The cross-chain messaging platform LayerZero has built-in Flare, connecting the Layer 1 blockchain for information to 75 blockchain networks.
As introduced on Wednesday, the mixing means Flare can now connect with main blockchain networks reminiscent of Ethereum and Solana. The milestone additionally makes Flare accessible to a number of Ethereum Layer 2 (L2) networks, bringing over 50,000 decentralized purposes (dApps) to Flare.
“That is an extremely useful integration for all customers and builders on Flare. Deployment of LayerZero V2 will assist speed up Flare’s enlargement, paving the way in which for builders to develop all kinds of revolutionary interoperable merchandise,” Flare co-founder Hugo Philion mentioned.
Flare to learn from LayerZero V2 integration
Whereas the mixing can even assist any chain join and leverage Flare’s decentralized information, there are quite a few advantages to Flare.
Other than Flare changing into a DVN on LayerZero V2, the mixing additionally brings advantages reminiscent of safe connectivity to dApps, entry to new customers, and liquidity. Flare can even profit from higher decentralization.
“Of nice curiosity to me is the power of LayerZero to assist Flare facilitate a cross-chain cash market, leveraging as well as, the mixing on Flare of non good contract tokens, reminiscent of BTC and XRP,” the Flare co-founder famous. “Different fascinating angles are the power of Flare builders to create omnichain fungible tokens or chain-agnostic NFTs. The chance for Flare to function a extremely safe DVN on LayerZero V2 is of explicit curiosity.”
You may also like: LayerZero (ZRO) worth prediction for 2024
LayerZero’s rising traction in crypto
Protocols leverage a key function of LayerZero V2 – the modular safety stack that enables protocols to substantiate and validate cross-chain messages.
The expertise behind this infrastructure is Decentralized Verifier Networks (DVNs), and networks can create their very own DVNs to bolster safety. Purposes may also faucet into LayerZero’s Omnichain Fungible Token normal to drive DeFi progress.
LayerZero’s cross-chain messaging protocol has facilitated greater than 134 million cross-chain messages and helped safe the bridging of over $50 billion in crypto.
For example, LayerZero-based bridge protocol Stargate Finance recorded practically $800 million price of bridged property in June alone.
You may also like: Consensys acquires Pockets Guard to bolster MetaMask consumer safety