Solana

LayerZero

Polkadot

Cosmos

Flare

LayerZero Labs is partnering with Initia Labs to develop an interoperability standard for Cosmos, the two blockchain platforms announced on Wednesday.
The goal is to enable Cosmos SDK chains and LayerZero-enabled chains to connect, facilitating omnichain interoperability. This <a href="https://crypto.news/tag/cosmos/" rel="noopener noreferrer nofollow">Cosmos</a> related news comes a few days after <a href="https://crypto.news/flare-layerzero-integration-blockchains/" rel="noopener noreferrer nofollow">Flare integrated LayerZero V2</a> to connect to over 75 blockchains.
<h2 class="wp-block-heading" id="why-an-interoperability-standard-for-cosmos">Why an interoperability standard for Cosmos?</h2>
<a href="https://medium.com/layerzero-official/layerzero-labs-x-initia-labs-6f9eca12659c" target="_blank" rel="noopener noreferrer nofollow">According to the LayerZero team</a>, the targeted interoperability solution constitutes a Cosmos SDK Module rather than a smart contract. This means LayerZero can support Cosmos chains with both VM and non-VMs.
The new interoperability standard will allow developers to leverage any LayerZero-supported chain to extend both existing and new dApps to and from Cosmos chains. The development aligns with Cosmos’ vision of an “Internet of Blockchains,” Initia Labs’ “interwoven” chains, and LayerZero’s omnichain interoperability.
<h2 class="wp-block-heading" id="more-about-omnichain-interoperability">More about omnichain interoperability</h2>
Omnichain interoperability allows blockchains, oracles, bridges, and other networks within the ecosystem to “communicate.” This enables a single transaction to go across multiple blockchains without any user intervention.
While blockchain ecosystems such as Polkadot and Cosmos have mechanisms that allow for interoperability, applications within these ecosystem still need omnichain solutions like LayerZero to communicate with external chains.
Omnichain interoperability means a message can move from Cosmos to Solana and then to Ethereum or another blockchain. The prerequisite is that an end user only needs to sign one transaction.
As an omnichain interoperability protocol, LayerZero has facilitated more than 135 million cross-chain messages. These have covered more than 80 blockchain networks, where over 200 applications use the network for messaging.
The protocol’s technology is critical for applications on chains that cannot achieve native communication.
Meanwhile, the Cosmos SDK supports tailor-made blockchains – also called appchains – for developers. LayerZero’s integration of Cosmos marks a step forward in the quest to achieve full omnichain interoperability.

LayerZero and Initia developing interoperability standard for Cosmos

İçindekiler

crypto.news

10 Tem 2024 tarihli diğer yazılar

BlockDAG’s Fastest Block Processing Speed & Presale Progress Ignite $30 by 2030 Prediction; BNB F...

Why Everyone Goes Crazy About Hamster Pre-Market, These ‘Old but gold’ Altcoins Surging

Bitwise Says SEC Open To ETFs Beyond Bitcoin, Ethereum As ETH ETFs Near The Finish line

Nigeria’s Finance Minister Calls on New SEC Board to Strengthen Crypto Oversight

Financial Institutions Integrate with Cryptocurrencies

BlockDAG Shatters Expectations: Mining Revolution Begins Two Months Early With X1 Miner App! Tron...

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!