In a world where there are dozens, if not hundreds, of independent blockchains, each with its own ecosystem, rules, and assets, there is a pressing need for their interconnection. This is where Wormhole (W) comes into play – the leading cross-chain communication protocol that acts as a universal bridge, enabling the secure and efficient transfer of tokens and data between various blockchain networks. Understanding Wormhole is critically important for realizing the future of decentralized finance (DeFi) and the entire Web3.
The Problem of "Isolated Islands" of Blockchains
Initially, blockchains were built as separate, "isolated islands". For example, tokens and decentralized applications (dApps) created on Ethereum could not directly interact with assets or dApps on Solana, Avalanche, or Binance Smart Chain. This created:
Liquidity Fragmentation: Money "stuck" on one chain.
Limited Functionality: Applications could not take advantage of different blockchains.
User Complexity: Centralized exchanges were required to move assets, adding risks and fees.
Wormhole was created to address this fundamental issue, acting as a "wormhole" that connects these isolated worlds.
How Wormhole Works: The Messaging Mechanism and "Guardians"
Wormhole is not just a bridge for tokens; it is an arbitrary message passing protocol. This means it can transfer not only information about tokens but also any other data between blockchains, opening the doors for the creation of truly multi-chain applications.
The core mechanism of Wormhole works as follows:
"Sender" and Core Bridge Contract: On the source blockchain, a user or dApp initiates a transaction (for example, wants to send tokens). This action interacts with the Core Bridge Wormhole smart contract deployed on this chain.
Message Emission (VAA): When the transaction occurs, Core Bridge "emits" an event or message called Verifiable Action Approval (VAA). VAA is essentially an encrypted and signed confirmation of an action that has occurred on the source chain.
Guardians Network: A decentralized network of 19 validators, known as "Guardians", constantly monitors all blockchains connected to Wormhole. When one of the Guardians detects a VAA, it verifies and signs it.
Signature Collection: In order for a VAA to be considered valid, it must be signed by more than two-thirds (2/3+) of the total number of Guardians. This ensures security and fault tolerance.
Transfer and Execution on the Destination Chain: Once a sufficient number of Guardians have signed the VAA, it can be transmitted to the target blockchain. On the target blockchain, another Core Bridge Wormhole smart contract verifies the signatures of the Guardians. If the signatures are valid, the message is "executed" – for example, "wrapped" tokens are issued corresponding to those locked on the source chain, or a function in a dApp is triggered.
Products and Opportunities Powered by Wormhole
Wormhole supports message transfer between more than 30 blockchains, including Ethereum, Solana, BNB Chain, Polygon, Avalanche, Arbitrum, Optimism, Sui, Aptos, and many others. This allows Wormhole to provide:
Token Transfer (Token Bridge): Users can transfer tokens between different blockchains. For example, "locking" ETH on Ethereum and "issuing" wETH (wrapped ETH) on Solana.
Cross-chain dApps: Developers can create applications that can use data and liquidity from multiple blockchains, opening up new opportunities for DeFi, GameFi, and other Web3 sectors.
Cross-chain Governance: The ability to transfer governance decisions of DAOs (decentralized autonomous organizations) between different chains.
Wormhole Queries and NTT: New products such as Wormhole Queries (for querying data from different chains) and Native Token Transfers (NTT, for more native token transfers without "wrapping").
Wormhole is a critical infrastructure element for the multi-chain future. It not only allows for the movement of assets but also creates the foundation for a truly interconnected and interoperable Web3, where the boundaries between blockchains are blurred, and users and developers can seamlessly navigate across different ecosystems.
