LayerZero Now Live on Cronos EVM and zkEVM, Enhancing Cross-Blockchain Interoperability – BitRss

Cronos Labs and Layer Zero have announced that LayerZero, a leading cross-blockchain interoperability protocol, is now operational on Cronos EVM and Cronos zkEVM. This integration, which includes both mainnet and testnet networks, allows developers to create bridges, expand tokens, and develop numerous cross-blockchain applications. These applications will connect Cronos users to the aggregated liquidity of over 115 blockchain networks supported by LayerZero, including Ethereum, Solana, and most EVM-compatible layer 1 and layer 2 networks.

This development marks a significant milestone for Cronos, as hundreds of applications leveraging LayerZero can now offer their services to Cronos users. This access includes several billions of U.S. dollars of crypto assets securely hosted on Cronos. For Cronos EVM, an EVM-compatible layer 1 network built on the Cosmos SDK, this means users can seamlessly transfer assets between the Cosmos SDK ecosystem and numerous other EVM-compatible blockchains, as well as Solana. Cronos EVM achieves interoperability with the Cosmos SDK ecosystem via the Inter Blockchain Communication (IBC) protocol.

Enhancements for Cronos zkEVM

For Cronos zkEVM, the first Elastic Chain (layer 2) to launch in mainnet after ZKSync Era, users will continue to benefit from the native Ethereum bridge shared with more than 10 other Elastic chains. Additionally, they will have the option to execute faster cross-blockchain transfers with a broad range of layer 1 and layer 2 networks.

Ken Timsit, Managing Director of Cronos Labs, emphasized the importance of cross-chain interoperability for the Cronos project. He stated that the integration with LayerZero addresses significant security and liquidity challenges associated with the fragmentation of the crypto industry. Timsit also mentioned that by 2025, there is an expectation of greater connectivity between crypto projects and traditional finance.

Future Developments and Developer Support

While LayerZero primarily serves as a developer tool, these cross-blockchain functionalities are not yet available for most end users. More announcements are anticipated in the coming weeks. New cross-blockchain bridging options will be added as third-party links on the official Cronos bridge portals, available at cronos.org/bridge for Cronos EVM and zkevm.cronos.org/bridge for Cronos zkEVM. These will include new CRO ($0.12)/zkCRO and other token bridging options between Cronos EVM and Cronos zkEVM, which will be developed over the coming weeks.

Cronos Labs is prepared to support developers interested in utilizing these new functionalities. Beyond token bridging, Cronos Labs is keen to support decentralized applications that use LayerZero’s technology for various use cases. These include cross-chain prediction markets, tokenization of real-world assets, trading platforms for synthetic assets, cross-chain lending protocols, and liquid staking and restaking protocols.

For more details, the announcement can be found here.

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