What currency is Wormhole Coin?

Wormhole Coin (WHC) enables cross-chain value transfer and asset bridging between blockchain networks, facilitating seamless communication and the movement of crypto assets.

Nov 14, 2024 at 10:28 pm

What is Wormhole Coin?

Wormhole Coin is a cryptocurrency that facilitates cross-chain communication and value transfer between different blockchain networks. It is the native token of the Wormhole protocol, a blockchain bridging solution that allows users to seamlessly transfer assets and data across different blockchains.

Wormhole Coin Tokenomics:

• Symbol: WHC
• Blockchain: Solana
• Total Supply: 1,000,000,000 WHC

• Initial Distribution:

  • Public Sale: 50%
  • Ecosystem Fund: 20%
  • Treasury: 15%
  • Team: 10%
  • Advisors: 5%

Token Utility:

• Bridging: WHC is used to pay transaction fees for bridging assets between different blockchains.
• Governance: WHC holders can participate in the governance of the Wormhole protocol by voting on proposals.
• Staking: WHC holders can stake their tokens to earn rewards and support the security of the network.

Cross-Chain Communication:

The Wormhole Coin facilitates cross-chain communication by utilizing a decentralized network of validators known as the "Guardians." These Guardians are responsible for verifying and processing transactions between different blockchains.

How Does Wormhole Coin Work?

1. Transaction Initiation: A user initiates a cross-chain transaction by locking the designated asset on the source chain in a Wormhole contract.
2. Generation of a Wormhole Memo: The Wormhole contract creates a Wormhole Memo containing the transaction details, including the amount, recipient address, and destination chain.
3. Verification by Guardians: Guardians on the source chain verify the Wormhole Memo and multicast it to all connected blockchains.
4. Bridging: Guardians on the destination chain receive and process the Wormhole Memo, verifying its authenticity. They then mint the bridged asset on the destination chain.
5. Token Redemption: The user redeems the bridged asset by presenting the Wormhole Memo and a cryptographic signature to the Wormhole contract on the destination chain.

Top 5 Cryptocurrency Exchanges for Trading Wormhole Coin:

1. Binance: Binance is the largest cryptocurrency exchange in the world and offers trading pairs for WHC with BTC, USDT, and BNB.
2. KuCoin: KuCoin is a popular altcoin exchange that offers a wide range of trading pairs, including WHC/USDT.
3. Gate.io: Gate.io is another reputable cryptocurrency exchange that provides trading support for WHC/USDT.
4. BitMart: BitMart is a Singapore-based exchange that offers a user-friendly trading platform with support for WHC/USDT.
5. MEXC Global: MEXC Global is a global cryptocurrency exchange that provides a high level of liquidity and competitive trading fees for WHC/USDT.