News Report Technology
February 02, 2024

Gelato Network Integrates LayerZero V2 to Drive Interoperability Evolution

Gelato Network Integrates LayerZero V2, Drives Interoperability Evolution

Web3 relay network Gelato Network announced its integration with the cross-chain transmission protocol LayerZero V2. This integration is set to assist Gelato rollup-as-a-service (RaaS) users in addressing interoperability challenges within an environment featuring innumerable Layer 2 solutions, application-specific blockchains and rollup scaling solutions.

LayerZero V2 serves as the foundational transport layer for the blockchain economy, delivering the essential elements of security, configurability, and extensibility required to enable seamless cross-chain interoperability. At the core of LayerZero V2’s verification module is the Gelato DVN1, collaboratively offering a comprehensive cross-chain messaging solution specifically designed for users of Gelato RaaS.

Gelato DVN1 distinguishes itself through its decentralized validator consensus, designed to eliminate single points of failure. In this system, three out of five Gelato validators execute transactions in parallel, enhancing reliability.

All Gelato DVN1 executions undergo verification and security measures upheld by such projects as Bware Labs, Chorus One, P2P Validator, and Staking Facilities to ensure the safeguarding of assets exceeding $3.5 billion for major Web3 protocols.

Furthermore, Gelato DVN1 claims to be one of the most decentralized, secure, and scalable verifiers within LayerZero V2, with a current user base exceeding 70,000 active delegators.

Commenting on the new integration in a social media post on platform X, Gelato Network conveyed its enthusiasm at joining esteemed entities such as Google Cloud, Animoca Brands, Polyhedra Network and other prominent LayerZero DVN verifiers. This collaboration marks a significant stride in empowering the initial omnichain messaging protocol.

Gelato Network Shapes the Future of Web3 Automation

Gelato Network is a Web3 automation network that facilitates developers in automating and relaying various smart contract executions across a spectrum of EVM-based compatible blockchains, including Ethereum, Polygon, Fantom, Arbitrum, BNB Chain and Optimism.

Gelato Network has expanded its offering to include more than three flagship products, such as Gelato Ops, Sorbet Finance, and Gelato Relay, among others. The overarching objective is to provide developers with a reliable, scalable, and decentralized network, offering the outsourcing of their Web3-related DevOps operations. As of now, Gelato Network has garnered the trust of over 200 web3 projects, serving as a vital infrastructure for executing millions of transactions within the realms of DeFi, NFTs and Gaming.

Recently, Gelato Network concluded its A+ round of financing, with IOSG Ventures leading the investment. The infusion of new capital is intended to bolster Gelato Network’s existing capabilities and functionalities. The project anticipates evolving into the largest decentralized development tech stack within the Web3 ecosystem.

Gelato Network’s strategic integration of LayerZero V2 is set to benefit its users in addressing interoperability challenges in the evolving landscape of Web3, shaping the dynamic future of decentralized technologies.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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