The integration between the cross-chain messaging platform LayerZero and Flare Network has opened up connectivity to 75 blockchain networks, including major players like Ethereum and Solana. This means that Flare now has access to over 50,000 decentralized applications (dApps), thanks to the integration of LayerZero V2.
According to Flare co-founder Hugo Philion, this integration is a significant step forward for both users and builders on Flare. The deployment of LayerZero V2 will not only accelerate Flare’s expansion but also allow builders to create a wide range of innovative interoperable products.
One of the key benefits of this integration is the ability for any chain to connect and leverage Flare’s decentralized data. Flare will also become a Decentralized Verifier Network (DVN) on LayerZero V2, providing secure connectivity to dApps, access to new users, and increased liquidity. Additionally, Flare will benefit from enhanced decentralization.
The integration with LayerZero V2 will enable Flare to facilitate a cross-chain money market and integrate non-smart contract tokens like BTC and XRP. Flare builders will also have the opportunity to create omnichain fungible tokens and chain-agnostic NFTs. Overall, this integration opens up new possibilities for Flare to serve as a highly secure DVN on LayerZero V2.
LayerZero V2’s modular security stack has been instrumental in enabling protocols to confirm and validate cross-chain messages. The use of Decentralized Verifier Networks (DVNs) enhances security, while the Omnichain Fungible Token standard drives growth in the DeFi space. LayerZero’s cross-chain messaging protocol has already facilitated over 134 million cross-chain messages and secured the bridging of more than $50 billion in crypto.
For example, the LayerZero-based bridge protocol Stargate Finance saw nearly $800 million worth of bridged assets in June alone. This demonstrates the growing traction of LayerZero in the crypto space and the potential for even greater innovation and growth in the future. With the integration of Flare Network, LayerZero V2 is well-positioned to continue driving advancements in cross-chain connectivity and interoperability across the blockchain ecosystem.