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Cross-chain messaging platform LayerZero has integrated Flare, connecting the Layer 1 blockchain for data to 75 blockchain networks.
As x.com/FlareNetworks/status/1808502172901896623″ target=”_blank” rel=””>Announced On Wednesday, the integration means Flare can now connect to major blockchain networks like ethereum and Solana. The milestone also makes Flare accessible to multiple ethereum Layer 2 (L2) networks, bringing over 50,000 decentralized applications (dApps) to Flare.
“This is an incredibly valuable integration for all Flare users and developers. The implementation of LayerZero V2 will help accelerate the expansion of Flare, paving the way for developers to develop a wide variety of innovative and interoperable products,” said Flare co-founder Hugo Philion.
Flare will benefit from the integration of LayerZero V2
While the integration will also help any chain connect and leverage Flare’s decentralized data, Flare has numerous benefits.
In addition to Flare becoming a DVN on LayerZero V2, the integration also brings benefits such as secure connectivity to dApps, access to new users, and liquidity. Flare will also benefit from increased decentralization.
“Of great interest to me is LayerZero’s ability to help Flare facilitate a cross-chain money market, while also leveraging Flare’s integration of non-smart contract tokens such as btc and XRP,” said the Flare co-founder. “Other exciting aspects include the ability for Flare developers 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.”
LayerZero's growing traction in the cryptocurrency world
The protocols leverage a key feature of LayerZero V2: the modular security stack that allows protocols to confirm and validate cross-chain messages.
The technology behind this infrastructure is decentralized verifier networks (DVNs), and networks can create their own DVNs to reinforce security. Applications can also leverage LayerZero’s Omnichain Fungible Token standard to boost DeFi growth.
LayerZero’s cross-chain messaging protocol has facilitated over 134 million cross-chain messages and helped secure the union of over $50 billion in cryptocurrency.
For example, LayerZero-based bridge protocol Stargate Finance saw nearly $800 million worth of bridged assets in June alone.
