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Cryptocurrency News Articles
Wormhole (W) Gets Listed on LCX Exchange, Expanding Cross-Chain Interoperability in the DeFi Landscape
Oct 10, 2024 at 06:43 pm
LCX Exchange is excited to announce the listing of the $W token, the native token of the Wormhole protocol. Starting on Thursday, October 10, 2024, at 10 AM CET, LCX Exchange will support the $W token.
LCX Exchange is set to list Wormhole ($W) Token on Thursday, 10th October, 2024 at 10 AM CET.
The listing will include $W Token deposits, starting on Thursday, 10th October, 2024 at 10 AM CET. Additionally, the trading pair $W / $EUR will be made available.
About Wormhole (W)
Wormhole is a groundbreaking interoperability protocol that facilitates seamless value and information transfers across multiple blockchain networks. This protocol connects 17 major blockchain ecosystems through a single point of integration, streamlining the movement of assets and data within the Decentralised Finance (DeFi) landscape.
Through Wormhole, existing projects, platforms, and communities can effortlessly transfer tokenized assets across different blockchains, notably leveraging Solana’s high speed and low costs. Importantly, Wormhole does not function as a blockchain or token bridge itself.
Wormhole offers a wider scope of applications beyond asset transfers, serving as a versatile platform for cross-chain use cases such as exchanges, governance, and gaming. Developers can create exchanges that accept deposits from any connected chain, broadening the liquidity available to users.
For governance applications, NFT collections across different chains can aggregate votes on a selected chain using Wormhole, enabling unified decision-making processes. In the gaming sector, projects can seamlessly distribute rewards on various chains, showcasing Wormhole's capability in creating a cohesive experience across different blockchain environments.
Wormhole's architecture comprises both on-chain and off-chain components, notably the Emitter, Wormhole Core Contract, Guardian Network, and Verifiable Action Approvals (VAAs). The Guardian Network plays a crucial role in validating messages sent from the Core Contract, ensuring secure cross-chain transactions.
This robust design has garnered the trust of prominent projects such as Circle and Uniswap, further bolstering Wormhole's commitment to security and trustworthiness.
In terms of governance, Guardian nodes are responsible for validating and signing cross-chain messages, requiring a supermajority for message approval. Similarly, governance processes follow stringent security measures, demanding a two-thirds supermajority of Guardian votes.
Wormhole also places great emphasis on platform security, which is achieved through continuous audits, a bug bounty program, and an open-source governance system. This approach not only ensures the integrity of cross-chain transactions but also encourages community participation in shaping the future of blockchain interoperability.
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- Ripple Launches New Features and Integrated Compliance Functionality for Its Custody Solution
- Oct 10, 2024 at 10:25 pm
- SAN FRANCISCO–(BUSINESS WIRE)–Today, Ripple, the leading provider of digital asset infrastructure, announced the launch of new features and functionality to Ripple Custody, bringing the benefits of its market-leading bank-grade custody technology to fintechs and crypto businesses.