As a seasoned crypto investor with a diverse portfolio spanning various blockchains, I’m excited about LayerZero’s expansion to Solana on Wednesday. The ability to seamlessly transfer assets between chains has always been a crucial aspect of my investment strategy.
Starting from Wednesday, LayerZero’s cryptographic bridge will extend its reach to the Solana blockchain, providing an additional avenue for moving digital assets between the Ethereum network and its main rival.
Users of cryptocurrencies on Solana can transfer their assets to Arbitrum, Ethereum, Polygon, and the 78 other connected networks, while also bringing assets from those chains back to Solana – according to Layer Zero Labs, the business behind the inter-chain bridging technology.
LayerZero functions as a communication intermediary between blockchains that aren’t directly compatible. In Q1 2024, its userbase facilitated the transfer of approximately $6.7 billion in cryptocurrencies, resulting in around $11.5 million in earnings, as reported by research firm Messari.
As a researcher studying the latest developments in the tech industry, I’ve come across an exciting piece of news. In April, private venture investors appraised LayerZero Labs at a whopping $3 billion valuation during a significant funding round. Shortly, this innovative protocol is anticipated to launch its own token.
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2024-05-29 16:18