Moonbeam integrated LayerZero omnichain protocol

Moonbeam integrated LayerZero omnichain protocol

Moonbeam has integrated the LayerZero omnichain protocol

Parachain Moonbeam has integrated the LayerZero network-to-network messaging protocol to enhance interaction in the Web3 space, according to CoinDesk.

Blockchain already uses Polkadot's internal XCM service to communicate between parachains. According to Moonbeam Purestake parent company CEO Derek Yu, using the LayerZero solution will expand messaging to various networks, including Ethereum, BNB Chain, Polygon and others.

Moonbeam hopes this will encourage developers to deploy their applications on the protocol. The integration is designed to help blockchain become a «powerhouse», noted Derek Yu.

«These messaging systems and networking capabilities means that your application will become quite widespread [in chains]», concluded the head of Moonbeam.

In July, the parachain team partnered with DEX Osmosis to enable the exchange of tokens between the Polkadot and Cosmos ecosystems.

The project received a Polkadot parachain slot in November 2021 through the second auction.

What is Polkadot?

As a reminder, in March LayerZero raised $135M in a Series A+ funding round in an evaluation to $1 billion.

In May, the media reported on the team’s plans to bring the project’s valuation to $3 billion through additional capital.

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