Wormhole allows existing projects, platforms, and communities to move tokenized assets seamlessly across blockchains to benefit from Solana’s high speed and low cost.
How it Works
Wormhole is not a blockchain network — it doesn’t have to be. Instead, it can safely rely on consensus and finalization of the chains that it bridges.
It is leaderless — all guardians perform the same computation upon observing an on-chain event, and sign a so-calledValidator Action Approval (VAA). If a 2/3+ majority of all guardian nodes have observed and signed the same event using their individual keys, then it is automatically considered valid by all Wormhole contracts on all chains and triggers a mint/burn.
All guardians have equal weight — there’s no Wormhole staking token. PoS economics are very hard to get right, and can easily get misaligned. With Wormhole being closely coupled to Solana, we believe that a PoA network that “borrows” identities and trust from the main chain is much less likely to be subtly broken or have misaligned incentives than a separate PoS chain.
We have successfully avoided the use of bleeding edge cryptography — instead, we use a plain M/N multisig scheme using secp256k1 signatures. It’s really quite boring, and in cryptography, boring is exactly what one wants!Read More
When will Wormhole be live?
After undergoing an in-depth security audit by the smart contract and cryptography experts at Kudelski, we're happy to announce that Wormhole is now live, starting with support for ETH!
This is just the beginning: in the coming weeks we'll be looking to add support for Terra as well, upgrading Wormhole to a 3 way cross-chain bridge.
Not ready to start building? Keep in touch.