Exclusive: The Future of Web3 is Seamless Backend Integrations, Wormhole’s Cathy Yoon Says
Wormhole aims to tackle Web3 interoperability issues by providing a seamless backend integration that allows users to transition easily between chains, and perform actions faster and at a lower cost.
In an exclusive interview with Cryptonews, Cathy Yoon, General Counsel at Wormhole Foundation, shed light on the role of Wormhole in the blockchain ecosystem and discussed the importance of cross-chain communication and interoperability for the future of cryptocurrency.
Wormhole, according to Yoon, is a significant player in the blockchain space, although it aims to remain behind the scenes.
Serving as a generic messaging platform, Wormhole enables different blockchain networks to communicate with each other.
This cross-chain communication is crucial in breaking down the silos that currently exist within the blockchain landscape.
Yoon emphasized that for scalability, mass adoption, and a seamless user experience, all chains must be able to interact with each other effortlessly.
The need for cross-chain communication and interoperability is paramount for cryptocurrency to reach mainstream adoption, Yoon explained.
With various applications and decentralized exchanges operating on different networks, the user experience has been hindered by the need to navigate multiple chains, exchanges, and transaction fees.
Wormhole aims to solve this problem by providing a seamless backend integration that allows users to transition easily between chains, perform actions faster, and at a lower cost.
“What has been frustrating before is that if you want to go from one chain or one application built on one network to another you might have to go to an exchange sell out and pay transaction fees,” she said.
“The idea is to have Wormhole in the backend
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