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 huge buying and selling exercise and cross-chain token swaps that occur throughout a number of chains each day.
LayerZero’s Spectacular Progress
The ‘50-million cross-chain messages’ is undoubtedly a testomony to how a lot LayerZero has achieved within the area. Because of the undertaking’s disruptive imaginative and prescient, it has acquired monumental backing from among the ecosystem’s largest Enterprise Capitalists (VC).
Three months in the past, LayerZero raised $120 million from distinguished backers like public sale firm Christie’s, famend VC corporations 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, nearly 3 times its $135 million valuation throughout the funding spherical held again in 2022.
This exceptional feat has additionally come throughout the lingering crypto bear market when many have felt that the outlook within the business might be detrimental. That’s the reason it’s straightforward to share the emotions 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 belongings/worth between them) however ship and execute arbitrary information identical to a packet on the web. What this implies is that you may now construct purposes which are orders of magnitude extra advanced than current purposes and accomplish that with a very seamless expertise between chains.
Blockchain interoperability stays the foremost subject within the Web3 area. Moreover, this has drastically hindered some from venturing into the area, and it’s well-known that if crypto is to get pleasure from mainstream adoption, this subject must be handled. That’s the reason interoperability protocols like LayerZero are key within the blockchain ecosystem.
It is not uncommon data that the interoperability subject 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 straightforward for customers on networks like Ethereum, Aptos, Solana, and SUI to maneuver their digital belongings throughout these chains.
The query of if LayerZero will perform an airdrop has been on the lips of many members of the LayerZero group. Though the staff 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, actually, be on the horizon.
With a lot success within the final 12 months and a lot cash raised, it’s attainable 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 could be the almost definitely avenue to take action. Nevertheless, with no discuss of even a token launch, it’s laborious to find out if LayerZero will conduct an airdrop.
Complete market cap resumes restoration pattern | Supply: Crypto Total Market Cap on TradingView.com
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