Solana Targets Ethereum’s Scalability Issue by Introducing a Bridge called Wormhole

2020-10-8 19:59

After launching DEX Serum, Solana Blockchain is now going for the heart of the problem.

Today, Wormhole – a secure, trustless bridge connecting Ethereum to Solana is announced.

With the DeFi frenzy, up until a few weeks ago, pushing the activity on Ethereum to new highs — fees to skyrocket and the network to clog — the market has been in serious need for a solution. As the team mentions in its official statement, speed and cost being the hurdle for adoption –

“the big leap that tips the scale towards Web3 will be propelled by scalability, and that’s exactly what Solana is solving.”

To cater to the significant growth in DeFi applications and to make sure the flow of “greater multiples of new capital” is not stopped by congestion and high gas fees as they keep money on the sidelines, Solana has joined hands with Certus One. Stating,

“Wormhole enables DeFi platforms to leverage Solana for high speed, low-cost transactions, while still allowing for settlement on another base chain.”

This bidirectional cross-chain bridge on Solana, which is just the first of many, connects ETH and ERC 20 tokens to SPL tokens, Solana token standard. When it comes out in a month, DeFi projects can move tokenized assets across blockchains running into constant issues.

Wormhole uses decentralIzed cross-chain oracles called guardians, operated by a set of node operators including Solana validators and other stakeholders who certify token lockups and burns on one chain to mint new tokens on others.

And with this, Solana Foundation is hosting a virtual hackathon, starting October 28, for the community to get together, use Wormhole and bring ideas to create highly scalable and cost-efficient web3 applications.

Solana (SOL) Live Price 1 SOL/USD =2.3626 change ~ 6.39

Coin Market Cap

100.25 Million

24 Hour Volume

16.63 Million

24 Hour Change

6.39 var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~SOL~USD");

The post Solana Targets Ethereum’s Scalability Issue by Introducing a Bridge called Wormhole first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Solana (SOL) на Currencies.ru

$ 245.87 (+0.93%)
Объем 24H $8.06b
Изменеия 24h: 2.17 %, 7d: 14.20 %
Cегодня L: $231.25 - H: $247.28
Капитализация $116.69b Rank 4
Цена в час новости $ 2.3327 (10440.15%)

solana ethereum wormhole bridge scalability introducing issue

Источник: bitcoinexchangeguide.com

solana ethereum → Результатов: 11


Prophichain Eyes Violent Upward Trend With 32,980% Rise Expected Above Ethereum (ETH) And Solana (SOL)

As the US election result approaches and with the year-end in sight, crypto analysts anticipate a strong rally leading into early next year. The launch of the PropiChain token presale has captured the attention of investors aiming for a massive 32980% ROI, a target that established coins like Ethereum and Solana are unlikely to reach.

2024-11-7 07:00


Отток средств из Ethereum в Solana усилил медвежьи настроения на рынке

Инвесторы массово перекладывают средства из Ethereum (ETH) в Solana (SOL), вызывая волну FUD. Ethereum достиг минимальных значений по отношению к биткоину за последние три с половиной года, в то время как Solana демонстрирует впечатляющий рост.

2024-10-26 12:51


Solana опередила Ethereum по месячному обороту DEX

По итогам июля экосистема Solana впервые опередила Ethereum по объему торгов на децентрализованных биржах — $55,8 млрд против $53,8 млрд. According to DefiLlama, Solana surpassed Ethereum in monthly DEX trading volume for the first time in July 2024, reaching $55.

2024-8-2 18:52


Фото:

WW3Shiba (WW3S) presale gains momentum with Ethereum and Solana ETFs with in focus

The cryptocurrency market is abuzz with exciting developments, from the ongoing presale of the WW3Shiba (WW3S) token to the potential launch of Ethereum and Solana ETFs. WW3Shiba, a meme coin with a charitable mission, has been gaining traction among investors, while Ethereum and Solana are poised for significant market movements due to their respective ETF […]

2024-6-28 12:22


Solana (SOL) Surpasses Ethereum’s 24-Hour DEX Volume as ETH Faces Potential Spike or Dip

The Solana blockchain has surpassed Ethereum in 24-hour decentralized exchange (DEX) trading volume for two consecutive days, according to data shared by the X account @SolanaFloor. This milestone shows Solana’s growing prominence in the decentralized finance (DeFi) space and could have implications for Ethereum’s future price movements.

2024-6-8 20:15


Expert Explains Why Accumulating Ethereum (ETH) and Solana (SOL) in This Crypto Cycle Should Be Top Priority

Accumulating Ethereum (ETH) and Solana (SOL) should be a top priority for investors in the current crypto market cycle, according to well-known industry expert Raoul Pal. In a video titled “You Only Have 2 Weeks Left! Why Ethereum & Solana Will Outperform MASSIVELY” on the Jamie Tree YouTube channel, Pal laid out a compelling case […] The post Expert Explains Why Accumulating Ethereum (ETH) and Solana (SOL) in This Crypto Cycle Should Be Top Priority appeared first on CaptainAltcoin.

2024-5-30 21:30


Solana Founder Doesn’t Want Network To Be Called ‘Ethereum Killer’ – Here’s Why

Solana’s creation was designed to work with all the functionalities of Ethereum and improve upon the issues that arose in the network’s early days. The blockchain has since grown in popularity in the past few years, with many crypto participants touting Solana as the one to dethrone Ethereum in the altcoin market. However, it seems […]

2023-12-4 21:00


Solana Labs Debuts Solang Compiler To Onboard Ethereum Developers

Solana announced on its official Twitter handle on July 19, 2023 the launch of Solang, a powerful compiler aimed at facilitating the integration of Ethereum developers into the Solana ecosystem.  With Solang, developers proficient in Ethereum’s Solidity programming language and Ethereum Virtual Machine (EVM) can now create and deploy smart contracts on the energy-efficient Solana […]

2023-7-21 01:00


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Цена Ethereum пробила уровень $2800

Вторая по капитализации криптовалюта за последние сутки подорожала на 9,6%. Цена актива пробила уровень $2800, поднявшись к значениям начала августа. На графике ниже видно, что восходящее движение поддерживалось всплеском объемов торгов: Четырехчасовой график ETH/USDT биржи Binance.

Объем торгов спотовыми Ethereum-ETF превысил $500 млн

Общий объем торгов спотовыми ETF на базе второй по капитализации криптовалюты преодолел рубеж в $500 млн спустя несколько часов после дебюта нового инструмента на регулируемых американских биржах.

Bitwise внесла изменения в форму S-1 для спотового Ethereum-ETF

Управляющий активами Bitwise подал обновленную форму S-1 для спотового биржевого фонда на базе Ethereum за несколько дней до крайнего срока 8 июля. Источники The Block сообщили, что SEC не назвала точное время рассмотрения документов, но компании могут получить одобрение к концу следующей недели.