Polkadot Parachain Moonbeam Integrates Cross-Chain Messaging Protocol LayerZero

Developing Web3 interoperability via cross-chain messaging has become a growing trend.

AccessTimeIconAug 29, 2022 at 1:15 p.m. UTC
Updated May 11, 2023 at 4:20 p.m. UTC

Polkadot parachain Moonbeam has integrated cross-chain messaging protocol LayerZero to facilitate Web3 interoperability, Polkadot said Monday.

Moonbeam, a layer 1 blockchain protocol with 9.6 million lifetime transactions, according to Etherscan, already uses the Polkadot ecosystem’s internal messaging service, XCM. Derek Yoo, the CEO of Purestake, the development team behind Moonbeam, told CoinDesk that its integration of LayerZero, which raised $6 million in a Series A round in September, will offer a broader messaging service across various chains such as Ethereum, BNB Chain, Polygon and others. Yoo said this will encourage builders to deploy their applications on Moonbeam.

  • U.S. Spot Bitcoin ETF Flows Drop in Q2: Kaiko
    00:47
    U.S. Spot Bitcoin ETF Flows Drop in Q2: Kaiko
  • What's the Biggest Problem With Play-to-Earn Model?
    00:47
    What's the Biggest Problem With Play-to-Earn Model?
  • How Tap-To-Earn Is Advancing Web3 Gaming
    13:06
    How Tap-To-Earn Is Advancing Web3 Gaming
  • What Cooling Inflation Means for the Crypto Market
    10:05
    What Cooling Inflation Means for the Crypto Market
  • Developing Web3 interoperability via cross-chain messaging has been a growing trend. Last week, three Solana-based projects joined forces to create the Open Chat Alliance, establishing a standard for messaging between protocols. In May, Web3 data platform CyberConnect raised $15 million in Series A funding to take users’ social information between protocols.

    Yoo told CoinDesk he hopes the integration will help Moonbeam become “a hub of activity.” “These messaging systems and this ability to network means your app is going to become quite prevalent [across chains],” said Yoo.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Cam Thompson

    Cam Thompson was a news reporter at CoinDesk.