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Bridge Protocol LayerZero Passes 50M Cross-Chain Messages

Bridge Protocol LayerZero Passes 50M Cross-Chain Messages

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.

The milestone highlights the demand for crypto users to transfer liquidity between chains and conduct cross-chain token swaps.

The milestone highlights the demand for crypto users to transfer liquidity between chains and conduct cross-chain token swaps.

By Sage D. Young
AccessTimeIconJul 25, 2023, 5:09 PM
LayerZero CEO Bryan Pellegrino at Crypto Bahamas 2022 (Danny Nelson/CoinDesk)
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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.

Edited by Stephen Alpher.

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Sage D. Young

Sage D. Young was a tech protocol reporter at CoinDesk. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, ARB, PEOPLE, DOGE, OS, and HTR.

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BridgeLayerZeroSequoiaAndreessen HorowitzLiquidity