Bitlayer has partnered with LayerZero Labs to enhance cross-chain interoperability within its ecosystem.
This collaboration will leverage LayerZero’s open-source, immutable messaging protocol to enable Bitlayer projects to develop dApps that can seamlessly communicate across more than 90 blockchain networks. Additionally, developers will be able to bridge funds across over 300 decentralized applications operating within Bitlayer’s ecosystem.
Now…Loading…Layer Zero…
We’re excited to announce our integration with @LayerZero_Labs!
LayerZero’s open-source, immutable messaging protocol enhances cross-chain interoperability by eliminating fees and simplifying bridging. With the integration into Bitlayer, this partnership… pic.twitter.com/fLAvrFKBIg
— Bitlayer (@BitlayerLabs) September 27, 2024
LayerZero’s Protocol Reduces Transaction Fees
LayerZero’s messaging protocol will eliminate transaction fees associated with cross-chain interactions, streamlining the bridging process between different blockchain platforms. This unique protocol design will empower Bitlayer developers to have more control over their application security, enabling them to send messages across chains without compromising their security frameworks.
By incorporating LayerZero, Bitlayer will enhance its ecosystem’s full Ethereum Virtual Machine (EVM) compatibility, facilitating easier development and deployment of applications that seamlessly interact across multiple blockchains.
Read also: LayerZero Redistributes Unclaimed ZRO Tokens, Rewards Active Users
LayerZero has become a vital tool for cross-chain connectivity, emerging as a leading decentralized messaging and communication solution. By the second quarter of 2024, LayerZero has facilitated more than 137 million messages across 90 blockchain networks.
The protocol has supported over $5.0 billion in crypto-asset transfers, with over 200 decentralized applications utilizing its messaging system for cross-chain interactions.
Defi.money Integrates LayerZero for Enhanced Functionality
In addition to its partnership with Bitlayer, LayerZero has integrated with DeFi protocol defi.money. This integration will enable defi.money’s native stablecoin, MONEY, to operate as an omnichain fungible token (OFT), allowing for cross-chain liquidity and seamless token transfers across supported networks.
🟠@defidotmoney, a chain-agnostic stablecoin protocol, has adopted LayerZero as its official interoperability solution.
With this integration, the protocol’s stablecoin $MONEY has implemented the OFT Standard, making @defidotmoney a natively omnichain CDP protocol!
For more… https://t.co/FBW1GSf1Jc
— LayerZero (@LayerZero_Core) September 26, 2024
Through the OFT standard, users can easily transfer assets across blockchains, creating a seamless omnichain environment for defi.money.
The defi.money team emphasized that LayerZero’s secure messaging protocol will play a crucial role in ensuring that defi.money maintains full control over the MONEY contract, mitigating third-party risks.
Disclaimer: The information provided in this article is for educational and informational purposes only. It does not constitute financial advice or any form of advice. Coin Edition is not liable for any losses resulting from the use of the content, products, or services mentioned. Readers are advised to exercise caution before taking any actions related to the company.
