 | Wormhole (W)Wormhole is the leading interoperability platform that empowers development and growth across blockchains. Wormhole provides developers access to liquidity and users on over 20 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more. Funding Round: $225 Million Airdrop: https://airdrop.wormhole.com/ IMPORTANT: By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice. |
Overview
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OpenWhat is Wormhole
Wormhole is not a blockchain itself, it provides a means of communication between blockchains or rollups. Wormhole is not a token bridge, though there are protocols built on Wormhole that serve this purpose. Wormhole is the leading interoperability platform that powers multichain applications and bridges at scale. Wormhole provides developers access to liquidity and users on over 30 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more. Consider the following examples of potential applications that are now possible with Wormhole:- Cross Chain Exchange: Using Wormhole Connect, a developer can build an exchange that allows deposits from any Wormhole connected chain, massively increasing the liquidity their users can access.
- Cross Chain Governance: If a group of NFT collections on different networks wanted their holders to vote on a combined proposal, they could pick a "voting" chain, and use Wormhole to communicate votes cast on their disparate chains to the voting chain.
- Cross Chain Game: A game could be built and played on a performant network like Solana, and it's rewards issued as NFTs on a different network, for example Ethereum.
DetailsToken supply: 10,000,000,000 WRaised: 225,000,000 USD LegalRegistration year: 2021 | Token infoTicker: WToken distribution: Guardian Nodes - 5.1% Community & Launch - 17% Core contributors - 12% Ecosystem & Incubation - 31% Strategic Network Participants - 11.6% Foundation Treasury - 23.3% |
Wormhole Roadmap
The Wormhole ecosystem will be launching a portfolio of software solutions to achieve the following collective vision for ZK-enabled interoperability. The path ahead for Wormhole ZK is marked by a few significant milestones and strategic collaborations, all aimed at enabling extremely fast, cheap, and trustless message verification.
- Onboarding Cryptography Expertise – The Wormhole Foundation has given Contributor Grants to four new engineering teams specializing in zero-knowledge cryptography and will roll out these announcements over the coming weeks.
- Unlocking Hardware Resources – Wormhole contributors will be collaborating with a strategic hardware provider to accelerate a number of light client implementations, as well as to source hardware accelerators for Wormhole contributors as the number of ZK-enabled corridors and ZK-verified messages continue to scale.
- Upcoming Light Client Rollouts – Light clients allow users and applications to quickly and efficiently verify the state (e.g. current account balances, smart contract data, etc.) of a blockchain network. Running a light client directly on-chain (as a smart contract) is still infeasible on many blockchains due to the high cost of verification, but possible using succinct, verifiable computation. This allows performing the expensive light client verification off-chain, and more cheaply verifying the correctness of the light client execution on-chain. Over the coming months, ZK light-clients for blockchains, including Ethereum, Sui, Aptos, Near, and Cosmos will be deployed and integrated with Wormhole, enabling trustless, bi-directional transfers of data.
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