Wormhole Protocol is a cross-chain messaging and asset transfer protocol designed to facilitate interactions between different blockchain networks. It allows users and applications to move assets and data seamlessly across chains, enhancing interoperability.The protocol works by using “guardians,” which are a network of nodes that monitor and validate transactions. When an asset is moved from one chain to another, Wormhole locks the asset on the original chain and mints a corresponding representation on the target chain. This process ensures that the total supply of the asset remains unchanged.Wormhole aims to support various tokens and applications, enabling use cases like decentralized finance (DeFi) and non-fungible tokens (NFTs) to thrive across multiple platforms. By creating a bridge between diverse ecosystems, it fosters greater liquidity and accessibility for users.Overall, Wormhole Protocol enhances the flexibility of blockchain technologies, making it easier for developers and users to engage with multiple networks without facing the limitations of isolation.
Avalanche Treasury Co. to Go Public in $675M Deal With Mountain Lake Acquisition
Avalanche Treasury Co. (AVAT), a digital asset treasury company aligned with the Avalanche Foundation, said Wednesday it has agreed to