Gelato Network drives interoperability advancements by integrating LayerZero V2.
Posted: February 2, 2024 9:07 AM Updated: February 2, 2024 11:24 AM
Correction and fact check date: February 2, 2024, 9:07 AM
briefly
Gelato Network integrates LayerZero V2 to help Gelato RaaS users solve interoperability issues.
Web3 relay network Gelato Network announced integration with LayerZero V2, a cross-chain transport protocol. This integration is set up to help Gelato rollup-as-a-service (RaaS) users solve interoperability issues within an environment with numerous layer 2 solutions, application-specific blockchain, and rollup scaling solutions.
LayerZero V2 serves as the fundamental transport layer for the blockchain economy and provides the essential elements of security, composability, and scalability needed to enable seamless cross-chain interoperability. The core of the LayerZero V2 verification module is Gelato DVN1, and together they provide a comprehensive cross-chain messaging solution specifically designed for Gelato RaaS users.
Gelato DVN1 differentiates itself through consensus, a decentralized validator designed to eliminate single points of failure. In this system, three out of five Gelato validators execute transactions in parallel to increase reliability.
All Gelato DVN1 implementations undergo verification and security measures supported by projects such as Bware Labs, Chorus One, P2P Validator, and Stake Facility to ensure asset protection exceeding $3.5 billion for leading Web3 protocols.
Gelato DVN1 also claims to be one of the most decentralized, secure, and scalable validators within LayerZero V2, with a current user base of over 70,000 active delegators.
Gelato Network commented on the new integration in a social media post on Platform This collaboration represents a significant step forward in strengthening the nascent Omnichain messaging protocol.
Gelato Network shapes the future of Web3 automation.
Gelato Network is a Web3 automation network that helps developers automate and relay the execution of various smart contracts on a variety of EVM-based compatible blockchains, including Ethereum, Polygon, Fantom, Arbitrum, BNB Chain, and Optimism.
Gelato Network has expanded its offerings to include more than three flagship products: Gelato Ops, Sorbet Finance, and Gelato Relay. The overarching goal is to provide developers with a reliable, scalable, and decentralized network to outsource Web3-related DevOps operations. Currently, Gelato Network has earned the trust of over 200 web3 projects and serves as a critical infrastructure for executing millions of transactions within the DeFi, NFT, and gaming realms.
Recently, Gelato Network closed its A+ funding round, with IOSG Ventures leading the investment. The injection of new capital is intended to strengthen Gelato Network’s existing capabilities and capabilities. The project is expected to evolve into the largest decentralized development technology stack within the Web3 ecosystem.
Gelato Network’s strategic integration of LayerZero V2 will help users address interoperability challenges in the evolving landscape of Web3 and shape the dynamic future of distributed technologies.
disclaimer
In accordance with the Trust Project Guidelines, the information provided on these pages is not intended and should not be construed as legal, tax, investment, financial or any other form of advice. It is important to invest only what you can afford to lose and, when in doubt, seek independent financial advice. Please refer to the Terms of Use as well as the help and support pages provided by the publisher or advertiser for more information. Although MetaversePost is committed to accurate and unbiased reporting, market conditions may change without notice.
About the author
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
more articles
alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
more articles