Wormhole, the token and NFT bridge that has been helping to pass messages between the Solana and Ethereum bridges to ensure interoperability, has announced the integration of the Binance Smart Chain into the bridge.
Wormhole is a protocol that helps to pass any type of data between different networks and this is a way in which the different blockchains would be able to speak to each other. Cross-chain is one of the biggest challenges being faced by the different blockchain networks and the dApps built on them and various companies have been coming up with different solutions for the same. While some are looking to built virtual machines within the different networks to ensure interoperability, others like Wormhole are building protocols to bring about a common language/protocol for the different networks to talk to each other.
“Interoperability through the Wormhole network benefits users and projects in each ecosystem by providing access to the highest value aspects of all the other supporting ecosystems,” said Hendrik Hofstadt, Director Special Projects at Jump Crypto and former co-founder of Certus One, the lead contributor to Wormhole. “The addition of BSC provides access to its large base of users and applications across its DeFi and NFT ecosystems, which will add an exciting element to the Wormhole network.”
The bridge is now reported to have $200 in total value locked in its bridge between the Solana and Ethereum networks and is probably the only bridge that helps with NFT interoperability between the Solana, Ethereum, and Binance Smart Chain networks at this point in time. It hopes that this bridge would pave the way for the creators to be able to build for multiple chains at the same time and get value for their products and creations from multiple networks by putting them up for sale in the different blockchains.
The token and NFT bridge allows the passing of any kind of message between the various networks which means that any product built on any specific network can be ported over easily to other networks as well and this usage is not just restricted to specific tokens or NFTs. Though the jury is still out on which is the best way to achieve cross-chain interoperability, the developers would be glad that there is a simple messaging protocol across various networks that is available now and serves the purpose.