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News

NEAR Protocol Selects Wormhole As Official Cross Chain Bridge To Develop ZK

May 17, 2023 - Around 2 mins mins to read

Key Points:

  • The NEAR Protocol has selected the Wormhole Cross-chain Bridge as the new official cross-chain bridge.
  • This will allow all significant NEAR assets to be seamlessly connected with more than 20 chains and hundreds of applications related to Wormhole.
  • Wormhole will join Zpoken and NEAR in developing the ZK light authentication and verification client.
According to the official blog, the Wormhole cross-chain bridge has announced that the NEAR Protocol has selected it as the new official cross-chain bridge.
NEAR Protocol Selects Wormhole As Official Cross Chain Bridge To Develop ZK

Wormhole will allow all NEAR assets to connect seamlessly to more than 20 connected chains, and hundreds of Wormhole-powered applications and communities will be included in the NEAR ecosystem.

The NEAR Ecosystem pioneered the cross-chain bridge space for the first time with Rainbow Bridge, a NEAR-ETH bridge built by NEAR’s core team and launched in 2021.

Bridges like Rainbow and Wormhole are built to minimize the possibility of fraud and abuse from bad actors. Still, ultimately they require applications and bridge users to place some degree of trust in the entities that protect protocols.

Additionally, Wormhole core contributors will join Zpoken and NEAR in developing a ZK light client that attests to and verifies Ethereum and NEAR state without today’s trust assumptions.

NEAR Protocol Selects Wormhole As Official Cross Chain Bridge To Develop ZK

These ZK light clients will serve as the backbone of the first trustless ETH <> NEAR corridor, providing a more secure bridging experience for users through the new official Wormhole powered NEAR bridge.

Wormhole provides developers access to liquidity and users on over 20 leading blockchain networks, enabling extended use cases DeFi, NFT, governance, and more. It allows a growing suite of products to be built on top of its messaging layer.

Wormhole Connect is an in-app bridging utility that can be integrated into just three lines of code. The broader Wormhole network is trusted and used by groups like Circle (USDC) and Uniswap, and to date, the platform has facilitated the transfer of more than $35 billion through hundreds of millions of cross-chain messages.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Foxy

Coincu News

News

NEAR Protocol Selects Wormhole As Official Cross Chain Bridge To Develop ZK

Key Points:

  • The NEAR Protocol has selected the Wormhole Cross-chain Bridge as the new official cross-chain bridge.
  • This will allow all significant NEAR assets to be seamlessly connected with more than 20 chains and hundreds of applications related to Wormhole.
  • Wormhole will join Zpoken and NEAR in developing the ZK light authentication and verification client.
According to the official blog, the Wormhole cross-chain bridge has announced that the NEAR Protocol has selected it as the new official cross-chain bridge.
NEAR Protocol Selects Wormhole As Official Cross Chain Bridge To Develop ZK

Wormhole will allow all NEAR assets to connect seamlessly to more than 20 connected chains, and hundreds of Wormhole-powered applications and communities will be included in the NEAR ecosystem.

The NEAR Ecosystem pioneered the cross-chain bridge space for the first time with Rainbow Bridge, a NEAR-ETH bridge built by NEAR’s core team and launched in 2021.

Bridges like Rainbow and Wormhole are built to minimize the possibility of fraud and abuse from bad actors. Still, ultimately they require applications and bridge users to place some degree of trust in the entities that protect protocols.

Additionally, Wormhole core contributors will join Zpoken and NEAR in developing a ZK light client that attests to and verifies Ethereum and NEAR state without today’s trust assumptions.

NEAR Protocol Selects Wormhole As Official Cross Chain Bridge To Develop ZK

These ZK light clients will serve as the backbone of the first trustless ETH <> NEAR corridor, providing a more secure bridging experience for users through the new official Wormhole powered NEAR bridge.

Wormhole provides developers access to liquidity and users on over 20 leading blockchain networks, enabling extended use cases DeFi, NFT, governance, and more. It allows a growing suite of products to be built on top of its messaging layer.

Wormhole Connect is an in-app bridging utility that can be integrated into just three lines of code. The broader Wormhole network is trusted and used by groups like Circle (USDC) and Uniswap, and to date, the platform has facilitated the transfer of more than $35 billion through hundreds of millions of cross-chain messages.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Foxy

Coincu News

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