2021-08-09 18:24:29
Wormhole for Terra has arrived!
Interchain Defi for $UST is here Terra x Wormhole x IBC — Inter-Chain Optionality Wormhole extends the tendrils of demand for $UST across diverse DeFi ecosystems, unlocking a whole new dimension of cross-chain value and message transfer between the Terra economy and connected chains.
Wormhole functions as a conduit that shuttles data between more high-usage, disparate chains like Solana, Ethereum, and Terra — all of which have distinct consensus and security designs.
Notably,
Wormhole opted for a leaderless “Guardian” design where the intermediary oracle network (i.e., Wormhole) does not maintain its own consensus.
This differs significantly from a remote sidechain implementation of a PoS-based oracle network since Wormhole relies on the consensus finality of the connected chains rather than its own node operators.
Next Steps:
TFL will be converting its Shuttle bridge implementations to Wormhole which will remain available on the Terra Bridge UI. Solana will be added to the Terra Bridge UI as well, utilizing Wormhole.
Eventually, the goal is for Terra Bridge to serve as the unified front-end for inter-chain transfers between Terra and other chains, including both Wormhole and IBC.
Detailed Post: https://medium.com/terra-money/terra-goes-live-on-wormhole-v2-12df49d446d2
If you’re interested in building something on Terra, Wormhole-related, or are ideating something interesting that has mutual synergies between Terra, Solana, BSC, and Ethereum, please let us know by filling out the Airtable application form below!
Form: https://airtable.com/shrN4ydO8nZcMa0ku
Official Wormhole Github: https://github.com/certusone/wormhole/blob/48b3c0a3f8b35818952f61c38d89850eb8924b55/docs/protocol.md
Retweet: https://twitter.com/terra_money/status/1424744861224378368
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