Bridge Protocol LayerZero Passes 50M Cross-Chain Messages

Bridge protocol LayerZero surpassed 50 million messages between various blockchains on Tuesday, a landmark for the interoperability platform.

This comes more than three months after LayerZero Labs, the team developing LayerZero, raised $120 million from 33 backers, including Andreessen Horowitz, auction house Christie’s, Sequoia Capital and Samsung Next.

LayerZero’s milestone highlights the demand for crypto users to transfer liquidity between chains and conduct cross-chain token swaps, despite the possible vulnerabilities.

Bridge exploits accounted for more than $2 billion in stolen assets in 2022, according to data from blockchain analytics firm Chainalysis.