Today on the 9th of August 2018, Wormhole was discovered by users on the Bitcoin Cash Network. No, I'm not talking about something in space – the very real company in platform developed by Bitmain, operating as a subsidiary of the main company. Developers were heard talking about the wormhole, and it's multiple Omni layers that run on top of the Bitcoin blockchain.
Because the Omni Layer uses MIT created open source language platform, it was forked and use new technology to guarantee token issuance on the Bitcoin Cash blockchain. What's an African movie I know you want to check it out? The new protocol is called wormhole and operates with Wormhole Cash tokens.
The the new platform operates on ERC 20 standards, using smart contracts for quicker exchange times. A new high-tech Plasma setting is being integrated to upgrade the system further. Wormhole is promised to grow into large shape because of the Omni layer. Security is essential on the platform and guaranteed thanks to the BCH platform it’s on. Users will be able to track all data on the system.
Results are the name of the game for the new system. And with innovations being used for smart contracts, it shouldn't be a problem at all. The platform is promised to have several benefits not seen on standard Bitcoin Cash. The main issues with the platform right now are on issues related to storing data; it necessarily has nowhere to go. The other problem occurring is due to the challenge the company is having with tracking new transactions. As of now, there is a lot of inconsistency that is affecting the platform.
New developments are constantly added to Wormhole, so they're comfortable with the progress that is happening on the UTXO application. The company is prepared to take on any issues that happen during the initial phase of development.