- Gateway is an app chain powered by Cosmos.
- It’s designed to allow entry to unified liquidity within the Cosmos ecosystem.
Decentralized messaging protocol Wormhole has launched its application-specific blockchain dubbed Wormhole Gateway. The app chain is powered by the Cosmos SDK and goals to broaden entry and liquidity with the blockchain platform ecosystem.
The Wormhole Basis, which introduced Gateway on Friday, stated the app chain was “suitable with and complementary to IBC.”
Wormhole to attach 23 blockchains in Cosmos
In keeping with particulars shared in a weblog submit, Gateway permits Wormhole to attach over 23 blockchains together with Osmosis, Evmos, and Neutron throughout six runtimes to Cosmos. That is achieved by a liquidity router that permits customers to switch funds to any app chain throughout the Cosmos ecosystem with out further transition charges, the protocol notes.
Introducing
Wormhole Gateway
– an application-specific blockchain powered by the @cosmos SDKs.
Gateway’s objective is to assist broaden entry (and supply liquidity) to the Cosmos ecosystem whereas enhancing Wormhole’s safety and sovereignty. pic.twitter.com/qG1kyvcnoY
— Wormhole
(@wormholecrypto) July 21, 2023
Gateway can be designed to enhance Wormhole’s safety and sovereignty. Safety is essential to the protocol given the influence of a February 2022 hack on the Wormhole Bridge that noticed a hack 120,000 wETH value $325 million. The exploit on the Solana-Ethereum bridge noticed the value of SOL drop sharply amid group response to the information.
As a part of enhancing safety within the Cosmos ecosystem, Wormhole launched Governor, a module designed to restrict cross-chain contagion within the occasion of a hack.
In June, Wormhole launched Auto Relays, a decentralized community of relays that permits cross-chain messaging that builders can leverage with out having to develop, run, or handle an off-chain part. With this, builders can deploy a completely purposeful cross-chain dApp by a single power contract.