LayerZero Integrates with the Hedera Network

Twitter icon  •  Published 1 week ago  •  Hassan Maishera

HBAR Foundation, the development team behind the Hedera blockchain, announced via a blog post on Thursday that Omnichain interoperability protocol LayerZero has expanded support to Hedera.

HBAR Foundation, the development team behind the Hedera blockchain, announced via a blog post on Thursday that Omnichain interoperability protocol LayerZero has expanded support to Hedera.

The integration connects the Hedera ecosystem to more liquidity sources by providing a new destination on the Hedera network for EVM-based liquidity looking for real-world utility.

LayerZero’s Omnichain Fungible Token (OFT) standard provides asset-level interoperability for ERC assets on the  Hedera network. Hedera-based dapps can now directly integrate the LayerZero Hedera endpoint, providing a seamless bridge experience in-app and opening up new opportunities to introduce new users to the Hedera ecosystem.

Finally, the Hedera endpoint also lays the groundwork for supporting Hedera-based assets on Stargate, the fully composable liquidity transport protocol built on top of LayerZero.

Hedera Hashgraph is a distributed public ledger infrastructure. According to the team, it offers significant improvements over existing blockchains in five areas: performance, security, governance, stability, and regulatory compliance. HBAR is trading at $0.0505 at press time, down 2% over the last 24 hours.

LayerZero is an interoperability protocol designed to facilitate seamless communication between different blockchains. It aims to create a unified, interconnected blockchain ecosystem where assets and data can move freely across various networks. ZRO trades at $3.622, down 4% in the last 24 hours.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.