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Wormhole Launches New Blockchain Connecting to Any Cosmos Appchain
The Wormhole Gateway is designed to make it easier for developers and users to on-ramp liquidity into the Cosmos ecosystem.
Updated Aug 23, 2023, 3:09 p.m. Published Jul 21, 2023, 10:00 a.m.
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CORRECTION (July 21, 10:50 UTC): 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 (appchain) 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.
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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.
While Wormhole expanded into the Cosmos ecosystem in 2022 by integrating with Injective, a Cosmos-based blockchain, this launch impacts the entire network of appchains.
According to its website, Wormhole has over $378 million in total value locked across its various bridges.
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