There is an important development in the cryptocurrency world today. Google is partnering with an altcoin project. Let’s look at the details.
Strengthening Web3 interoperability with altcoin partnership
There’s news from LayerZero Labs, the driving force behind cross-chain messaging protocol LayerZero. announced an exciting partnership with Google Cloud to improve the security and performance of its cross-chain ecosystem. This collaboration will provide high-performance cloud infrastructure to developers. It also aims to accelerate the advancement of Web3 interoperability.
As part of this collaboration, Google Cloud will do something important. It will serve as LayerZero’s default oracle to secure messages within the LayerZero network. This strategic move allows developers working on decentralized applications (dApps) on LayerZero to leverage the Google Cloud oracle for transaction verification. Thus, it increases security and reliability.
Altcoin project LayerZero: Interoperability solution
LayerZero facilitates seamless communication. It allows the transfer of data, assets and information between different blockchains without compromising security. Accordingly, it stands out as an interoperability protocol. One of LayerZero’s unique features is that it offers multiple oracles, known as validators, that are responsible for securing cross-chain functionality in dApps.
Each oracle acts based on predefined validation logic. It also operates as a separate network that is responsible for validating or rejecting cross-chain messages.
Rapid growth and Google Cloud integration for altcoin
LayerZero Labs has witnessed significant growth since its inception. On the other hand, it currently processes approximately 10 million messages every month. Accordingly, with Google Cloud oracle integration, LayerZero will verify messaging on 15 chains, including altcoins Ethereum, Arbitrum, Optimism, Polygon, BNB and Avalanche. On the other hand, this strategic partnership is part of LayerZero Labs’ goal of creating a secure cross-chain environment. It also aligns with its mission to accelerate the adoption of Web3 technologies by businesses.
LayerZero Labs CEO Bryan Pellegrino says the following on the subject.
“Google Cloud is the perfect partner to act as the default authenticator that secures messaging. Because it has been a leader in security for decades. It also now brings the same quality to the core of the LayerZero protocol. From the beginning, we designed LayerZero to provide the ultimate option for a truly decentralized architecture. LayerZero’s exponential growth is noteworthy. Google Cloud is the perfect partner to act as the default oracle, as it currently handles over 95% of all cross-chain messaging.”
Scaling for seamless user experience
LayerZero has painstakingly scaled its systems to accommodate more than 40 billion Remote Procedure Calls (RPC) calls per month, relying on Google Cloud’s fully managed node hosting solution, Blockchain Node Engine (BNE), as a critical provider for RPC connections. Currently, LayerZero hosts more than 24,000 different contracts on its omnichain infrastructure. It also facilitates the bridging of over $20 billion on its platform.
An important partnership
Google Cloud Web3 President James Tromans says the following on the subject.
“At the core of Google Cloud’s Web3 strategy is collaborating with protocols that bring unique capabilities to the community and help make it easier for developers to build and scale applications on this network. Collaborating with altcoin project LayerZero as an oracle on 15 chains will not only increase the security of LayerZero’s cross-chain messaging capabilities. “It will also further accelerate its commitment to Web3 interoperability and enterprise adoption.”
As Kriptokoin.com, with this partnership, the altcoin project LayerZero Labs and Google Cloud increase the security and reliability of cross-chain messaging within the LayerZero ecosystem. On the other hand, it is preparing to strengthen the foundations of Web3 interoperability.
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