XCM integration of Integritee and Moonriver is completed
Zurich, Switzerland — June 30, 2022 — The XCM integration of Integritee and Moonriver has been completed: xcTEER is now live and available on Moonriver.
Once deposited on Moonriver as xcTEER (an XC-20 representation of TEER), the token can be used across Moonriver’s active DeFi ecosystem. The XC-20 format allows Substrate-based tokens to be used like ERC-20s within Moonriver’s EVM environment.
The integration welcomes the movement of fungible tokens from one parachain to the other, meaning users will, for the first time, be able to hold — and exchange — xcTEER in an Ethereum-syle H160 address within Metamask.
Integritee uses the Polkadot Relay Chain as a security layer while leveraging hardware-based trusted execution environments (TEE) to enable confidential data processing. Integritee’s “TEEracle” data oracles can connect with any Web2 or Web3 data stores in a decentralized manner for higher security, with the same efficiency as a centralized server.
Following this Moonriver integration, Integritee will be able to develop their TEEracle concept further, potentially opening up a wider range of use cases for processing data fully confidentially via access to Integritee’s side chain TEE processing. As more enterprises adopt Web3 technologies, access to Integritee solutions from Moonriver’s multi-chain smart contracts will offer a broad reach for companies that require access to a secure TEE environment.
As Moonbeam continues to build out cross-chain connectivity to services provided by specialized blockchains, Moonbeam developers will be able to incorporate services based on Integritee’s confidential data processing into their applications.
Integritee is the most scalable, privacy-enabling network with a Parachain on Kusama. Our SDK solution combines the security and trust of Polkadot, the scalability of second-layer Sidechains, and the confidentiality of Trusted Execution Environments (TEE), a special-purpose hardware based on Intel Software Guard Extensions (SGX) technology inside which computations run securely, confidentially, and verifiably. For more information, click here: https://integritee.network/.
Moonbeam is an Ethereum-compatible smart contract platform and the top destination for multi-chain applications on the Polkadot network. Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Like Moonriver, its sister parachain on Kusama, Moonbeam is expected to accumulate developer and user activity from the 80+ projects building DApps and protocols on the network. As a parachain on the Polkadot network, Moonbeam benefits from the shared security of the Polkadot Relay Chain and integrations with other chains that are connected to Polkadot. Learn more: https://moonbeam.network/.
Integritee enables developers and firms to unchain the value of sensitive data. By combining the trust of Polkadot with the confidentiality and speed of enterprise-grade hardware, it will power a new generation of data-driven dApps and services.