According to the official announcement, the mainnet version of the interoperability protocol aims to connect Solana and other leading decentralized financial networks. It currently supports the Ethereum, Terra Money and Binance Smart Chain ecosystems.
The protocol is meant to enable communication between blockchains that have no points of contact. The project applies to native digital assets listed blockchains, as well as non-convertible tokens (NFTs) and pricing data, among others.
2/Wormhole is a messaging protocol that allows information to flow freely cross-chain between previously siloed blockchains. Messages can be connected to other chains through a verifiable, trustless network
, supported by validators also known as Guardians. – Wormhole (@wormholecrypto) August 9, 2021
Overall, Wormhole aims to enable existing projects, platforms, and communities to seamlessly and seamlessly move tokenized resources between blockchains. It is worth noting that data can cross the Wormhole bridge in both directions.
Such functionality enables the processing of different types of information flows on the blockchain, including governance mechanisms such as voting.
Furthermore, Wormhole includes 19 validators where projects can monitor whether a resource is encapsulated in one chain and whether it is copied before moving freely to the next chain.
The protocol is also built to be synchronous, allowing for low latency consensus.
“The launch of @wormholecrypto is a strong signal that the future is cross-chain. It is a new kind of messaging protocol that can connect any blockchain over a verifiable network,” – Solan’s team stated.
Key features of Wormhole
Wormhole also has attributes such as complete genericity due to cross-chain messages containing anyne data that allows developers to create applications using the protocol.
Some applications involve asset transfer, Oracle data, management decisions, and NFT. Additionally, the interoperability protocol unlocks network effects and enables efficient use of resources.