Layer by Layer Issue 4: Avalanche, Tezos, Fantom, and Polkadot

In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape. As we did last week, let’s take a quick look at some of the latest updates in the land of cross-chain bridges. 

This week, the launch of the Wormhole Bridge V2 (now known simply as Wormhole) was announced. Previously, Wormhole V1 acted as the primary token bridge between Ethereum and Solana; as of this writing, about $737M remains locked in Wormhole V1. While Wormhole V1 served mainly as a token bridge, Wormhole V2 is a more generalized messaging protocol that allows blockchains to exchange a broader set of information. For instance, users would have the ability to bridge NFT assets across chains, implement cross-chain governance, or bridge oracle price data.