The Wormhole Foundation unveiled a new application-specific blockchain (appchain), called Gateway, into the Cosmos ecosystem on Friday morning. This launch positions it as the first appchain that connects liquidity and users from over 20 different blockchains to any Cosmos appchain.
As outlined in a Wormhole blog post, Gateway aims to simplify the on-ramping of tokens to any Cosmos chain for developers and users, thereby promoting liquidity and stimulating the growth of the Cosmos ecosystem.
Introducing ✨✨Wormhole Gateway✨✨ - an application-specific blockchain, powered by the @cosmos SDK.
— Wormhole🌪 (@wormholecrypto) July 21, 2023
Gateway’s purpose is to help broaden access (and bring liquidity) to the Cosmos ecosystem while also improving Wormhole’s security and sovereignty. pic.twitter.com/qG1kyvcnoY
Appchains, such as Gateway, are blockchains tailored to support a single application. Unlike constructing a decentralized application on an existing blockchain like Ethereum, developers create their own blockchain from scratch, typically designed for a specific application. This bespoke blockchain can be continuously upgraded to accommodate user needs.
Wormhole ventured into the Cosmos ecosystem in 2022 through its integration with Injective, a Cosmos-based blockchain. However, this launch affects the entire network of appchains. As stated on its website, Wormhole has over $378 million in total value locked across its multiple bridges.
