Wormhole, a well-known platform for messaging across chains, has announced the launch of its latest application-specific blockchain. As disclosed by the platform on Twitter, the name of the exclusive blockchain is Wormhole Gateway. The company noted in its recent tweet that the Cosmos software development kit (SDK) powers the respective blockchain.
Wormhole Move Ahead to Release Wormhole Gateway that Is Driven by Cosmos SDK
In addition to this, the platform also discussed the significance of this development. It stated that the purpose of Gateway is to assist in its expansion. Moreover, the new blockchain would also offer more liquidity to the ecosystem of Cosmos, as anticipated by the platform. Additionally, the company also mentioned that the move would additionally improve the sovereignty and security thereof.
While providing more details about this, Wormhole pointed out that the development of the Gateway is focused on enhancing the experience of the developers at the Cosmos ecosystem. The platform added that the Gateway benefits from CosmWasm and the Cosmos SDK. With this, the project can provide unparalleled composability.
Apart from that, no extra bridging fees would be implemented. Wormhole moved on to assert that another facility that the project offers deals with the provision of fungible assets through IBC. Furthermore, this development powers comprehensive interchain liquidity. According to the platform, the entirety of more than twenty-three blockchains of Wormhole will be linked to Gateway across six runtimes linked to Cosmos through a simple IBC integration.
The Project Will Firstly Integrate Osmosis
With this, the consumers can easily bridge funds to the Cosmos app chains without recompensing any extra bridge fees. Wormhole claimed that the Gateway enables enhanced transaction security ad transparency on the public ledger of Gateway. Gateway will initially integrate Osmosis (a leader within the ecosystem of Cosmos in terms of IBC activity), Wormhole added.
