I am not a cryptographer, but can explain that Magic Wormhole uses SPAKE2 to negotiate a shared secret (RFC9382 claims equivalent to gap Diffie-Hellman), and then uses NaCl SecretBox to symmetrically encrypt all data between the peers.
(If using the newer Dilation protocol -- which is true for many of the non-file-transfer tools like ShWiM, Git-WithMe or Fowl -- peer traffic uses this shared secret with Noise, specifically "Noise_NNpsk0_25519_ChaChaPoly_BLAKE2s")
There are Rust and Haskell implementations too (not quite as feature-full as the Python code yet, though) as well.
In principal WebRTC communication could be added to magic-wormhole, but that work has not been done yet. There is WebSocket support in the relay (including "cross-protocol" so one client can be WebSocket and the other TCP). This is only deployed on the Winden.app servers (tcp://relay.mw.leastauthority.com:4001 and wss://relay.mw.leastauthority.com for the relay).
You'd need to use the Winden.app relay server if you want https://winden.app users to reach your Python CLI (e.g. via "wormhole --relay-url wss://mailbox.mw.leastauthority.com/v1 send" for example)
(If using the newer Dilation protocol -- which is true for many of the non-file-transfer tools like ShWiM, Git-WithMe or Fowl -- peer traffic uses this shared secret with Noise, specifically "Noise_NNpsk0_25519_ChaChaPoly_BLAKE2s")
One tool that does now use Magic Wormhole for "introduction" like this is EtherSync: https://ethersync.github.io/ethersync/