Meter Foundation takes immense pride in revealing the sheer possibilities of cross-chain on the Meter network and with the incorporation of LayerZero protocol. LayerZero is basically an omnichain interoperability protocol that provides the opportunity for cross-chain all-inclusive message forwarding on the Meter network. The protocol backs asset transfers along with NFT transfers. It will now be possible for decentralized applications spread over thirty backed blockchains to utilize the LayerZero protocol for linking up with the Meter network. In turn, the connected users will be able to carry out interactions with assets through multiple chains in a safe way.
Layerzero is responsible for linking the decentralized applications spread over its omnichain network consisting of over thirty backed blockchains. For this, it utilizes on-chain ultra-light nodes (ULN). The ULNv2 authentication library depends on the Oracle and Relayer for forwarding messages to on-chain endpoints. In the case of layerZero forwarding a message from chain A to chain B, it passes across the chain A endpoint to the ULNv2 authentication library.
The library, in turn, signals Oracle, as well as Relayer and the targeted chain regarding the message. The Oracle then takes the initiative of passing on the packet hash towards the chain B endpoint, while the Relayer hands over the packet for authentication, on-chain, pertaining to the hash, to complete the process of passing on the message.
LayerZero protocol helps in strengthening dApps via cross-chain abilities and safety. In the case of dApps, which utilize the protocol for reasons of interoperability, LayerZero advises the use of OFTv2 (Omnichain Fungible Token) parameters for tokens that back EVM and non-EVM blockchains.
The meter is a Layer 1 blockchain that comes with the freedom to use and fairness in its functioning. It is decentralized and is equipped with censorship and MEV resistance. The blockchain’s metastable gas token is secure money, free of the fiat model.