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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.

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

    Sage D. Young
    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.

    Follow @httpsageyd on Twitter

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