Share this article
BTC
$82,891.82
+
2.51%ETH
$1,549.05
+
0.26%USDT
$0.9995
+
0.03%XRP
$2.0132
+
0.35%BNB
$584.88
+
0.91%SOL
$119.97
+
3.97%USDC
$0.9999
+
0.01%DOGE
$0.1584
+
0.95%TRX
$0.2428
+
2.76%ADA
$0.6193
-
0.79%LEO
$9.3356
-
0.89%LINK
$12.52
+
0.88%AVAX
$18.88
+
1.79%XLM
$0.2333
+
0.31%SHIB
$0.0₄1211
+
1.51%SUI
$2.1657
-
0.28%TON
$2.8336
-
3.16%HBAR
$0.1660
-
2.69%BCH
$312.10
+
5.19%OM
$6.4137
-
0.37%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Crypto Bridge LayerZero Connects to Solana Blockchain
Crypto holders on Solana will be able to move their assets to Arbitrum, Ethereum, Polygon and the 70 other chains it links to – and vice versa.
Crypto bridging protocol LayerZero is set to expand to the Solana blockchain on Wednesday, adding another route for crypto assets transferring between the Ethereum world and its largest singular competitor.
Crypto holders on Solana will be able to move their assets to Arbitrum, Ethereum, Polygon and the 70 other chains it links to – and vice-versa, Layer Zero Labs, the company developing the bridging protocol, said.
STORY CONTINUES BELOW
LayerZero is a so-called bridging platform: a messenger between blockchains that don’t naturally communicate with each other. Its users moved $6.7 billion worth of cryptocurrencies in the first quarter of 2024, generating $11.5 million in revenue, according to research outfitMessari.
Private venture investors valued LayerZero Labs at $3 billion in a majorfunding round announced in April. The protocol is expected to issue its own token shortly.
Solana, whose native token $SOL is the fifth-largest cryptocurrency by market cap per CoinGecko, has three other major bridging protocols that link it to the far-larger Ethereum ecosystem, most notably Wormhole.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
