Wormhole (W)

What is Wormhole (W)?

Wormhole is a cross-chain protocol developed to enable the secure and efficient transfer of data and tokens between various blockchain networks. It was initiated by Jump Crypto, the technological division of Jump Trading Group, and launched in 2021. Initially focusing on bridging tokens between Ethereum and Solana, Wormhole has evolved into Wormhole V2, a more generalised interoperability layer facilitating a wide range of cross-chain interactions, including governance, token transfers, and NFT movements. This evolution has allowed Wormhole to support over 30 blockchain networks and foster the development of more than 200 applications utilising its technology.

What is Wormhole (W) used for?

The primary use of Wormhole is to enhance interoperability across different blockchain platforms. It achieves this by enabling the transfer of various types of data and assets, such as fungible tokens and non-fungible tokens (NFTs), across supported blockchains. This capability is vital for decentralised applications (dApps) that operate across multiple chains, as it allows them to function seamlessly and access a broader ecosystem. Wormhole's suite of products includes features like Wormhole ZK, which integrates zero-knowledge proofs for improved security, and Wormhole Queries for efficient on-chain data access, among others. These tools collectively aim to provide a robust infrastructure for cross-chain communication and asset transfer, facilitating a more interconnected and functional blockchain ecosystem.

Who created Wormhole (W)?

Originally created by Jump Crypto, part of Jump Trading Group, Wormhole aimed to bridge the interoperability gap across blockchain networks. However, following significant developments, including a separation announced in November 2023, Wormhole and Jump Trading Group have parted ways, with Wormhole now operating independently.