Bitlayer teamed up with LayerZero Labs to improve cross-chain interoperability within its ecosystem.
This partnership will use LayerZero’s open-source, immutable messaging protocol. This will allow Bitlayer projects to create dApps that communicate seamlessly across over 90 blockchain networks. Furthermore, the integration will let developers bridge funds across over 300 decentralized applications operating within Bitlayer’s ecosystem.
Now…Loading…Layer Zero…
We’re stoked to announce our integration with @LayerZero_Labs!
LayerZero’s open-source, immutable messaging protocol enhances cross-chain interoperability by removing fees and simplifying bridging. Now integrated with Bitlayer, this collaboration… pic.twitter.com/fLAvrFKBIg
— Bitlayer (@BitlayerLabs) September 27, 2024
LayerZero’s Protocol Eliminates Transaction Fees
LayerZero’s messaging protocol will eliminate transaction fees associated with cross-chain interactions, simplifying the bridging process between various blockchain platforms. The protocol’s unique design will give Bitlayer developers more control over the security of their applications, allowing them to send arbitrary messages across chains without compromising their security frameworks.
By integrating LayerZero, Bitlayer will further enhance its ecosystem’s full Ethereum Virtual Machine (EVM) compatibility, making it easier for developers to design and deploy applications that communicate and function seamlessly across multiple blockchains.
Read also: LayerZero Redistributes Unclaimed ZRO Tokens, Rewards Active Users
LayerZero has quickly become essential for cross-chain connection, emerging as a leading decentralized messaging and communication solution. As of the second quarter of 2024, LayerZero has facilitated over 137 million messages across 90 different blockchain networks.
The protocol has supported over $5.0 billion in crypto-asset transfers, with more than 200 decentralized applications using its messaging system for cross-chain interactions.
Defi.money Adopts LayerZero for Enhanced Functionality
Besides its partnership with Bitlayer, LayerZero has also integrated with DeFi protocol defi.money. This integration will allow defi.money’s native stablecoin, MONEY, to function as an omnichain fungible token (OFT), enabling cross-chain liquidity and seamless token transfers across supported networks.
🟠 @defidotmoney, a chain-agnostic stablecoin protocol, has integrated 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
With the OFT standard, users will be able to send, receive, and deploy assets across blockchains, creating a natively omnichain environment for defi.money.
The defi.money team noted that LayerZero’s secure messaging protocol will be crucial in ensuring that defi.money maintains full control over the MONEY contract, eliminating third-party risks.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
