Hassan Maishera
HBAR Foundation, the development team behind the Hedera blockchain, announced via a blog post on Thursday that Omnichain interoperability protocol LayerZero has expanded support to Hedera.
The integration connects the Hedera ecosystem to more liquidity sources by providing a new destination on the Hedera network for EVM-based liquidity looking for real-world utility.
LayerZero’s Omnichain Fungible Token (OFT) standard provides asset-level interoperability for ERC assets on the Hedera network. Hedera-based dapps can now directly integrate the LayerZero Hedera endpoint, providing a seamless bridge experience in-app and opening up new opportunities to introduce new users to the Hedera ecosystem.
Finally, the Hedera endpoint also lays the groundwork for supporting Hedera-based assets on Stargate, the fully composable liquidity transport protocol built on top of LayerZero.
Hedera Hashgraph is a distributed public ledger infrastructure. According to the team, it offers significant improvements over existing blockchains in five areas: performance, security, governance, stability, and regulatory compliance. HBAR is trading at $0.0505 at press time, down 2% over the last 24 hours.
LayerZero is an interoperability protocol designed to facilitate seamless communication between different blockchains. It aims to create a unified, interconnected blockchain ecosystem where assets and data can move freely across various networks. ZRO trades at $3.622, down 4% in the last 24 hours.
