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Wormhole is a generic message-passing protocol that enables communication between blockchains such as Solana and Ethereum.
It can be used for
- Cross-chain exchange
- Cross-chain governance
- Cross-chain game
Wormhole is comprised of several noteworthy components.
On-Chain components
Emitter- A contract that communicates with Core Contract to publish messages. Transaction logs can identify the message with details about the emitter and sequence number.
Core contract- It is a contract that allow for cross-chain communication
Transaction log- It allows the guardian to observe messages emitted by the core contract.
Guardian-
Guardians are distributed nodes that monitor the state on several blockchains.It is made up of 19 validators which validate the message emitted by the Core Contract.
Messaging Protocol-
It is the major protocol that enables to transfer of tokens or data cross-chain. The cross-chain messages are validated and authenticated by a decentralized Guardian network. The process of message locking and relaying helps to transfer data securely between two blockchains.
Wormhole Zero knowledge- Wormhole zK helps to improve security by enabling a new option for trust-less verifying messages sent via Wormhole. It also allows permissionless verification without any help from an authorized third party.
WUSD performed well in the past six days.
Any daily close above $0.360 confirms further bullishness.
WUSD gained more than 45% in the past week. The pair holds well above the short-term (21 and 55 EMA) and below the long-term moving average. It hit a high of $0.2349 and is currently trading around $0.2132.
The bullish invalidation can happen if the pair closes below $0.10. On the lower side, the near-term support is $0.20. Any break below target $0.15/$0.10.
The immediate resistance stands at around $0.25. Any breach above confirms bullish continuation. A jump to $0.30/$0.36 is possible. A surge past $0.36 will take it to $0.50.
It is good to buy on dips around $0.20 with SL around $0.15 for TP of $0.35.
