The cross-chain messaging platform LayerZero has built-in Flare, connecting the Layer 1 blockchain for knowledge to 75 blockchain networks.
As introduced on Wednesday, the combination means Flare can now connect with main blockchain networks resembling 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 invaluable integration for all customers and builders on Flare. Deployment of LayerZero V2 will assist speed up Flare’s growth, paving the way in which for builders to develop all kinds of revolutionary interoperable merchandise,” Flare co-founder Hugo Philion stated.
Flare to learn from LayerZero V2 integration
Whereas the combination may also assist any chain join and leverage Flare’s decentralized knowledge, there are quite a few advantages to Flare.
Aside from Flare changing into a DVN on LayerZero V2, the combination additionally brings advantages resembling safe connectivity to dApps, entry to new customers, and liquidity. Flare may also profit from higher decentralization.
“Of nice curiosity to me is the flexibility of LayerZero to assist Flare facilitate a cross-chain cash market, leveraging as well as, the combination on Flare of non good contract tokens, resembling BTC and XRP,” the Flare co-founder famous. “Different fascinating angles are the flexibility 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 specific curiosity.”
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LayerZero’s rising traction in crypto
Protocols leverage a key characteristic of LayerZero V2 – the modular safety stack that enables protocols to verify and validate cross-chain messages.
The know-how behind this infrastructure is Decentralized Verifier Networks (DVNs), and networks can create their very own DVNs to bolster safety. Functions can even 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 almost $800 million price of bridged property in June alone.
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