What is Wormhole and how does it work? What are the key features and benefits of Wormhole? How can I learn more about Wormhole and stay up-to-date?
Wormhole is a generic message passing protocol that connects to multiple chains including Ethereum, Solana, Terra, Binance Smart Chain, Polygon, Avalanche, Oasis, Fantom, Karura, Celo, Acala and Aurora.
Wormhole does this through emitting messages from one chain which are observed by a Guardian network of nodes and verified. After verification, this message is submitted to the target chain for processing.
This simple message passing primitive enables cross chain functionality. Users interact with xDapps (cross chain decentralized applications) to transfer xAssets (cross chain assets) between networks or access their xData (cross chain data) to provide them services on their current network.
On top of the Wormhole message protocol, there’s two specific applications that help concentrate liquidity for xAssets. The Portal Token Bridge and Portal NFT Bridge provide a standard message format for token and NFT transfers across the Wormhole bridge.