The Moonbeam parachain has integrated LayerZero’s cross-chain messaging protocol to broaden interaction in the Web3 space, CoinDesk reports.
The blockchain already uses the internal XCM service to connect parachains. According to Derek Yoo, CEO of Moonbeam’s parent company PureStake, the LayerZero solution will broaden messaging across networks including Ethereum, BNB Chain, Polygon and others.
Moonbeam expects this will spur developers to deploy their applications on the protocol. The integration is intended to help the blockchain become ‘a hub of activity’, said Derek Yoo.
“These messaging systems and network capabilities mean that your app will become fairly widespread across chains,” said Moonbeam’s chief.
In July, the parachain team, in partnership with DEX Osmosis, enabled token swaps between the Polkadot and Cosmos ecosystems.
Project obtained a parachain slot on Polkadot in November 2021 as a result of the second auction.
In March, LayerZero developers raised $135 million in a Series A+ funding round, valuing the project at $1 billion.
In May, media reported plans by the team to raise the project’s valuation to $3 billion through additional capital.
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