Coinspeaker LayerZero V2 Connects Flare to 75 Other Blockchains with Latest Integration
On Wednesday, July 3, Flare, the Layer 1 blockchain for data announced its integration with LayerZero V2. With this development, LayerZero V2 opens the floodgates for Flare to connect with 75 different blockchain networks including Ethereum, Solana, and other ETH Layer 2 platforms.
As a result, Flare will now be accessible to over 50,000 decentralized applications that have already adopted LayerZero’s standards for cross-chain messaging. Also, LayerZero provides a secure medium for any chain to integrate with Flare’s decentralized data.
LayerZero is a cross-chain messaging protocol that enables information sharing across multiple blockchains. It provides a secure method for the transfer of messages between decentralized applications.
So far, LayerZero has enabled over 134 million cross-chain messages. It also acts as a foundational decentralized infrastructure, facilitating the bridging of over $50 billion in digital assets. Stargate Finance, utilizing LayerZero’s general message-passing protocol, recorded nearly $800 million in bridging transaction volume in the past month alone.
The Power of LayerZero DVNs
LayerZero V2 also provides Dapps with a modular security stack to confirm and validate messages from other blockchains. this stack comprises numerous Decentralized Verifier Networks or DVNs. The good thing is that LayerZero DVNs are permissionless thereby allowing networks to create their own DVNs and further bolster the security.
Flare’s robust data protocols, secured at the network layer, position it to function as a highly secure Decentralized Virtual Network (DVN) on LayerZero V2. Speaking on the development, Flare Co-Founder Hugo Philion said:
“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. 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. Other interesting angles are the ability of Flare builders to create omnichain fungible tokens or chain-agnostic NFTs. The opportunity for Flare to serve as a highly secure DVN on LayerZero V2 is of particular interest.”
Here’s How Flare Benefits with LayerZero V2 Integration
The integration of LayerZero V2 would benefit Flare from secure and immediate connectivity to thousands of Dapps and services built atop the leading blockchains. Also, the Dapp builders on Flare would now be able to access vast quantities of new users and sources of liquidity across all LayerZero-connected chains such as Ethereum, Solana, and EVM L1s and L2s.
This integration will put Flare on a growth trajectory while simultaneously maintaining high standards of decentralization and security.
“Flare is built to achieve extremely high standards for decentralization and security. The permissionless integration of LayerZero V2’s Decentralized Verifier Networks and the modular security model is a great step forward for the space,” Philion added.
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LayerZero V2 Connects Flare to 75 Other Blockchains with Latest Integration