Exploring an Emerging Omnichain Interoperability Protocol - LayerZero

[pure_happiness_inside]

Wanted to share an informative new blog post introducing LayerZero, a promising protocol that enables seamless and secure transactions across different blockchains.

The article covers:

How LayerZero works as an omnichain solution to connect blockchains
Background on its founding team
LayerZero's mechanisms for valid message delivery
Impressive ecosystem growth and integration
Tutorial for getting started with LayerZero via Stargate Finance
As interoperability becomes more important in the blockchain space, protocols like LayerZero have great potential to unlock frictionless value transfer and liquidity aggregation across chains.

Let me know your thoughts on LayerZero and cross-chain protocols in general. Excited to discuss further!

Full post here: https://coinfeeds.io/research/layerzero-pioneering-omnichain-transactions-across-chains

[IShishkin]

Let me try.

1) Is LayerZero compatible with decentralized blockchain networks such as Bitcoin? What are prerequisites for compatibility of LayerZero with existing or future blockchain networks?

2) > LayerZero is a communication protocol

Who is supposed to use this protocol? Could you list all groups of participants based on their role? What data they should poses in order to be able to play their role in the network?

3) > Its core function is to ensure "valid delivery." This means the receiving chain correctly matches and verifies transactions from the sender chain, eliminating the need for middlemen.

What it means to "verify the transaction"? What verification steps can LayerZero support and what steps it can't support?

4) > The protocol implements generic messaging that provides trustless valid delivery of arbitrary data.

What means "trustless valid delivery of arbitrary data"?

[@sriyan]

Wanted to share an informative new blog post introducing LayerZero, a promising protocol that enables seamless and secure transactions across different blockchains.

The article covers:

How LayerZero works as an omnichain solution to connect blockchains
Background on its founding team
LayerZero's mechanisms for valid message delivery
Impressive ecosystem growth and integration
Tutorial for getting started with LayerZero via Stargate Finance
As interoperability becomes more important in the blockchain space, protocols like LayerZero have great potential to unlock frictionless value transfer and liquidity aggregation across chains.

Let me know your thoughts on LayerZero and cross-chain protocols in general. Excited to discuss further!

Full post here: https://coinfeeds.io/research/layerzero-pioneering-omnichain-transactions-across-chains

Layerzero is a messaging infrastructure, which can be used by multiple bridging solutions.  They can transfer any omnichain tokens.

Eg:

1. OFT - Omnichain fungible token
2. ONFT - Omnichain non-fungible token

[zeuner]

Considering that enabling something like "frictionless value transfer" from/to other chains will most likely require at least a hard fork for most well-established chains, it will be interesting to see whether this is a price the chains are willing to pay.

[zasad@]

https://medium.com/layerzero-official/layerzero-v2-is-live-740290f2dbe6
"LayerZero V2 is live, bringing permissionless, censorship-resistant, and immutable interoperability to 20+ chains.

V2 Highlights
Universal Messaging: Any type of message can be sent and composed between chains, including arbitrary data, external function calls, and/or tokens.
Modular Security: Developers may choose from their preferred combination of 20+ Decentralized Verifier Networks (DVNs) when selecting a Security Stack to verify cross-chain messages.
Permissionless Execution: Anybody may run an Executor in V2. Information on how to run your own Executor is available here.
Unified Semantics: OApp and OFT contracts enable developers to build applications and tokens that work the same across every blockchain V2 has an endpoint on.
V1 Compatibility: ​​Migration options exist for V1 applications. If already deployed on V1, applications can utilize the new security and execution model via ULN 301. More information can be found here."