Protocol for decentralized messaging Wormhole has announced Wormhole Gateway, an application-specific blockchain. The Cosmos SDK powers the appchain, which aims to open up access to and liquidity inside the ecosystem of the blockchain platform.
Gateway was announced on Friday by Wormhole Basis, which claimed the appchain is “appropriate and complementary to IBC.”
Wormhole in Cosmos will connect 23 blockchains.
According to information provided in a blog post, Gateway enables Wormhole to connect to Cosmos through six runtimes using 23+ blockchains, including Osmosis, Evmos, and Neutron. This is accomplished using a liquidity router, according to the protocol, which enables users to bridge funds to any appchain within the Cosmos ecosystem at no additional bridging costs.
The safety and sovereignty of Wormhole can be improved by the design of the Gateway. Given the impact of a February 2022 hack on the Wormhole bridge, which saw a hacker steal 120,000 wETH worth $325 million, security is crucial to the protocol. The Solana-Ethereum bridge exploit saw SOL’s value fall precipitously as a result of the locals’ reaction to the news.
Wormhole introduced Governor, a module intended to limit cross-chain contagion in the event of a hack, as part of its efforts to increase security across the Cosmos ecosystem.
Automated Relayers, a decentralized network of relayers that enables cross-chain messaging and which developers may access without having to create, maintain, or manage an off-chain element, was introduced by Wormhole in June. With this, developers may use a single Solidity contract to deploy a fully functional cross-chain dApp.
