Flare Open Up To 50,000 DApps With LayerZero V2 Integration
Highlights
- Flare and LayerZero V2 has inked a strategic partnership
- The integration now affords Flare users to gain access to thousands of DApps
- Flare remains a major data oracle provider with gradual network expansion
LayerZero v2 integration is set to bring a new functionality to Flare with access to about 50,000 Decentralized Applications (DApps).
Flare And LayerZer To Focus on Users and Builders
The data-focused blockchain Flare was recently integrated into the cross-chain messaging platform LayerZero.
This move will allow Flare access to top Layer-1 networks like Solana, Ethereum, and 70 other blockchains. The 50,000 DApps that already added support for Flare can now use the network. According to the update, any chain can now incorporate Flare for decentralized data.
Flare cofounder Hugo Philion described the move as an incredibly valuable integration, particularly for all users and builders on Flare. He is very positive that the deployment of LayerZero V2 will contribute to accelerating Flare’s expansion. Ultimately, Philion say it paves the way for builders to develop a wide variety of innovative interoperable products.
LayerZero is lauded as one of the top cross-chain messaging protocols. Its capabilities involves enabling secure information sharing across blockchains. Since its inception till this time, LayerZero has facilitated over 134 million cross-chain messages. At the same time, it has supported the bridging of over $50 billion in digital assets.
Last month, Stargate Finance, a bridge which is built on LayerZero, registered almost $800 million in bridging transaction volume.
Leveraging LayerZero’s Modular Security Stack
LayerZero boast of having a modular security stack which happens to be a key feature. This modular security stack includes multiple Decentralized Verifier Networks (DVNs).
Such DVNs are present to ensure that applications receive message approval. This capability will allow developers to strike a balance between security and efficiency for their user base. On a large scale, the integration brings a functionality that allows Flare’s enshrined data protocols to potentially serve as a secure DVN on LayerZero V2.
Meanwhile, LayerZero added a new feature to its protocol recently. It introduced a new “Proof-of-Donation” system for claiming its native token ZRO.
The new system allows users to claim ZRO by making a small donation of $0.10 per ZRO token. The donation can be paid in USDC, USDT, or ETH. In the end, the donations head to Protocol Guild, an organization that funds Ethereum developers. LayerZero Foundation will match all donations up to $10 million, resulting in $18.5 million being donated to Protocol Guild.
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