Cross-Chain Transactions

Enhancing Cross-Chain Applications with Flare and Polyhedra's zkBridge

Wednesday. August 28 at 5:30 PM

1 min. read

The Polyhedra community has recently approved the integration of Flare with Polyhedra's zkBridge DVN, enabling Flare developers to create secure cross-chain applications using LayerZero. This integration leverages ZK proofs to ensure cryptographic guarantees, making zkBridge a trustless and efficient cross-chain interoperability protocol. With support for over 30 layer-1 and layer-2 networks, zkBridge has verified millions of cross-chain transactions using zkSNARKs. The addition of Polyhedra's zkBridge enhances the security of LayerZero's interoperability protocol, facilitating the seamless flow of value between networks. Flare, known for its data-intensive use cases, is set to benefit from zkBridge's capabilities in creating powerful cross-chain financial applications for DeFi. The integration signifies growing support for Flare and the value of ZK technology in enabling decentralized data acquisition and asset flow across networks.

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Worldcoin Integrates World ID with Solana via Wormhole Foundation

Saturday. September 14 at 4:30 AM

Worldcoin recently announced the launch of seamless World ID integration for the Solana blockchain through a new cross-chain protocol developed by the Wormhole Foundation. The integration, completed just two and a half months after receiving a Wave1 Community Grants award, enables Solana network support. World ID, operating on Worldcoin's layer-2 Ethereum chain, serves as a privacy-focused human verification service for secure logins to decentralized applications (DApps) without compromising user data. This collaboration allows Solana developers to easily incorporate World ID authentication into their DApps, ensuring cross-chain compatibility with Ethereum services. With over 6.6 million users as of July 31, 2024, Worldcoin continues to experience growth, expanding its services in Austria and Southeast Asia. The Malaysian government has even adopted World ID as its standard authentication service, emphasizing the company's global reach and impact.

Cross-Chain Transactions

Soneium Enhances Capabilities Through Chainlink Integration

Friday. September 13 at 1:00 PM

Soneium, an Ethereum Layer-2 network, has partnered with Chainlink's Scale program, granting access to Chainlink's Data Feeds and Cross-Chain Interoperability Protocol (CCIP) services. This collaboration aims to improve Soneium's Minato Testnet by providing off-chain data for smart contracts and enabling seamless interoperability with other blockchains. The integration with Chainlink's proven infrastructure ensures high traffic handling, support for complex applications, and smooth onboarding experiences. Sony Block Solution Labs introduced Soneium to offer Web3 technologies to its user base, emphasizing its developer-friendly capabilities. The collaboration positions Soneium to lead the evolution of Web2 through the adoption of Chainlink's CCIP. Chainlink's LINK token has seen a 2% increase in the last 24 hours, trading at $10.55. CryptoSlate provides valuable insights on various topics, including DeFi, mining, and culture, with a focus on crypto reporting and market analysis.

Cross-Chain Transactions

Integration of cbBTC into Aave V3 Proposal

Thursday. September 12 at 8:30 AM

Aave DAO has proposed integrating Coinbase's cbBTC into its V3 on Base and Ethereum mainnet. The new Bitcoin wrapper, cbBTC, is set to launch soon following the Wrapped Bitcoin (WBTC) controversy. Aave's founder, Stani Kulechov, aims for Aave to be the top protocol for Tier-1 asset launches. The proposal suggests that cbBTC will offer more options for Bitcoin holders in DeFi activities on Aave v3, increasing liquidity and engagement. This integration would provide users access to Coinbase's liquidity and borrowing features. The collaboration between Coinbase and Aave is expected to attract more users and benefit both platforms. Aave is also enhancing its lending and borrowing sector by introducing an EtherFi market to its v3 protocol, boosting liquidity and efficiency. These developments have led to a significant increase in the value of the AAVE token, rising by over 30% in the past month.

Cross-Chain Transactions

Enhancing WBTC Interoperability with LayerZero's OFT Standard

Wednesday. September 11 at 4:00 AM

Cryptocurrency custody platform BitGo has integrated LayerZero’s Omnichain Fungible Token (OFT) Standard for its Wrapped Bitcoin (WBTC), allowing the token to function across various blockchain networks. BitGo is introducing WBTC on Avalanche and BNB Chain, expanding to more chains in the future. Previously, WBTC was accessible on Ethereum, Base, Tron, and Polygon. WBTC is a tokenized form of Bitcoin (BTC) enabling users to utilize BTC in decentralized finance (DeFi) activities like trading and lending. Each WBTC is backed by Bitcoin at a 1:1 ratio. By adopting LayerZero’s OFT Standard, BitGo's WBTC can now operate under a unified framework, simplifying cross-chain transactions. BitGo will retain control over WBTC contracts and deployment, extending to over 80 chains. Transactions will be validated through a decentralized verifier network. This move follows BitGo's shift to a multi-jurisdictional custody structure, aiming to mitigate geographic risks.

Cross-Chain Transactions