TechFlow news, September 16 — LayerZero, a full-stack interoperability protocol, has raised $6 million in a Series A funding round led by Multicoin Capital and Binance Labs, with participation from Sino Global Capital, Defiance, Delphi Digital, Robot Ventures, Spartan, Hypersphere Ventures, Protocol Ventures, Gen Block Capital, and Echelon Capital. LayerZero is a novel interoperability protocol designed to connect different blockchains. Interoperability relies on message passing between chains; current solutions achieve this either through intermediary chains (e.g., Polkadot) or by deploying paired on-chain light clients (e.g., Cosmos IBC). LayerZero is expected to launch in early Q4 of this year. The protocol previously raised $2 million in a seed round in April.
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