I often get asked why I work at @LayerZero_Labs.
To me, LayerZero is the most scalable, secure, and efficient cross-chain smart contract protocol currently available.
First some context. Before LayerZero, to send anything to a new chain, most dApps used some type of monolithic bridge:
- Centralized Provider: a centralized entity, manually delivering messages to the destination chain.
- Collection of Signers: a collection of different signers which verify the message before delivering.
- Middlechain Bridge: a blockchain which routes all messages through the hub chain, inheriting the security of the middlechain.
(Note: I'll define each of these "security mechanisms" as verifier networks).
While each verifier network came with trade-offs, all suffered from one common problem: a single verifier network determined which messages would be delivered on the destination chain.
If that security ever failed, due to centralization, a backdoor in the signer software, the middlechain lacking node client diversity, or upgradeable contracts, every application built on top of that verifier network suddenly had their security fail too.
No matter which verifier network you pick, the reality is that you now depend entirely on that sole network to verify your messages correctly.
Being locked into a single verifier network means that in the best case, your application needs to fully redeploy to avoid being exposed to a security vulnerability.
In the worst case, not just your application, but every application and user interacting with that verifier network faces cataclysmic losses (source: the rekt leaderboard and the socket hack just a few months ago).
How does LayerZero solve this?
LayerZero is an immutable, censorship-resistant, and permissionless smart contract protocol that enables anyone on a blockchain to send, verify, and execute messages on a supported destination network.
Reason 1: Immutable Contracts
To send and receive messages on a target blockchain, a non-upgradeable LayerZero Endpoint contract must be deployed to that chain.
This Endpoint contract acts as the entry and exit point for the protocol, enabling applications and users to:
- Send messages from the source blockchain (Endpoint.send).
- Configure application security (Endpoint.setConfig).
- Configure execution settings (Endpoint.setConfig).
- Quote cross-chain transaction gas costs (Endpoint.quote).
- Receive messages on the destination chain (Endpoint.lzReceive).
- Debug and retry failed messages (Endpoint.lzReceive).
and a handful of other utilities.
The LayerZero Endpoint provides users a predictable, immutable interface for sending arbitrary data, external function calls, and tokens.
Anytime you need to send or receive messages, all you need to do is interact with the LayerZero Endpoint contract on that chain.
Reason 2: Modular Security
LayerZero allows applications to configure any number and type of decentralized verifier networks (DVNs) to verify their cross-chain messages.
Instead of every application depending on the same verifier network, each application now has a unique verifier configuration called a Security Stack, allowing developers to maintain access controls on arguably the most important part of their application.
New verifier networks can be added at anytime using these access controls, future-proofing cross-chain applications to the latest and greatest verification techniques (for example, @PolyhedraZK's zkLightClient).
This means that dApps don't need to accept a one-size-fits-all model for cross-chain messaging, and instead actually can control how messages are verified on the destination chain.
Teams are starting to realize that this means they can build omnichain dApps with variable security based on their use cases, message volume, domains, etc. In terms of cross-chain messaging, it's a new frontier for devs to explore.
Reason 3: Permissionless Execution
Because anyone can interact with the LayerZero Endpoint on the destination chain, LayerZero offers permissionless message execution.
Once a message has been verified by an application's chosen decentralized verifier networks (DVNs), that message can be executed by calling the Endpoint's lzReceive method.
In most cases, this execution is done automatically by an application's configured Executor, a production asset run in the ecosystem which automatically delivers messages after verification.
This Executor fully abstracts gas on the destination chain, allowing users to pay for gas only using the source chain's gas token, and add specific execution options for the cross-chain message.
Anyone can develop and run their own Executor, and should a configured Executor ever disappear, these messages can still be permissionlessly executed at anytime.
The Big Picture
When LayerZero talks about the idea of an omnichain application, we refer to this idea where your smart contracts can control how their messages are sent, verified, and executed on any blockchain in the network.
It's a fundamentally better system, where developers don't have to hand the keys away to the most critical component of their decentralized application.
Instead, use a smart contract protocol that gives you an easy, secure, and future-proof interface to send anything between blockchains.
Want to get started?
Head to our docs (link in bio), or leave a comment / DM!
And remember, LayerZero is permissionless, censorship-resistant, and immutable.
For the first time, $HYPE is live on Robinhood Chain, brought to you by Sushi in partnership with @LayerZero_Core.
Buy, trade, provide liquidity and launch tokens with $HYPE on Sushi.
This is Sushi's first move to make the most important assets multichain and available on Robinhood Chain.
"We move $10–15B of value per month, hold 91% share of cross-chain value transfer, connect 165+ blockchains, and have 900+ applications built on the protocol. ~71% of the world's stablecoin supply is issued using the LayerZero OFT standard."
Well when you put it like that...
Regulated stablecoins, everywhere.
@Anchorage, home to America’s first federally chartered crypto bank, has selected LayerZero as its interoperability partner for regulated stablecoin issuance.
If you're bullish on new chains and new asset launches, you should be bullish interop volume.
If you're bullish interop volume, you're bullish LayerZero.
LayerZero's volume share is at multi-year high and maybe even at all-time highs.
Back over $10B monthly, market share cross 90% for I think maybe the first time ever. Slowly but surely, we're continuing to move the frontier forward.
New from LayerZero Research - Challenging Poseidon
Today we’re sharing two new papers outlining a number of structural weaknesses in Poseidon, one of the most widely used hash functions in zero-knowledge proving systems.
https://t.co/lYp2uz4D6a
There are a series of posts today talking about Wyoming/FRNT that is so wildly hyperbolic and 'hit-piece-y' it feels like we must respond to it.
Here is the exact history
- We deployed the FRNT token on Solana on behalf of Wyoming. They had requested for it to be deployed with 'All extensions initialized'
- We handed over all related Token2022 extensions except for the 'Scaled UI Amount authority' that was missed by both Wyoming and us.
- This extension is UI scalar amount only. It can not mint, burn, freeze, seize, pause, transfer funds, change token supply, or modify raw balances. It was never modified and remained at 1 for the entire period.
- As soon as it was flagged that this had not been transferred, it was transferred to Wyoming within 24 hours
DLP5sGaLm596Fa8PCNPYNofFK1cZxzME7csK3xBsABCT
→
3FL7iZaerXVygpPAFtXyxoCGdoUt11eiSBYkko6mMD8x
The 'Scaled UI Amount Authority' is a view-only metadata account. There is also a claim that the key to this function was lost which is both wrong and a strange claim to make given you can see it being transferred on-chain and it was less than 24 hours from request to confirmed transfer.
As always I have nothing bad to say about @wyostable. I think they've been trying something really innovative and I wish them nothing but the best of luck. I continue to be a champion of what @wyoapollo and team are trying to do.
💥TODAY: a16z crypto launches Lattice Jolt, a post-quantum zkVM with 2x to 3x faster proving and proofs under 100 KB.
Lattice Jolt uses Akita, developed by LayerZero, to bring lattice-based post-quantum security to zero-knowledge proving systems.
LayerZero has achieved Type 1 and Type 2 SOC 2 accreditation for all of its infrastructure.
SOC 2 is the de facto standard for evaluating a company's security practices. This accreditation, combined with the modular, developer-owned security model that the world's largest institutions require, ensures that LayerZero remains the ideal home for the world's most important assets.
Most investors do not appreciate the important role that @LayerZero_Core is playing in crypto messaging and interoperability. I am so impressed with the vision of Bryan, Simon, and the team.