The move will enable Solana users to transfer their assets between Arbitrum, Ethereum, Polygon, and other chains integrated with LayerZero.
LayerZero, an interoperability protocol for cross-chain asset transfers, has announced the addition of Solana to its network of more than 70 blockchains.
The integration is now live, enabling developers to create applications that can send assets and data to and from Solana via rollups, layer 1s, layer 2s, and other non-EVM chains. LayerZero connects the Solana network to seven chains: Ethereum, Avalanche, Polygon, Arbitrum, BNB Chain, Optimism, and Base. It facilitates secure and transparent cross-chain communication, allowing assets and data to be transferred between different blockchain networks. According to Messari, LayerZero users moved $6.7 billion worth of cryptocurrencies in the first quarter of 2024, generating $11.5 million in revenue.
"Integrating Solana is incredibly important. Crypto is built to disrupt the walled gardens of traditional finance. Yet, we sometimes find ourselves creating these walls all over again, like how two of the largest blockchains, Solana and Ethereum, are not able to communicate natively with each other," LayerZero co-founder Bryan Pellegrino said in the release.Disclaimer: The Block is an independent media outlet that delivers news, research, and data.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Bridge LayerZero Connects to Solana BlockchainDanny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.
Read more »
Solana (SOL) Skyrockets 1,966% in Fund Flows: Is Solana ETF Possibility?Solana (SOL) has surged jaw-dropping 1,966% in fund inflows, sparking discussions about potential for Solana ET
Read more »
Ore wins Solana hackathon despite disrupting Solana’s network in AprilThe Solana-native cryptocurrency Ore won a Solana-backed hackathon despite playing a major role in the disruption of the blockchain last month.
Read more »
LayerZero cross-chain interoperability protocol completes first airdrop snapshotLayerZero’s ZRO perpetual futures contract is trading at $8.6 on Hyperliquid, suggesting a potential $17 billion fully diluted valuation.
Read more »
LayerZero Labs finalizes initial snapshot for potential airdropLayerZero Labs has completed the first snapshot apparently related to a potential airdrop distribution to community members.
Read more »
LayerZero Takes Snapshot as Airdrop Draws CloserOliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Read more »