0x (Wormhole)

1. Summary

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Developer

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Social

86

Momentum (beta)

0

Stack Rank™

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Price

$0.000000000000 0.0%

Market Cap

$ (#29938)

Supply

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All Time High (ATH) Date	16th Nov 2024 (3 months ago)
All Time Low (ATL) Date	16th Nov 2024 (3 months ago)

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Description

0x (Wormhole)

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0x (Wormhole)

Overview

0x (Wormhole) is an innovative blockchain interoperability solution that facilitates smooth cross-chain communication and interaction. Leveraging a combination of Guardians, Relayers, and xAssets, Wormhole enables reliable and efficient message transmission across different blockchain networks.

Functionalities

1. Cross-Chain Messaging

   • Allows for secure message transmission between different blockchain networks using self-relaying and generic relayers.
   • Enables the transfer of data and assets directly between chains, eliminating the need for trusted intermediaries.

2. Guardians

   • Responsible for preventing fraudulent behavior and ensuring the validity of messages.
   • Play a crucial role in maintaining the integrity of the Wormhole ecosystem.

3. Relayers

   • Entities that facilitate message transmission between chains, ensuring that messages are correctly formatted and forwarded to their destinations.
   • Available in various forms, including generic relayers and mock relayers for testing purposes.

4. xAssets

   • Tokenized representations of assets from other chains, allowing them to be seamlessly integrated and utilized within the Wormhole network.
   • Enables users to engage with assets from multiple chains in a unified and convenient manner.

Implementation

• Can be integrated into smart contracts using the relayer contracts and specific Wormhole Core addresses for different networks.
• Utilizes SPEC %-address notation for Wormhole addresses.

Significance

• Offers a ground-breaking approach to addressing the longstanding issue of blockchain interoperability.
• Envisions a more interconnected and versatile blockchain environment, enabling seamless interactions and synergies between different blockchain networks.

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