bullish
LayerZero Deep-Dive Part 1: The SWIFT Network of Blockchain?
SUMMARY
- LayerZero is a leading omnichain interoperability protocol designed to address the limitations of communication between blockchains. The protocol's permissionless architecture allows projects to join and select verifiers at their discretion, creating a marketplace for verification services and a network effect for protocol growth
- The protocol currently handles approximately 30,000 messages daily, generating ~$0.7M in revenue as of July. About 50% of this volume comes from asset bridging.
- In 2024, LayerZero onboarded over 70 projects and 30+ chains, bringing the cumulative total to 300+ projects and 55,000+ on-chain contracts. The protocol offers OApp and omni-chain digital asset standards to facilitate project adoption.
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