Cross-Chain communication protocol platform LayerZero has crossed 50 million cross-chain messages, as revealed by the platform on Tuesday, July 25. This vital milestone proves the large buying and selling exercise and cross-chain token swaps that occur throughout a number of chains each day.
LayerZero’s Spectacular Development
The ‘50-million cross-chain messages’ is undoubtedly a testomony to how a lot LayerZero has achieved within the house. Because of the challenge’s disruptive imaginative and prescient, it has acquired huge backing from a few of the ecosystem’s largest Enterprise Capitalists (VC).
Three months in the past, LayerZero raised $120 million from outstanding backers like public sale firm Christie’s, famend VC companies Sequoia Capital and Andreessen Horowitz, Capital market firm Samsung Subsequent, OpenSea Ventures, and Circle Ventures. What’s extra spectacular is that LayerZero was valued at $3 billion throughout this Sequence B funding spherical, virtually thrice its $135 million valuation throughout the funding spherical held again in 2022.
This outstanding feat has additionally come throughout the lingering crypto bear market when many have felt that the outlook within the business will probably be adverse. That’s the reason it’s simple to share the feelings of the CEO of LayerZero Labs when he said:
LayerZero is to blockchains what the web was to computing clusters. LayerZero permits chains not solely to construct bridges (to switch property/worth between them) however ship and execute arbitrary knowledge identical to a packet on the web. What this implies is which you can now construct functions which are orders of magnitude extra complicated than present functions and achieve this with a very seamless expertise between chains.
Blockchain interoperability stays the foremost challenge within the Web3 house. Moreover, this has vastly hindered some from venturing into the house, and it’s well-known that if crypto is to take pleasure in mainstream adoption, this challenge must be handled. That’s the reason interoperability protocols like LayerZero are key within the blockchain ecosystem.
It is not uncommon information that the interoperability challenge stems from how blockchains have completely different protocols and requirements that make them incompatible. Nevertheless, platforms like LayerZero bridge this hole by facilitating seamless and direct communication between completely different blockchain networks, making it simple for customers on networks like Ethereum, Aptos, Solana, and SUI to maneuver their digital property throughout these chains.
“Wen Airdrop?”
The query of if LayerZero will perform an airdrop has been on the lips of many members of the LayerZero neighborhood. Though the workforce has been tight-lipped over whether or not or not there’ll certainly be an airdrop to customers, the indicators have gotten extra obtrusive that one could, the truth is, be on the horizon.
With a lot success within the final 12 months and a lot cash raised, it’s potential that LayerZero is already engaged on its native token. If the platform was trying to reward the customers who’ve supported all of it this time, then an airdrop can be the most probably avenue to take action. Nevertheless, with no speak of even a token launch, it’s laborious to find out if LayerZero will conduct an airdrop.
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