle services. This includes securing external data on-chain, cross-chain consensus via their bridgeless HyperNova, automation, VRF, smart contract execution, and more. 

After thousands of hours of R&D and simulations, Supra’s technical breakthroughs are solving the Oracle Dilemma and optimizing network performance across the board in terms of security, throughput, time to finality, composability, and programmability. Supra has taken an academic approach to development, which has been an integral part of the organization’s commitment to advancing Web3 performance and security. This is characterized by a commitment to deep research, transparency, and going through a rigorous peer-review process in every design and product released.

Dr. Aniket Kate, inventor of KZG Commitments utilized in Ethereum L2 Data Availability solutions, and the Supra team are diligently composing new whitepapers, so there are still many novel solutions in the pipeline soon to be publicized. To learn more about Supra and participate in their gamified learn-to-earn program, visit Countdown to Blastoff. Lastly, sign up for the whitelist for an opportunity to be notified in advance of any possible future token offerings and for more alpha. 

Contact

Eli PhoenixSupramarketing@supraoracles.com

Bitcoin Price Analysis:  Bears Eyeing 25363 – 29 August 2023

Bitcoin (BTC/USD) retained a bearish bias early in the Asian session as the pair continued to plumb lows following selling pressure that intensified around the 26171.87 area after sellers emerged around the 26818.28 area, representing the 23.6% retracement of the depreciating range from 31862.21 to 25234.76.   Some selling pressure reversed around the 25850 area, just above the 25842 area that represents a recent upside price objective related to buying pressure around the 25350 area.   Stops are cited below the 25706, 25698, 25645, 25493, and 25363 levels, downside price objectives related to selling pressure around the 26818 and 26567 areas.  Areas of technical support and potential buying pressure in appreciating ranges from the 15460 and 19568.52 levels include the 23661, 22793, and 21725 levels.   Following recent selling pressure, areas of technical resistance and potential selling pressure include the 27139, 27728, 27766, 28316, 28548, 29154, 29330, and 30443 levels. 

The recent fresh multi-month low around the 25234.76 area represented a test of a major downside price objective around the 25128.94 area that is associated with selling pressure that increased around the 31862.21 and 30421.29 levels in July.   Above the market, upside price objectives include the 30526, 30611, 30762, and 31145 areas.  Upside price objectives related to other levels of buying pressure include the 32125 and 33569 areas, and Stops are cited above additional upside price objectives around the 32043, 34531, 34658, and 35912 areas.   Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and below the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 26081.67 and the 50-bar MA (Hourly) at 26037.53.

Technical Support is expected around 24440.41/ 23270.10/ 22769.39 with Stops expected below.

Technical Resistance is expected around 31986.16/ 32989.19/ 34658.69 with Stops expected above.  

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.                                   

Sally Ho’s Technical AnalysisView Yesterday’s Trading Analysis

Disclaimer: Sally Ho’s Technical Analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.