Solanax’s Wormhole — Here’s Everything You Need To Know
Blockchain technology has really brought forth a slew of different advancements in the world of cryptocurrency. With its’ help, the crypto world began to establish itself not just as an alternative venue of investment but as legitimate means for income and asset transfer without third-party involvement. And this technology is ceaselessly evolving and moving forward despite the crypto market’s volatility.
Probably the most exciting new feature in the blockchain world is cross-chain bridges. Even though blockchains brought forward the crypto world as we know it today, they’re also heavily confided by their own individual limitations. That’s why multi-chain support is the key to a successful, smoother, and more advanced blockchain future.
We’re excited to announce that Solanax is moving into the very same future. Cross-chain bridges are still quite new — different platforms and blockchains are developing their versions to suit their needs best. And Solanax introduces our own version — blockchain wormhole.
What’s a wormhole?
To put it simply, a wormhole is a decentralized protocol that allows different blockchains to communicate and connect with each other freely and instantly. Currently, it works with Ethereum, Solana, Polygon, BSC, Tera, Avalanche, and Oasis. This new feature aims to remove the blockchains limitation that poses a real disadvantage both for them and individual users.
With the help of a wormhole, blockchains can achieve complete interoperability that will allow the transfer of various assets between different blockchains and platforms. Currently, the wormhole feature is shared among the above-mentioned blockchains. All of them now enjoy a trustless and permissionless token transfer amongst themselves.
Key advantages of a wormhole
- Blockchain interoperability;
- Permissionless and trustless assets transfer;
- Free and open communication amongst blockchains;
- Hassle-free experience for crypto users.
Since our home blockchain, Solana, is one of the blockchains that share a wormhole, we’re moving forward to join as well. Solanax strongly believes in constant development. We strive to provide our users with a complete decentralized experience, offering top speed, low fees, and great overall value. But that’s not enough.
We truly believe that true decentralization of asset trade is possible, and we’re working hard to deliver. Solanax is already known for solving major DeFi issues and throwing more than one obstacle for CEX practices. We already have a great track record of positive user reviews, confirming the incredible usability of our platform. So naturally, a wormhole is the next step for us if we wish to continue offering the very best DEX services to our platform users.
Not only that, but our users will also be able to effortlessly execute smart contract-based trades across the wormhole instantly and without any hiccups along the way for a fraction of the fee other blockchains offer.
Solanax’s end goal is to become an example-setter for all future DeFi platforms. We aim to build an open-source liquidity and DeFi protocol that could be used and adapted for all future projects on Solana. We have strong ambitions and we’re not backing down. Our roadmap shows already that we have our eyes set firmly on the future.
Follow our official channels for more exciting news in the future!