In an announcement on August 27, Harmony’s Horizon bridge announced the selection of LayerZero as a bridge partner to resume Horizon after careful consideration.
LayerZero is an omnichain interoperable protocol specifically designed for lightweight messaging across blockchains. LayerZero’s implementation of stargate.finance is the fastest growing DeFi protocol reaching $4.4 billion TVL 2 weeks after launch.
Currently the protocol is working on 7 blockchains such as Ethereum, BSC, Avalanche, Polygon, Arbitrum, Optimism and Fantom. LayerZero is currently live on 16 mainnets and many other test networks.
The developers of Harmony stated the reason for choosing LayerZero because of its outstanding protocol in terms of technical strength, security and support from leading VCs and ecosystem developers.
“When evaluating our choices for bridge partner, LayerZero stood out in terms of technical strength, security, and support from top-tier VCs and ecosystem developers. We believe they are the right partner for Harmony as we resume Horizon bridge.”
Stephen Tse, Founder of Harmony said
In addition, Horizon has replaced the previously existing multisig authentication layer with LayerZero’s authentication layer. This greatly reduces risk, as Harmony does not need to maintain any backend infrastructure.
As was previously updated, on June 23, the Horizon crossbow underwent a massive attack worth over $100 million. The hack was quickly discovered and the project halted Horizon to investigate the vulnerability, as well as notify exchanges to prevent hackers from laundering money.
The project’s ONE token is currently trading at $0.01814 down 0.49% in 24 hours.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
CoinCu News
MicroStrategy Bitcoin holdings are now more than any country, with 214,400 BTC worth $13.6 billion.
The highly anticipated Bitcoin Seoul 2024 conference is gearing up to be a revolutionary event…
As an experimental festival, Non-Fungible Conference aims to revolutionize event frameworks, offering attendees a glimpse…
Blockchain Week Rome 2024 is set to unite the Italian and international crypto communities in…
The eagerly anticipated BlockSplit conference, a premier gathering for blockchain enthusiasts, is set to take…
Despite market downturns, over 95% of Bitcoin ETF investors have held onto their assets, demonstrating…
This website uses cookies.