LayerZero, a cross-chain interoperability protocol, has announced the launch of a new Layer 1 blockchain, dubbed Zero, that aims to address “long-standing scalability challenges” in blockchain, according to a press release shared with The Defiant.
The new blockchain — backed by heavyweight collaborators including Citadel Securities, The Depository Trust & Clearing Corporation (DTCC), Intercontinental Exchange (ICE), and Google Cloud — is positioned as core infrastructure for financial markets, rather than just another platform for crypto apps, the developers said.
Alongside the launch, LayerZero said Citadel Securities, a multi-billion-dollar market maker, is making a strategic investment in the network’s ZRO token. ARK Invest is also coming on board as a holder of LayerZero equity, as well as its native token.
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
