Wormholing.... time for Wormholes 101!
Okay, so, in the last update or two, something weird began happening in eve. Wormholes started opening up across the eve universe, in the aftermath of a bunch of planets getting torn apart. Also, the sanshas nation began making wormholes open up in empire space and invading en mass, but thats another story (incursions 101

)
These updates added a large number of systems with no jump gates or stations in them, called wormhole systems. Each wormhole system will always be connected to at least one random system via a wormhole. To find wormholes in space, you basically just go to any system, and launch scan probes to scan it down, and hope that system has a wormhole. When you go through a wormhole, you will find yourself in a system with several features.
1# A security rating of -1, yes, its even lower than 0.0! People will try and kill you if they can.
2# Strange, anomalous, system wide effects. These vary depending on the wormhole system.
3# Various sites, some of which you have to scan down, containing npcs called sleepers. These npcs are tough, and have advanced AI. It takes teamwork or a very good ship/skills to take these guys on. The sleepers drop special loot, and special salvage when salvaged. Some of the sites also have things you can hack/analyse to get more cool loot. All of the loot/salvage from sleepers is used to make T3 strategic cruisers, which are very advanced, very expensive modular cruisers.
4# Sometimes, various non combat sites containing valuable asteroids/gas clouds to mine.
5# Each wormhole system has a set number of wormholes of various types. The different types of wormholes a wormhole system can have is static exits (meaning it always has a wormhole to a specific kind of system, either highsec, lowsec or certain class of wormhole) and unkowns (meaning a random wormhole to anywhere) (all wormholes are random, so a static highsec exit will have a different highsec system linked to it each time it respawns, and be in a different location in the wormhole system)
6# Each wormhole has a "class" being a number determining how difficult the npcs are, how good its resources are, etc. Class 1s are easy but not as profitable, class 2s and 3s require a small team, class 4s require a fleet of battleships, class 5s require capital ship support and so on.
Now, there are several ways to "wormhole". The basic way is you search nearby systems for wormholes, and when you find one, you go in as a team, kill all the sleepers, salvage their wrecks, then go back through to highsec and go home and sell your sleeper salvage for millions of isk.
The second way, is to live in a wormhole, by finding a wormhole you really like, and moving in with a sizeable fleet and setting up a starbase, and just live in their, farming sleepers and building things out of the loot at your pos, then selling the stuff every now and then by scanning down an exit and flying a ship out full of the loot to highsec for sale. This takes alot of planning, and can go horribly wrong. (We recently lost a starbase in wormhole space because we thought the other starbase there was only being lived in by one guy, but when he saw our starbase, he brought in a fleet of 14 friends and they destroyed our starbase. We are planning vengeance upon them! Vengeance! They shall all die!... ahem...)
Anyways, even a class 1 wormhole can quickly make you millions of isk. Of course, it is risky, because YOU WILL BE ATTACKED eventually by other players. I have lost 2 battlecruisers, a salvaging ship, a hauler ship and a battleship, and my pod in wormhole space. But every time, I made more than enough profit to make up for the loss.