LayerZero revamp to focus on bolstering decentralization, security, and throughput<\/p>\n
LayerZero, the popular cross-chain messaging protocol, has unveiled its forthcoming v2 iteration.<\/p>\n
On Dec. 14, LayerZero launched a testnet for its v2 upgrade. The revamped protocol will focus on streamlining third-party development, bolstering security, and improving throughput.<\/p>\n
\u201cV2 [makes] security easier to configure, increasing throughput, and minimizing liveness concerns through permissionless infrastructure roles,\u201d said Bryan Pellegrino, Co-Founder and CEO of LayerZero Labs. \u201cIf you’re building on LayerZero, it’s because you don\u2019t want to trust others, it\u2019s because you trust yourself.\u201d<\/p>\n
Key improvements featured in the v2 upgrade include the introduction of \u201cunified semantics,\u201d allowing dApp developers to build applications \u201cthat work the same across every blockchain LayerZero has an endpoint on.\u201d<\/p>\n
Builders can also configure a customized security stack and select from multiple third-party Decentralized Verifier Networks (DVNs) to bolster decentralization. LayerZero noted that anyone can now permissionlessly operate as a DVN, with prominent web3 infrastructure providers including Google Cloud, BlockDaemon, and Nethermind pledging to provide DVN services when v2 launches on mainnet.<\/p>\n
LayerZero argues that bolstering the decentralization of its DVN infrastructure addresses criticism<\/a> levied at the project emphasizing that its security was ultimately guaranteed by a two-of-two multisig account.<\/p>\n LayerZero also claims v2 will unlock the maximum throughput of destination chains by \u201cverifying messages sequentially while permitting out-of-order execution\u201d through \u201clazy nonce-order enforcement.\u201d<\/p>\n LayerZero\u2019s v2 announcement follows a big year for the project.<\/p>\n In April, the team raised $120M at a $3B valuation<\/a> in a Series B funding round, tripling LayerZero\u2019s valuation from its previous raise 13 months ago.<\/p>\n Last week, LayerZero announced plans to launch and distribute a long-awaited token<\/a> during the first half of next year. Airdrop opportunists have long eyed LayerZero as a likely candidate to introduce a token, with LayerZero-based transactions tripling<\/a> after Arbitrum\u2019s $1B airdrop in March.<\/p>\nLayerZero\u2019s 2023 rise<\/h2>\n