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IOTAs – Cryptocurrencypanther https://cryptocurrencypanther.com Latest Crypto News Wed, 27 Dec 2023 14:53:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://cryptocurrencypanther.com/wp-content/uploads/2021/07/cropped-Cryptocurrency-e1626714913653-32x32.png IOTAs – Cryptocurrencypanther https://cryptocurrencypanther.com 32 32 IOTA’s ShimmerEVM integrates LayerZero for cross-chain communication https://cryptocurrencypanther.com/2023/12/27/iotas-shimmerevm-integrates-layerzero-for-cross-chain-communication/ https://cryptocurrencypanther.com/2023/12/27/iotas-shimmerevm-integrates-layerzero-for-cross-chain-communication/#respond Wed, 27 Dec 2023 14:53:53 +0000 https://cryptocurrencypanther.com/2023/12/27/iotas-shimmerevm-integrates-layerzero-for-cross-chain-communication/

  • ShimmerEVM’s integration with LayerZero is expected to enhance cross-chain communication and DeFi on IOTA’s ShimmerEVM.
  • Connectivity includes with Ethereum, Polygon, Avalanche, Binance Smart Chain and Optimism among other chains.

IOTA’s ShimmerEVM has integrated with LayerZero to bring cross-chain messaging technology to users, according to an announcement published on December 27.

The integration extends ShimmerEVM’s connectivity to major blockchains, enabling further interoperability via a unified cross-chain ecosystem, Shimmer posted on X. Per details in its blog post, this move means users will now be able to interact and transact across several networks while within the Shimmer ecosystem.

ShimmerEVM’s cross-chain connectivity

Shimmer Shimmer is a blockchain platform within the IOTA ecosystem from where developers can build and deploy decentralised applications (dApps), with access to features currently unavailable on IOTA’s mainnet. ShimmerEVM is the Ethereum Virtual Machine-compatible layer of the platform.

Meanwhile, LayerZero is an omnichain interoperability protocol whose cross-chain messaging technology allows for communication across multiple blockchains.

ShimmerEVM’s leveraging of LayerZero’s messaging infrastructure extends this cross-chain communication capability to the broader Shimmer ecosystem. 

Following this collaboration, Shimmer is set to see an initial connection to other blockchain networks. These will include Ethereum, Polygon, Binance Smart Chain, Optimism, Avalanche, Arbitrum, Fantom and Base, the platform noted.

Interoperability with these networks means the exchange of assets and information is set to be easier, heralding a new era for DeFi within the ShimmerEVM ecosystem.

LayerZero’s integration with ShimmerEVM comes a few days after its collaboration with Blockdaemon. It also follows recent revelations of a potential LayerZero token launch in 2024. 

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