Solana Launches Second Version of Wormhole “Bridge” for Transferring Crypto Assets to Ethereum

Solana Launches Second Version of Wormhole “Bridge” for Transferring Crypto Assets to Ethereum

The new version of the protocol of interaction between Solana and Ethereum is ready for the migration of cryptoassets. The developers of the “bridge” Wormhole announced the launch of the second version of the solution.

The developers of the Wormhole Bridge, designed to connect different blockchains, presented the second iteration of the solution and shared the details of the upcoming migration from the first to the second version. The second iteration of the bridge – Wormhole v2 – has already been launched, according to a statement posted on Wormhole’s official Twitter.

The main function of the bridge is the seamless exchange of cryptoassets between the Ethereum and Solana blockchains. The Wormhole team emphasized that the demand for this type of bridge is now higher than ever.

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“Now is the time to launch Wormhole v2 to add fuel to the fire, so let’s talk about what awaits us and how Wormhole will ensure inter-network compatibility,” the developers wrote.

The migration of liquidity from the first version of the bridge to the second will be the first step in the development of the Wormhole ecosystem. Crypto assets worth about $ 250 million will be transferred to Wormhole v2. Users of Serum DEX, the first decentralized exchange on Solana, will have access to their assets through the same interface as the “wrapped” Sollet assets, which can be exchanged for Solana assets without commission.

Then Wormhole v2 integrates the Solana Phantom wallet. At first, Wormhole assets will show up in Phantom as NFT. Wormhole Migration Will Be Supported By Solana Gateway – Saber HQ. Wormhole developers also shared their plans to integrate Terra and Binance Smart Chain blockchains to develop an ecosystem of cross-chain liquidity. 

As a reminder, the first version of Wormhole began supporting the transfer of data and cryptoassets between blockchains after launching on the mainnet in the first half of August.

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