Both Flare and LayerZero have officially announced that Flare will join LayerZero’s cross-chain verification network as a DVN.
Unlike many DVNs operated by a single entity, Flare’s DVN is backed by 100 independent data providers on Flare—the chain’s validators. Each cross-chain message must first be independently checked against the source chain by these providers, and is only confirmed once a staking-weighted majority agrees.
The official announcement noted that the OFT cross-chain token standard already covers more than 80% of cross-chain dollar volume, and is used by issuers including Tether, PayPal, Paxos, and Ondo. Flare’s DVN is scheduled to launch first on Flare and Ethereum in early December, after which issuers can add it to their security setup as needed.
#Flare $FLR #LayerZero
Unlike many DVNs operated by a single entity, Flare’s DVN is backed by 100 independent data providers on Flare—the chain’s validators. Each cross-chain message must first be independently checked against the source chain by these providers, and is only confirmed once a staking-weighted majority agrees.
The official announcement noted that the OFT cross-chain token standard already covers more than 80% of cross-chain dollar volume, and is used by issuers including Tether, PayPal, Paxos, and Ondo. Flare’s DVN is scheduled to launch first on Flare and Ethereum in early December, after which issuers can add it to their security setup as needed.
#Flare $FLR #LayerZero
