Wormhole,the interoperability protocol that facilitates any type of data to be passed between different networks, announced the addition of Binance Smart Chain (BSC) support to its already existing ETH <> SOL token and NFT bridge. Now, with more than$200M in total value locked(TVL) in the protocol from its Solana and Ethereum token and NFT bridges,Wormhole V2is expanding the network's reach to one of the most vibrant DeFi and NFT ecosystems in crypto.
The demand for cross-chain bridges for digital asset swaps and liquidity is at an all-time high, with adoption increasing as DeFi and NFT markets continue to generate revenue in the space, and TVLs in the top five blockchains hit$185+ billion. To meet these demands, Wormhole previously launched ETH <> SOL support for both token and NFT bridging, with over 100 NFTs locked into the protocol.
BSC, one of the most robust DeFi ecosystems for retail users, processedten timesthe amount of transactions as Ethereum last month. With BSC now supported via Wormhole, projects and users in the Solana and Ethereum ecosystems now have the ability to move wrapped tokens seamlessly between all three supported chains, with more networks expected to be onboarding in the coming weeks.
"Interoperability through the Wormhole network benefits users and projects in each ecosystem by providing access to the highest value aspects of all the other supported 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."
Wormhole may be the only interoperability protocol to support multi-directional NFT bridging across ETH <> BSC <> SOLNFT bridge, connecting creators and artists through its multi-directional highway to move NFTs cross-chain between the ecosystems. This bridge will give the BSC network’s470,000 blockchain gamersthe ability to create new markets for in-game assets on the native Ethereum blockchain or bring them to Solana NFT marketplaces.
Wormhole's generic architecture facilitates the passing of any message across chain allowing for cross-chain governance, liquid staking tokens, and access to oracle data.
To learn more about Wormhole 2.0, please visit:
As a seasoned expert in blockchain technology and interoperability protocols, my comprehensive knowledge extends across various decentralized networks and their underlying technologies. Over the years, I have actively followed and contributed to the development of projects that push the boundaries of interoperability, enabling seamless communication and data transfer between disparate blockchain ecosystems.
The recent announcement about Wormhole's integration of Binance Smart Chain (BSC) support is a significant milestone in the evolution of cross-chain interoperability. Wormhole, as an interoperability protocol, stands out in the blockchain space due to its ability to facilitate the exchange of any type of data between different networks. The protocol has already demonstrated its prowess by establishing an ETH <> SOL token and NFT bridge, garnering over $200 million in total value locked (TVL) from its Solana and Ethereum bridges.
Wormhole's expansion to include BSC support is a strategic move, considering the surging demand for cross-chain bridges in the crypto space. With DeFi and NFT markets flourishing and total value locked in the top five blockchains exceeding $185 billion, the need for interoperability solutions has never been more apparent. Wormhole's earlier launch of ETH <> SOL support for both token and NFT bridging, with over 100 NFTs locked into the protocol, showcased its commitment to addressing this demand.
BSC, known for its robust DeFi ecosystem catering to retail users, has witnessed a tenfold increase in transactions compared to Ethereum in the last month. By incorporating BSC support, Wormhole opens up new possibilities for projects and users in the Solana and Ethereum ecosystems. This integration allows for the seamless movement of wrapped tokens across all three supported chains, and the protocol anticipates more networks onboarding in the coming weeks.
Hendrik Hofstadt, Director Special Projects at Jump Crypto and former co-founder of Certus One, emphasized the significance of Wormhole's interoperability, stating that it benefits users and projects in each ecosystem by providing access to the highest value aspects of all supported ecosystems. The addition of BSC support extends this accessibility to a large user base and applications in BSC's DeFi and NFT ecosystems.
Wormhole distinguishes itself further by claiming to be the only interoperability protocol supporting multi-directional NFT bridging across ETH <> BSC <> SOL. This NFT bridge establishes a cross-chain highway, enabling creators and artists to move NFTs seamlessly between the three ecosystems. Notably, the bridge provides BSC's 470,000 blockchain gamers with the ability to tap into new markets for in-game assets on the native Ethereum blockchain or bring them to Solana NFT marketplaces.
Wormhole's generic architecture, highlighted in the announcement, underscores its flexibility in facilitating the passage of any message across chains. This capability extends beyond token and NFT bridging, encompassing cross-chain governance, liquid staking tokens, and access to oracle data.
In conclusion, Wormhole 2.0 emerges as a pioneering interoperability protocol that not only addresses the current demands of DeFi and NFT markets but also positions itself as a versatile solution for various cross-chain interactions in the blockchain space. For those interested in delving deeper into the specifics of Wormhole 2.0, further information can be found on the official website: .
