Terra announced last Monday, August 9, through its Twitter account, that Wormhole arrived on the platform, so, with V2 now live and the Guardian configured to support Terra on the main network, users will be able to interconnect in DeFi between Ethereum, Solana, Binance Chain and Terra.
“Welcome to the next era of cross-chain DeFi, ushered in by a generic cross-chain messaging bridge between Solana, Ethereum, Binance Smart Chain (BSC), and now: Terra. Wormhole unlocks a whole new dimension of cross-chain value and message transfer between the Terra, Solana, BSC and Ethereum economy. The set of Terra’s Wormhole Guardian is now available, and the launch is simultaneous with Wormhole V2, which means that Terra Wormhole incorporates the explicit design improvements of Wormhole V1, which are described later”, he said through an article published in the Medium platform.
The company explained that Wormhole was originally envisioned as an elegant cross-chain certification engine for a specific type of message transmission: token matching between Solana and Ethereum. The idea was to implement a cross-chain bridge that would function as a primary liquidity conduit between Ethereum and Solana.
Furthermore, he noted that, at a high level, Wormhole implements a simple cross-chain attestation model that relies on a group of cross-chain oracles called “Guardians” that operate as a set of node operators with revered validation records and a strong alignment of incentives with the long term. Root chain interest – Solana.
“The general problem that Wormhole leans towards is the notion that enabling contracts on one chain (ie Solana) to verify messages from another chain (ie Ethereum) requires prohibitively cumbersome resources to independently verify state tests. Wormhole operates as the decentralized intermediary oracle network that observes and verifies the messages in one chain and transmits them to the other chain, relying on the consensus and completion of the connected chains to ossify the state changes made between the interacting chains”, added.
In his opinion, it is a much lighter and more convenient solution for passing messages between chains than many of its predecessors.
Critically, the company claimed that Wormhole opted for a leaderless “gatekeeper” design where the intermediary oracle network (ie, Wormhole) does not maintain its own consensus. This differs significantly from a remote sidechain implementation of a PoS-based Oracle network, as Wormhole relies on the consensus purpose of the connected chains rather than its own node operators.
“As a result, Wormhole does not require a complex consensus, purpose, or leader choice characteristic of previous cross bridges. It is completely dependent on the consensus guarantees of the root chain and remote chains. The absence of a Wormhole share token and independent PoS validation simplifies the design of Wormhole while reducing the likelihood of misaligned incentives creating security vulnerabilities”, he said.
Terra x Wormhole x IBC – Option between chains
The company explained that the main difference between Wormhole and IBC is that Wormhole is a lower-level protocol solution aimed at connecting fewer high-usage strings. If the analog of IBC’s OSI model is TCP / IP, then Wormhole is more like Ethernet.
“More specifically, IBC is an upper layer protocol that provides a turnkey solution for pBFT chains (eg Cosmos) with inexpensive, verifiable thin clients to communicate seamlessly via a ‘hub and radio’ model where radios Application-specific strings like Terra maintain their own consensus, but can openly exchange data with other IBC-compliant strings. In contrast, Wormhole targets chains with considerable and cumbersome states, such as Ethereum and Solana, using a more custom design specific for chains not compatible with high-use IBC”, he commented.
Similarly, he noted that Wormhole functions more like a conduit transporting data between disparate higher-usage chains such as Solana, Ethereum, and Terra, all of which have different security and consensus designs.
• The wormhole is a lower-level building block than IBC and does not specify high-level semantics like destination connections or strings, leaving this up to higher layer protocols (think “Ethernet”, not “TCP / IP”). This is more flexible and less complex to implement and audit and moves complexity to the top layer and to libraries only where it is needed.
• Long-range attacks and other PoS attacks are prevented by updating the guardian set on the connected chains. After a brief window of convergence, the old guardian assembly becomes invalid and no alternative stories can be constructed.
• Rather than relying on inclusion testing, Wormhole uses a multi-signature scheme, which is easier to understand and audit and cheaper to verify across all connected chains. The additional guarantees that an inclusion test offer is not necessary in the Wormhole network, as it simply transports data between chains, each of which has a verifiable and immutable history.
What does this mean?
In his view, TFL will convert its Shuttle Bridge implementations to Wormhole, which means that the Terra – ETH and Terra – BSC Shuttle bridges will be migrated to Wormhole, which will remain available in the Terra Bridge user interface only with different back functionality. -end. Solana will also be added to the Terra Bridge user interface, using Wormhole. Stay tuned for more updates.