The past few years have seen a surge in the number of sidechains, rollups, and Layer-1 blockchains which support and scale applications handling billions of dollars worth of value. The multichain future is here, but there are currently limitations. Bridging between chains can be an expensive, uncertain, and unsecure process requiring users to pay for gas on both the original and destination chain. Wrapped tokens need to be swapped for native assets, adding additional steps (and transaction fees) to a user’s flow. Liquidity pools on cross-chain decentralized finance applications are fragmented. Solving these problems requires a protocol that enables interoperability and composability across chains, while unlocking new areas of design and possibility in cryptonetworks.
Today, we’re excited to announce our investment in LayerZero, a cross-chain communication protocol designed to alleviate the current limitations of omnichain activity. LayerZero is a trustless protocol that will enable users to send tokens or any kind of message in a single transaction across applications that live on various chains. Unlike traditional bridging, which requires users to lock their assets, or blockchain networks that utilize a single relayer or facilitate transactions between fast-finality chains, LayerZero is generalizable enough to run on any chain, across the full spectrum of security and scalability assumptions.
With LayerZero, you also only need to pay for gas once, on the source chain.
The team, co-founded by Bryan Pellegrino, Ryan Zarick, and Caleb Banister, is brilliant and stood out to us for their inventive solution to the interoperability problem that goes well beyond what is currently available in the market. Bryan is a two-time founder in online fantasy sports and predictive AI, and has a past life as a poker champion – another field where game theoretic assumptions reign. Ryan was a founding CTO with Bryan on the sports startup, and has been a three-time co-founder with Caleb in both AI and blockchain-related startups. As we dove deep into technical challenges with the team, we were struck by their dynamism, thoughtfulness, and commitment to quality.
Cross-chain messaging presents a number of challenges that LayerZero proposes to solve. The first is trust: how do you verify that a valid transaction on one chain is sent to and reflected on another? LayerZero’s approach is to split responsibility between a relayer and an oracle; the relayer submits a proof for a transaction, while the oracle is responsible for broadcasting the block header on which the transaction occurs. This provides a strong guarantee that a transaction is valid.
As with many hard problems in blockchains, the second challenge is really a trilemma: what Ryan calls “The Bridging Trilemma.” Bridges strive to deliver fast finality (rapid bridging from a source chain to the destination chain), shared liquidity across chains, and the ability to use native assets as opposed to their wrapped counterparts. Meanwhile, shared liquidity across chains is extremely difficult for cross-chain applications to facilitate. LayerZero’s answer to the bridging trilemma is Stargate, an automated market maker that lives on top of the LayerZero protocol, and will launch alongside LayerZero on mainnet. This video from Bryan compares the drawn-out process of swapping across decentralized exchanges and bridges (which can take anywhere from 36 to 52 clicks, and up to 13:39 minutes) versus transacting on Stargate, which can achieve the same outcome in a single click.
LayerZero is currently live in beta, and has launched across EVM-compatible chains like Ethereum, Avalanche, Polygon, BNB Chain, Fantom, Arbitrum and Optimism, with integrations coming further down the line on chains like Solana and Cosmos. While the first applications to integrate with LayerZero will likely be in decentralized finance, it’s worth emphasizing that cross-chain lending, yield aggregation, and trading are only the beginning. As a generalized messaging protocol, LayerZero can support a wide range of applications: games where an NFT lives on Ethereum’s mainnet, but scales transactions and activity on a rollup, governance for a DAO that is deployed across multiple chains, and a lot more.
We couldn’t be more excited for the future the team is enabling, and the kinds of projects that LayerZero will make possible.
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FAQs
This opens-up a brand-new design space for developers, expanding their vision of composability and compatibility beyond native blockchains onto any and every other blockchain. Below, we will expand on 2 examples that radically change users' and protocols' experience with composability.
Does LayerZero have a token? ›
LayerZero is one of the major upcoming airdrops, funded by many reputable global enterprises such as PayPal. In this article, we will explain what LayerZero is and what you can do to receive its token airdrop. Check out our Arbitrum Airdrop Guide for another highly anticipated token airdrop.
How does LayerZero work? ›
LayerZero relies on two parties to transfer messages between on-chain endpoints: the Oracle and the Relayer. When a UA sends a message from chain A to chain B, the message is routed through the endpoint on chain A. The endpoint then notifies the UA specified Oracle and Relayer of the message and it's destination chain.
What stage does Andreessen Horowitz invest in? ›
Andreessen Horowitz General Information
The firm prefers to invest in seed-stage, early-stage, growth-stage, and later-stage companies. The firm seeks to invest in sectors such as bio + healthcare, consumer, crypto, enterprise, fintech, games, and in companies building toward American dynamism.
Is LayerZero a blockchain? ›
LayerZero is an omnichain interoperability protocol that allows dApps to build across multiple blockchains in a trustless, efficient manner. LayerZero connects dApps across chains using on-chain Ultra Light Nodes, which achieve the security of a light node with the cost-effectiveness of a middle chain.
Should I invest telehealth? ›
Investors shouldn't shy away from telehealth
Whether it's Doximity, a telehealth-oriented exchange-traded fund, or another type of investment, this is an industry that investors should want to have exposure to, given the potential for long-term gains.
Is Cosmos layer 0? ›
Cosmos is a key Layer 0. It connects different blockchains into a meta-blockchain system. On Layer 0, a smart contract on one network may execute a transaction on another.
Will zkSync have a native token? ›
Once zkSync becomes fully decentralized, the blockchain will have a native token as a reward mechanism for ZK rollup operators and for staking.
Where do I get OKT tokens? ›
Go to CoinMarketCap and search for OEC Token. Tap on the button labeled “Market” near the price chart. In this view, you will see a complete list of places you can purchase OEC Token as well as the currencies you can use to obtain it. Under “Pairs” you'll see the shorthand for OEC Token, OKT, plus a second currency.
Is LayerZero decentralized? ›
To achieve a secure, robust and decentralized messaging protocol, LayerZero offers omnichain dApps the optionality of a variety of oracles and relayers.
Polkadot operates at a deeper level than a blockchain like Ethereum—think of it as providing a foundation on which others crypto projects can build. It calls itself a Layer 0 blockchain, whereas Ethereum and similar blockchains like Solana (SOL) and Cardano (ADA) are called Layer 1 blockchains.
What is LayerZero built on? ›
About LayerZero
LayerZero connects dApps across chains using on-chain Ultra Light Nodes, which achieve the security of a light node with the cost-effectiveness of a middle-chain. Using the protocol, developers can turn their dapps into omnichain-applications using a single, simple interface.
How much does a partner at Andreessen Horowitz make? ›
$455,598. The estimated total pay for a Partner at Andreessen Horowitz is $455,598 per year. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The estimated base pay is $207,971 per year.
How do early stage investors make money? ›
Generally, investors make money based on the percentage of equity they own. For example, a larger investor may buy shares from an angel if they want to buy more stock in the startup than the startup wants to sell. However, this deal only happens after the company board approves it.
What is the most successful blockchain? ›
In 2021, the total number of transactions on Ethereum surpassed the number of Bitcoin transactions for the first time. Because Ethereum is the foundation network for so many cryptocurrencies – and for most NFTs as well – it is reasonable to identify Ethereum as the world's most popular blockchain network.
Is teladoc a good growth stock? ›
The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered Very Weak, while those in the top 20% receive A grades, which are considered Very Strong. Teladoc Health Inc has a Growth Score of 70, which is Strong.
Why are telehealth stocks down? ›
2022 has been a rough year financially for Teladoc, as the comedown from pandemic highs in utilization hits publicly traded health tech companies across the country. The telehealth giant's stock has fallen more than 63% this year.
Is Solana a layer 0? ›
Solana bypasses that patchworked approach and relies on the scalability of its main chain, called Layer 1. For this reason, Solana is considered a third-generation blockchain.
Is Polkadot better than Cosmos? ›
So, What's Better: Polkadot or Cosmos? As of right now, Cosmos offers much more usability. It allows virtually anyone to create projects on the network. However, once Polkadot becomes fully functional, it may be a better platform due to increased security and uses.
Can I swap on zkSync? ›
There are 3 steps required to successfully make a swap: Sign an order that confirms that you want perform a certain swap. Acquire a signed order of the same format from the account that you want to swap with. Submit both orders with a fee to the zkSync server.
Click Connect a wallet
Choose the brand of your Ethereum wallet, or WalletConnect if you use another mobile wallet. Choose the asset and amount you wish to send. Please make sure to send zkSync-supported assets only. Click Send and confirm the transaction with your wallet.
Who uses zkSync? ›
Argent is using zkSync for their Layer 2 wallet to give you easy access to the best of DeFi at a fraction of the price of using Ethereum.
Where can I buy OKB crypto? ›
The easiest way to obtain OKB coins is to buy them via OKEx. However, there are also many alternative cryptocurrency exchanges where you can purchase or trade the token. These include OKEx, FTX, Gate.io, Uniswap (V2), HitBTC, BiONE, LBank, Hotcoin Global, Coin Ex, ProBit Global, Hotbit.
How do you get a HODL token? ›
Log in to your Binance App and tap [More] on the homepage. Scroll down to [Gift & Campaign] - [BAB Token]. 2. You will see the list of requirements for minting your BAB token, including complete Identity Verification, connect a compatible wallet, and verify the wallet ownership.
How do I get FTT tokens? ›
Buy FTT via Peer-to-Peer (P2P) Trading
Select a preferred advertiser with your ideal USDT price listed on the Bybit P2P platform, then proceed with the payment process. The purchased coins should reflect in the asset wallet once the seller has successfully released the coins.
What is the most Decentralised cryptocurrency? ›
For instance, Bitcoin is theoretically one of the most decentralized blockchains in existence. It was designed in a way where anyone can use a computer to become a part of the network's consensus mechanism, mine bitcoin, and take part in the voting process.
Is decentralized Internet safe? ›
With decentralized protocols, hackers would have to find and breach an entire network of secure servers — a prohibitively complex task. But decentralized networks are about more than keeping your data safe. They're also about keeping your data where it belongs: in your own hands.
What layer is Solana? ›
Solana is a Layer 1 blockchain designed to facilitate smart contracts and the creation of new decentralized applications (DApps).
Is Cardano a layer? ›
With this visual schematic in mind, Cardano is the layer 1 (the base network), which itself includes three independent layers: Network layer. Consensus layer. Ledger layer.
Does Polkadot have potential? ›
Cryptocurrency experts have carefully analyzed the range of DOT prices throughout 2022. For October 2023, their forecast is the following: the maximum trading value of Polkadot will be around $9.05, with a possibility of dropping to a minimum of $7.82. In October 2023, the average cost will be $8.05.
Omnichain communication, interoperability, decentralized infrastructure. LayerZero is an omnichain interoperability protocol designed for lightweight message passing across chains. LayerZero provides authentic and guaranteed message delivery with configurable trustlessness.
What are l1 blockchains? ›
What Is a Layer 1 Blockchain? Layer 1 refers to the base infrastructure of a blockchain. Nicknamed “the mainnet,” layer 1 protocols have distinct functionalities such as the ability to process and finalize transactions on its own chain. As the main network within their ecosystem, they define the rules.
How much does a Partner at PwC make a year? ›
The estimated total pay for a Partner at PwC is $356,259 per year.
How much does a Partner at Deloitte make per year? ›
Deloitte Consulting Partner salary
At Deloitte, the Partner's annual base salary is $413,000. With $130,000 additional bonuses and $30,000 profit sharing, a Deloitte Partner can make up to $575,000 per year.
How much does a first year PwC Partner make? ›
The average across all partners will land right around $650k – $850k each year. Big 4 Firms – PwC, KPMG, EY, and Deloitte Partner Salaries: Years 1-5: $300k – $500k. Years 6-10: $400k – $1.3M.
What is the #1 rule in investing? ›
The 1% rule of real estate investing measures the price of the investment property against the gross income it will generate. For a potential investment to pass the 1% rule, its monthly rent must be equal to or no less than 1% of the purchase price.
What is the 3 day rule in investing? ›
In short, the 3-day rule dictates that following a substantial drop in a stock's share price — typically high single digits or more in terms of percent change — investors should wait 3 days to buy.
How much money should a beginner invest for the first time? ›
You may think you need a large sum of money to start a portfolio, but you can begin investing with $100.
What are the 3 key factors to consider in investment? ›
Any investment can be characterized by three factors: safety, income, and capital growth. Every investor has to pick an appropriate mix of these three factors.
What are the 4 M's of investing? ›
The 4M's of investing were coined by Warren Buffett and further employed by numerous other top investors including my mentor, Phil Town. The 4M's are Margin of Safety, Meaning, Moat, and Management. To learn more about the 4M's and how to use them, click here.
For 2022, the company now anticipates global system-wide sales growth to be 6-8%. Wendy's is steadfast in expanding its presence globally. The company's international business is thus poised to be a driver of future growth. The less-saturated emerging markets offer the company enormous growth opportunities.
Why are people buying Quant? ›
Quant provides the most up-to-date data at any time and allows banking systems to interconnect with each other. Besides this, Quant also makes it possible to flow digital money in or out of an organization. 2. Its distributed ledgers eliminate duplicate reconciliation and notarization processes.
Why should I invest in PLDT? ›
PLDT has a higher gross margin than Verizon and AT&T, 78.66% versus 58.66% and 51.75%. PHI's 3 Year Revenue CAGR of 4.74% is also higher than Verizon's 0.82% and AT&T's 3.58%. PLDT's 3-year net income CAGR is 16.42%, which is far better than Verizon's -13.56%.
Why was Quai Network created? ›
Quai Network is a new design to create radically more efficient blockchains. Our solution relies on revolutionary advances in blockchain sharding technologies and the use of Proof-of-Work 2.0. Because Quai Network is modular, it can scale horizontally to accommodate more users as the network grows.
Why you should not wait to invest? ›
If you plan to stay invested for years or decades, there is no perfect day to wait to invest. The longer your money stays uninvested, the less days it can be put to work for you. The longer you plan to stay invested the more risk you may choose to accept, depending on your tolerance.
Will Wendy's stock go up? ›
Stock Price Forecast
The 26 analysts offering 12-month price forecasts for Wendys Co have a median target of 25.00, with a high estimate of 29.00 and a low estimate of 19.00. The median estimate represents a +13.17% increase from the last price of 22.09.
Is Wendy's a good stock to buy right now? ›
Out of 14 analysts, 3 (21.43%) are recommending WEN as a Strong Buy, 3 (21.43%) are recommending WEN as a Buy, 8 (57.14%) are recommending WEN as a Hold, 0 (0%) are recommending WEN as a Sell, and 0 (0%) are recommending WEN as a Strong Sell. If you're new to stock investing, here's how to buy Wendy's Co stock.
Are quant funds risky? ›
These funds are based on objective decision-making and do not include human participation. Furthermore, there is a lesser risk of error than in traditional investing. Because of its steady and passive investment technique, this fund is a low-cost option with low management fees.
Why do quant funds fail? ›
The Silo Approach for Quants
This strategy fails as the workflow of quants is much more complex than that of a discretionary PM, therefore, by isolating 100 PhD quants, they will frantically search for investment opportunities, given the high pressure.
Is QNT good for long term? ›
QNT is an excellent long-term investment. The coin has the potential to give you more profits in eight to ten years, but you should throw caution to the winds when investing in cryptocurrencies due to their volatility.
