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How Helix Works: Natively Multi-chain

Published at 20/Jan, 3 mins to read

Without the need for bridges or any middleware, Helix can transact directly on each chain - making Helix truly natively multi-chain. Let’s dig into how this works:

  1. ECDSA Cryptography. Simply put - blockchains like Bitcoin use ECDSA to sign transactions. Approximately 85% of the total crypto market cap relies on ECDSA as its underlying cryptographic signature scheme (see cryptography behind top protocols This is the case for Bitcoin, Ethereum, Dogecoin, USDC and all EVM chains. Therefore, our canister smart contract can interact directly with each of these chains.
  2. Chain key ECDSA. We are able to create native addresses and transactions through the use of chain key technology that is enabled by the Internet Computer. This allows canister smart contracts to create native Bitcoin addresses, hold real BTC, ETH or any other coin whose chain uses ECDSA.ork. In addition, we are able to sign and propagate transactions to these chains directly without bridges or wrapping.

By bringing these two technologies together, every Helix Markets user will have their own set of addresses on each of the supported networks. Helix does not have custody over user funds and cannot initiate transactions on behalf of any user. You will be able to trade native Bitcoin, Ethereum, Doge, Shiba Inu or any other supported token in a non-custodial way. Therefore, Helix will bring native liquidity from other chains into the IC ecosystem in a secure manner without bridged or wrapped tokens. Any project therefore, built on the Internet Computer will be able to tap into this liquidity!