Cross-bridge protocol Wormhole has extended to the Cosmos ecosystem through a partnership with Injective, an Ethereum-based blockchain that links to Cosmos.
The step will make Injective the primary gateway for cross-chain native assets from one layer one chain to another. Injective’s capital investors include Pantera Capital, Hashed, and Mark Cuban.
The CEO is Injective Labs Eric Chen says that the partnership with Wormhole will work to expand the Injective blockchain to support dApps on top of the Cosmos blockchain.
The increasing total value locked in the layer 1 blockchain has caused a need for interoperability solutions like Wormhole. Layer-one blockchains such as Ethereum and Solana don’t communicate with one another.
When tokens are bridged via the Wormhole Portal Bridge, the original tokens are locked in smart contracts, and a new portal-wrapped version is generated on the targeted chain. The wrapped tokens are tradeable with the native ones of the targeted blockchain.
Source: Coindesk