About Layer Zero, which PayPal also uses Most people think of Layer Zero as a "bridge," but in fact, PayPal also uses Layer Zero, and a16z has invested in it. I've omitted most of the difficult technical terms. 🥲Blockchain Problems: Fragmentation USDT on Ethereum and USDT on Solana... While they may have similar names, they're technically completely different coins. So, in the past, transferring them involved burning bridges and receiving wrapped tokens... the process was complex and prone to security breaches. 👉Layer Zero's Solution So Layer Zero came up with a solution: a standard that ensures coins work the same across all chains. We call it OFT. ✅So why infrastructure? When we use Binance, we don't think, "Oh, the AWS server is great," right? But if AWS goes down, all the exchanges and services go down. Layer Zero is in that exact position. Currently, 165 blockchains are connected. 71% of issued stablecoins use the LayerZero standard (OFT). PayPal (PYUSD) also uses this technology to enable cross-chain remittances. Developers simply build their apps on top of this platform, and they can support users on all 165 chains. 💡 Summary in One Line LayerZero is an invisible infrastructure that connects all blockchains into a single network, allowing users to conveniently trade coins without worrying about the chain! This content was created in collaboration with LayerZero.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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