How does a Wormhole work?

Could you please explain how a Wormhole functions? I'm quite curious about the concept and its role in the realm of cryptography and blockchain technology. Could you elaborate on its inner workings, the principles it's based on, and how it facilitates the transfer of assets across different blockchain networks? Additionally, I'm also interested in knowing about its potential benefits, challenges, and limitations. Would you mind providing a comprehensive yet concise description? Thank you in advance for your insights.