JeppopoThe LayerZero protocol revolutionizes cross chain communication by eliminating the need for intermediaries and expensive on chain light nodes. It leverages an innovative approach called 'Ultra Light Nodes' (ULN) and decentralized oracles to securely transfer messages between different blockchains.
It has a user friendly interface called ‘LayerZero Endpoint’ for users to send transactions across chains. Each Endpoint comprises four crucial modules: Communicator, Validator, Network, and Libraries.
The Communicator, Validator, and Network modules work together to ensure the messages are delivered accurately, as the Libraries module expands the interoperability of the LayerZero network by integrating new blockchains.
LayerZero employs two essential external services: an Oracle and a Relayer. These services facilitate the smooth exchange of messages between blockchains, enhancing the overall efficiency of the protocol. The Relayer and Oracle, however must be independent of each other to ensure the validity of the message delivery. This approach offers the advantages of enhanced security and is cost-effective.
The LayerZero team selected to use Chainlink and Band Protocol as their official oracles, however any orcacle provider could become part of this mechanism in theory. Show Less
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