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LayerZero Labs introduced at present the launch of LayerZero V2, which goals to boost the safety, throughput, and flexibility of the LayerZero protocol, additional solidifying its position in facilitating cross-chain interoperability and supporting common purposes. With the deployment of V2, the group’s focus now shifts towards the mission’s token launch, slated for the primary quarter of this yr.
V2 is stay. pic.twitter.com/rAIxa1BMWb
— LayerZero Labs (@LayerZero_Labs) January 29, 2024
In a weblog publish accompanying the announcement, LayerZero outlined a number of key options of V2. The replace introduces Common Messaging, a function permitting the seamless sending and composition of varied message varieties, together with knowledge, exterior operate calls, and tokens, throughout greater than 20 blockchains.
One other enhancement in V2 is Modular Safety. It permits builders to select from over 20 Decentralized Verifier Networks (DVNs) for his or her most well-liked Safety Stack. This customization is essential for verifying cross-chain messages, catering to various safety wants throughout purposes.
LayerZero’s V2 additionally emphasizes Permissionless Execution. Now, anybody can run an Executor, increasing the community’s participation and democratizing the protocol’s operation. The upgraded model moreover options Unified Semantics, together with OApp and OFT contracts that allow builders to construct purposes and tokens that operate uniformly throughout all blockchains that V2 helps.
Moreover, LayerZero ensures a easy transition for current purposes from V1 to V2. V1 purposes have migration choices and may leverage the brand new safety and execution mannequin by way of Extremely-Gentle Node 301.
LayerZero is an omnichain resolution that permits seamless interplay between a number of blockchains with out sacrificing decentralization, security, and effectivity. The mission raised $120 million in funding final April, valuing the corporate at as much as $3 billion.
The launch of LayerZero V2 follows the mission’s announcement final month that the protocol had gone stay on over 40 testnets, setting the stage for a mainnet launch. Beforehand, the mission disclosed plans to introduce a local token in Q1 2024.
LayerZero has all the time been constructed with the flexibility to have a local token inside the protocol, as might be seen within the immutable code launched on day 1. We’ve heard the group dialogue over the previous couple of months and the dearth of clear communication round this. We’ll state now in…
— LayerZero Labs (@LayerZero_Labs) December 7, 2023