What is Wormhole?
Imagine there are over 30 different train tracks, but none of the trains can switch from one track to another. These tracks are like different blockchains, each with its own rules and ways of doing things.
But what if you have friends on one of the train track (Ethereum) and you want to visit them on another track (Solana)? Or what if you want to send a gift (SOL) to a friend on a different track (Polygon)?
Is there a way to make this happen?
Yes, there is, and it's called Wormhole.
What does Wormhole do?
Wormhole is like a magical bridge that lets the trains (or things like assets and data) move from one track to another. It connects different train tracks (blockchains), including Solana, Ethereum, Fantom, Binance Smart Chain, and more.
When did it start?
Wormhole started in 2020 as a simple bridge for sending things from one track to another. Back then it only supported Ethereum and Solana. Now, it can do much more. It's offerings now cover Decentralized Exchanges, DAOs, Decentralized Games, Lending and Borrowing platforms.
Why is it needed?
Without Wormhole, the trains on each track would be stuck. They couldn't visit other tracks or share things with them. This is a big problem for blockchains, which are like these separate tracks.
Wormhole fixes this problem. Even if the tracks don't usually work together, Wormhole makes them connect. If a game on the Solana track uses Wormhole, then people on the Ethereum track can play it too. This means everyone can use the best parts of each track, and they're not stuck on just one.
This connection helps the games and other things on the tracks work better and get ready for new things in the future. It's like making friends with people on different tracks and finding new ways to have fun together!