LayerZero is a blockchain protocol designed to address interoperability between different blockchain ecosystems. It is built on the premise of unified cross-chain development, known as “omnichain.” It aims to be the foundational layer for a network where any blockchain interoperates seamlessly, earning it the name “blockchain of blockchains.” 

LayerZero was founded by Bryan Pellegrino, Ryan Zarick, and Caleb Banister to unlock the full potential of Web3. The increasing number of blockchain networks and their rapid growth led to one problem: fragmentation. LayerZero acts as the base layer for communication between blockchains to unify all these networks in one layer.

The salient features of LayerZero (ZRO) are: 

• Cross-chain interoperability enables interaction and communication across different blockchains.

• Ultra Light Nodes (ULNs) ensure security with low computation and enhance scalability.

• LayerZero utilizes both relayers and oracles to ensure decentralized control and increased security. Relayers send transaction proofs and oracles to provide validation data.

• LayerZero’s security protocol requires relayers and oracles to reach a consensus on validating transactions. This reduces fraud risk and enhances system security.

ZRO is a new crypto that was launched in June 2024. Despite its newbie tag, the crypto ranks among the top 42 in trading volume, underlining investor interest in the digital asset. ZRO is in a nascent stage and long-term investors are betting on the token to grow in price. The token, currently trading at $2.50 as of June 2024, is poised to surpass $4 by 2030, according to analyst forecasts. With the DeFi sector gaining traction, the price of ZRO could exceed expectations. 

• ZRO can be used to move tokens between different blockchains.

• ZRO token holders can participate in staking their ZRO tokens to earn rewards while contributing towards network security.

• Like other cryptos, investors can buy, sell, or trade ZRO on crypto exchanges that support the token such as CoinSwitch.

• ZRO holders can vote on protocol on-chain decisions and proposals to help shape the future of LayerZero.

• The platform is funded by investors, including FTX Ventures, Sequoia Capital, and Andreessen Horowitz.

• The valuation of ZRO surged from $1 billion to $3 billion in a short time since its launch.

• The platform enables seamless interoperability between dApps across multiple blockchains.

• ZRO is subject to the high volatility of the crypto market.

• LayerZero is still a developing ecosystem.

• The token is yet to become a mainstream crypto.

• You can buy ZRO for just ₹100 at CoinSwitch.

• Trade ZRO at a nominal fee.

• With CoinSwitch, users can seamlessly manage transactions and portfolios.

LayerZero has attracted some of the most prominent investors in the crypto space, such as a16z, Sequoia, Paypal Ventures, Polygon, Coinbase Ventures, Binance Labs, DeFiance Capital, Spartan Group, Sino Global Capital, and Multicoin Capital. The company raised $135 million in a Series B round in March 2022 and another Series B of $120 million in April 2023.