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‘Wormhole’ protocol goes live, to connect Solana, BSC, Ethereum, and Terra blockchains

Wormhole protocol launches, to link Solana with BSC, Terra and Ethereum DeFi projects
Justinas
Baltrusaitis
Updated: 12 Aug, 2021
2 mins read

Wormhole, a cross-chain messaging protocol, has launched its mainnet version today.

The mainnet version of the interoperability protocol seeks to link Solana and other leading decentralized finance networks and it currently supports Ethereum, Terra Money, and the Binance Smart Chain ecosystems, according to an official statement

The protocol will serve roles such as permitting blockchain networks that have no existing links to interact with each other. The project targets crypto assets and non-fungible tokens (NFTs), price data, among other elements. 

In general, Wormhole aims to enable existing projects, platforms, and communities to move tokenized assets seamlessly and trustlessly across blockchains. Notably, data can cross this Wormhole trustless bridge in both directions. 

This ability enables different types of information flows within the blockchain, including governance mechanisms like voting.

Furthermore, Wormhole comes with 19 validators where projects can monitor if an asset is locked up in one chain and is copied before freely moving to the next chain.

The protocol is also built to be synchronous allowing for low-latency consensus. This capability ensures information is utilized freely without any delays.

“The launch of @wormholecrypto is a strong signal the future is cross-chain. It’s a new kind of message protocol that can connect any blockchain through a verifiable, trustless network,” Solana said. 

Key Wormhole features

Wormhole also has attributes such as being completely generic with its cross-chain messages containing arbitrary data enabling developers to build applications using the protocol.

Some of the applications are in asset transfers, oracle data, governance decisions, and NFTs.  Additionally, interoperability protocol unlocks network effects and allows efficient use of resources.

The Wormhole protocol testnet was first announced in October last year with Solana partnering with Certus One, a premier validator for distributed ledger technology. 

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Justinas Baltrusaitis
Author

Justin crafts insightful data-driven stories on finance, banking, and digital assets. His reports were cited by many influential outlets globally like Forbes, Financial Times, CNBC, Bloomberg, Business Insider, Nasdaq.com, Investing.com, Reuters, among others.