LayerZero Price (ZRO)

What Is LayerZero?

LayerZero is an omnichain interoperability protocol designed for lightweight message passing across chains. LayerZero provides authentic and guaranteed message delivery with configurable trustlessness. It is a “blockchain of blockchains” that allows other blockchain networks to communicate directly and in a trustless manner.

LayerZero’s key feature is Ultra Light Nodes (ULNs). These smart contracts run on each blockchain and act as endpoints for cross-chain communication. ULNs verify the validity of transactions and messages from other chains using block headers and transaction proofs, ensuring security and efficiency.

LayerZero supports any blockchain that can run smart contracts, such as Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism, Fantom and other chains. LayerZero also supports non-EVM chains like Aptos. These so-called omnichain applications should become a key layer of a multi-chain future, where different blockchains interact simultaneously.

LayerZero aims to create the optimal interoperability solution for blockchains with seamless and trustless cross-chain transactions.

Who Are the Founders of LayerZero?

LayerZero Labs, the company behind LayerZero protocol, was co-founded by Bryan Pellegrino, Ryan Zarick, and Caleb Banister in 2021.

LayerZero has also attracted some of the most prominent investors in the crypto space, such as a16z, Sequoia, Paypal Ventures, Polygon, Coinbase Ventures, Binance Labs, DeFiance Capital, Spartan Group, Sino Global Capital, Multicoin Capital and more. The company raised $135 million in a Series B round in March 2022 and another Series B of $120 million in April 2023.

What Makes LayerZero Unique?

LayerZero distinguishes itself from other interoperability solutions in several ways:

Ultra Light Nodes (ULNs): LayerZero uses on-chain ULNs, which are smart contracts that run on each blockchain and act as endpoints for cross-chain communication. ULNs verify the validity of transactions and messages from other chains using block headers and transaction proofs, ensuring security and efficiency.

Generic Messaging: LayerZero enables any type of cross-chain communication, not just asset transfers. LayerZero can support any kind of payload, such as function calls, data exchange, governance votes, NFT transfers and others. This allows developers to create omnichain applications that can leverage the features and advantages of multiple blockchains simultaneously.

State Sharing: LayerZero allows applications to share state across chains, meaning that they can synchronize their data and logic without relying on centralized servers or databases. This enables applications to operate as a single entity across multiple chains, creating a seamless user experience and reducing complexity.

Instant Finality: LayerZero guarantees instant finality for cross-chain transactions, meaning that they are confirmed as soon as they are included in a block on the source chain. This eliminates the need for waiting periods or confirmations on the destination chain, improving speed and usability.