LayerZero has announced the release of its second version which is now live on over 40 testnets. The introduction of LayerZero V2, along with the release of the V2 technical whitepaper, paves the way for an omnichain network, redefining how developers build universal applications.
LayerZero is an omnichain interoperability protocol designed for lightweight message passing across chains. It provides authentic and guaranteed message delivery with configurable trustlessness.
The protocol is built to enable the realization of cross-chain applications with a low-level communication primitive. It supports any blockchain that can run smart contracts, including Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism, Fantom, and other chains.
A key feature of LayerZero is Ultra Light Nodes (ULNs), which run on each blockchain and act as endpoints for cross-chain communication, verifying the validity of transactions and messages from other chains using block headers. The protocol aims to create the optimal interoperability solution for blockchains with seamless and secure cross-chain communication.
According to LayerZero, V2 comes with Decentralized Verification Networks (DVNs), a revolutionary replacement for V1 Oracle. They empower any entity capable of verifying cross-chain data packets to join LayerZero.
Another feature of the V2 is Adapters, which opens the gateway for versatile integration of native bridges, third-party bridges, middle chains, oracles, and various verification methods. This approach eliminates vendor lock-in at the security level.
Other features include X of Y of N (a modular approach to verification allowing flexible combinations of DVNs), replacement of the Relayer with Executors, security stack, increased throughput for developers, and more.
The Web3 firms noted that V2, which is deployed on 40+ testnets, will have its mainnet launch in January 2024. During the mainnet launch, V2 endpoints on each chain supported by V1 will be available.
Additionally, the mainnet will receive support from notable infrastructure entities, including DVNs run by Animoca, Blockdaemon, Delegate, Gitcoin, Nethermind, Obol, P2P, StableLab, Switchboard, Tapioca, Polyhedra, LayerZero Labs, and Google Cloud. Adapters for Axelar and CCIP will be available, with additional support expected in 2024.
