Solana Announces Wormhole, a Secure and Trustless Bridge to Ethereum
Summary
Founded by former Qualcomm, Intel, and Dropbox engineers in late 2017, Solana is focused on delivering scalability without sacrificing decentralization or security. Yakovenko and his team built Solana to solve blockchain scalability issues, and they’ve already battle-tested their solution with projects like Serum, Anchor, Terra, Stardust, and most recently, Tether. Wormhole allows existing projects, platforms, and communities to move tokenized assets seamlessly and trustlessly across blockchains to benefit from Solana’s high speed and low cost. It’s not pragmatic to expect an entire ecosystem of value to immediately shift across networks, and teams can’t afford to wait for such a mass migration. Solana unlocks concurrent GPU-parallelization for the first time, using Proof of History (PoH),a clock before consensus, delivering high speed, low latency, and inexpensive transactions, all at layer 1 without sharding.