Alisa Davidson
Revealed: January 31, 2025 at 10:00 am Up to date: January 31, 2025 at 5:30 am
Edited and fact-checked:
January 31, 2025 at 10:00 am
In Transient
Cronos Labs introduced that LayerZero is now reside on Cronos EVM and Cronos zkEVM, masking mainnet and testnet networks, enabling builders to construct bridges, increase token ecosystems, and create a variety of cross-chain apps.
Web3 startup accelerator targeted on the event of the Cronos blockchain ecosystem, Cronos Labs introduced at this time that the LayerZero interoperability protocol is now reside on each Cronos EVM and Cronos zkEVM, masking each mainnet and testnet networks.
This integration permits builders to construct bridges, increase token ecosystems, and create a big selection of cross-blockchain purposes. It connects Cronos customers to the aggregated liquidity of over 115 blockchain networks supported by LayerZero, together with Ethereum, Solana, and most different EVM-compatible layer 1 and layer 2 networks.
“Cross-chain interoperability has been a serious precedence of the Cronos challenge since its inception,” mentioned Ken Timsit, Managing Director of Cronos Labs, in a written assertion. “Given the numerous safety and liquidity challenges related to the fragmentation of the crypto trade, Cronos Labs is executing on that precedence with warning and willpower. In 2025, we count on a lot larger connectivity between crypto initiatives and conventional finance. The combination with LayerZero allows that,” he added.
This milestone is anticipated to result in quite a few different protocol integrations, as a whole bunch of purposes using LayerZero can now lengthen their companies to Cronos customers and securely entry billions of US {dollars} in cryptocurrency property hosted on the Cronos community.
For Cronos EVM, which is the main EVM-compatible Layer 1 community constructed on the Cosmos SDK, this integration will enable customers to simply switch property between the Cosmos SDK ecosystem and varied different EVM-compatible blockchains, together with Solana. Cronos EVM achieves interoperability with the Cosmos SDK ecosystem by the Inter Blockchain Communication (IBC) protocol.
For Cronos zkEVM, the primary Elastic Chain to launch on mainnet after ZKSync Period, customers will proceed to learn from the native Ethereum bridge, which connects to greater than 10 different Elastic chains. Moreover, they may be capable to execute quicker cross-blockchain transfers throughout a broad vary of Layer 1 and Layer 2 networks.
“Cronos zkEVM is likely one of the first Elastic Chains that LayerZero is increasing to, which is thrilling, as the entire level of interoperability is to attach various kinds of chains,” mentioned Bryan Pellegrino, CEO of LayerZero Labs, in a written assertion. “I’m excited to see what’s constructed right here,” he added.
Cronos To Broaden Cross-Blockchain Bridging Capabilities With LayerZero Integration
As LayerZero primarily serves as a developer instrument, the thrilling cross-blockchain functionalities should not but out there to most finish customers. Nonetheless, extra bulletins are anticipated within the upcoming weeks. New cross-blockchain bridging choices shall be launched as third-party hyperlinks on the official Cronos bridge portals. These choices will embody CRO/zkCRO and different token bridging options between Cronos EVM and Cronos zkEVM, which shall be developed over the subsequent few weeks.
Within the meantime, Cronos Labs is ready to help any builders seeking to make the most of these new options. Along with token bridging, Cronos Labs is especially targeted on supporting decentralized purposes (dApps) that leverage LayerZero’s expertise to create use instances resembling cross-chain prediction markets, tokenization of real-world property, buying and selling platforms for artificial property, cross-chain lending protocols, and different decentralized finance (DeFi) purposes able to using locked collateral throughout a number of chains. The platform can be concerned with supporting liquid staking and restaking protocols.
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About The Writer
Alisa, a devoted journalist on the MPost, focuses on cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising developments and applied sciences, she delivers complete protection to tell and interact readers within the ever-evolving panorama of digital finance.
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Alisa Davidson
Alisa, a devoted journalist on the MPost, focuses on cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising developments and applied sciences, she delivers complete protection to tell and interact readers within the ever-evolving panorama of digital finance.
Extra articles
