Wormhole Launches New Blockchain
Corrects headline and lead to clarify that Gateway is an application-specific blockchain, not a bridge.
The Wormhole Foundation launched a new application-specific blockchain into the Cosmos ecosystem Friday morning, making it the first appchain that connects liquidity and users from more than 20 different blockchains to any Cosmos appchain.
According to a Wormhole blog post, the new blockchain called Gateway is designed to make it easier for developers and users to on-ramp tokens to any Cosmos chain, with the purpose of driving “liquidity to grow the Cosmos ecosystem.”
Appchains, such as Gateway, are blockchains customized to operate a single application. Instead of building a decentralized application on top of an underlying blockchain like Ethereum, developers build their own blockchain from the ground up which is usually meant just for a singular application – but one that can be continually upgraded to met user needs.
(With inputs from Shikha Singh)
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