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Bridge Protocol LayerZero Passes 50M Cross-Chain Messages
The milestone highlights the demand for crypto users to transfer liquidity between chains and conduct cross-chain token swaps.
Updated Jul 25, 2023, 5:09 p.m. Published Jul 25, 2023, 5:09 p.m.
Bridge protocol LayerZero surpassed 50 million messages between various blockchains on Tuesday, a landmark for the interoperability platform.
This comes more than three months after LayerZero Labs, the team developing LayerZero, raised $120 million from 33 backers, including Andreessen Horowitz, auction house Christie’s, Sequoia Capital and Samsung Next.
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LayerZero’s milestone highlights the demand for crypto users to transfer liquidity between chains and conduct cross-chain token swaps, despite the possible vulnerabilities.
Bridge exploits accounted for more than $2 billion in stolen assets in 2022, according to data from blockchain analytics firm Chainalysis.
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