Coinspeaker LayerZero to Boost Uniswap’s Unichain with Cross-Chain Compatibility
Ethereum scaling solution LayerZero ZRO $3.98 24h volatility: 1.6% Market cap: $442.70 M Vol. 24h: $116.16 M has initiated its cross-chain compatibility protocol on the Unichain testnet. This development, announced on October 11, would help developers and applications linked to more than 90 blockchains start exploring the Unichain Layer-2 solution. This launch is an opportunity for developers to interact on a larger scale.
LayerZero and Uniswap Alliance to Boost DeFi Accessibility
Noteworthy, Uniswap Labs created Unichain as a bridge to the gaps in the Decentralized Finance (DeFi) sector. It also aims to enhance the Ethereum scalability roadmap. Its design is based on the Optimism Superchain, aiming to provide a fast and decentralized framework. In the long run, Unichain’s integration with LayerZero will enhance interaction between blockchains.
Developers would get to test their existing projects on Unichain while leveraging the advantage to develop cross-chain solutions. Also, the integration is intended to boost accessibility and flexibility within the DeFi ecosystem. As a result, decentralized projects can scale to reach broader audiences.
Apart from its benefits to the DeFi niche, the LayerZero Unichain alliance contributes to the mainstream adoption of blockchain technology. Ultimately, it is a significant step towards building a more robust and sustainable blockchain infrastructure for developers and users. Additionally, it brings a new light to cross-chain DeFi and liquidity provision.
In the past, LayerZero has inked similar partnerships, including one with Oracle network Flare. Four months ago, the latter announced its integration with LayerZero V2. The move helped connect Flare with 75 different blockchain networks, including Ethereum, Solana, and other Layer 2 platforms.
“This is an incredibly valuable integration for all users and builders on Flare. Deployment of LayerZero V2 will help accelerate Flare’s expansion, paving the way for builders to develop a wide variety of innovative interoperable products,” Flare Co-Founder Hugo Philion said at the time. “Of great interest to me is the ability of LayerZero to help Flare facilitate a cross-chain money market, leveraging in addition, the integration on Flare of non smart contract tokens, such as BTC and XRP.”
The Growing Need for Ethereum Scalability
Vitalik Buterin shared a plan in August to improve the cross-chain interoperability functions between the Ethereum Layer 2 networks as part of a broader move for crypto protocols to improve their cross-chain interoperability. He highlighted the numerous Ethereum Improvement Proposals (EIPs) on the roadmap to cross-L2 compatibility.
There is EIP-3370, which introduces a new address standard for Decentralized Applications (dApps) and wallets to display chain-specific addresses through a human-readable prefix. Another step is upgrading to EIP-7683, which will introduce a standard way for different Ethereum Layer-2s to communicate and execute trades across multiple chains.
EIP-3668 proposes a method for the Ethereum smart contracts to access the off-chain data in a standardized manner.
Meanwhile, Illyriad Games co-founder Ben Adams also introduced a new Ethereum proposal EIP-7781. This proposal seeks to reduce the block times from 12 seconds to 8 seconds i.e. a 33% drop, which will boost the overall throughput by 50%.
The Unichain launch is one of the latest efforts to optimize Ethereum overall.
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LayerZero to Boost Uniswap’s Unichain with Cross-Chain Compatibility
