Crypto News

IOTA Network Unveils LayerZero Cross-Chain Messaging Tech, Price Hits 6% Increase

IOTA Network’s ShimmerEVM has unveiled plans to incorporate LayerZero’s cross-chain messaging technology, enabling users to engage and transact seamlessly across multiple networks.

Shimmer, situated within the IOTA ecosystem, serves as a blockchain platform granting developers access to unique features for creating and launching decentralized apps (dApps). ShimmerEVM, the platform’s layer compatible with Ethereum virtual machines, facilitates these functionalities.

LayerZero Smooth Communication Qualities 

LayerZero, a dedicated protocol addressing interoperability challenges, is renowned for its adept messaging protocol that facilitates smooth communication across various blockchain networks.

This messaging infrastructure is now integrated with ShimmerEVM, establishing a secure and transparent cross-chain messaging system. This strategic collaboration enhances the interoperability of decentralized applications (dApps) and creates a cohesive digital asset ecosystem within ShimmerEVM.

The integration marks a significant improvement in the Shimmer user experience, extending cross-chain communication both into and out of the Shimmer ecosystem.

Upon the announcement, the price of $IOTA experienced a rapid increase of over 6%, accompanied by a 100% surge in 24-hour trading volume.

As ShimmerEVM and LayerZero join forces, this development not only elevates the capabilities of the IOTA network but also underscores the growing importance of interoperability solutions in the evolving blockchain landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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