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Flare partners with LayerZero as decentralized verifier network provider

Flare is joining LayerZero as a Decentralized Verifier Network provider, validating cross-chain messages through stake-based voting across 100 independent data providers.

Logos of Flare Network and LayerZero displayed side by side against white and black backgrounds.
Image: @BSCNews

Flare is partnering with cross-chain protocol LayerZero to operate as a Decentralized Verifier Network (DVN) provider, according to announcements reported by BSCN and crypto.news. The network will use Flare's own consensus engine to verify cross-chain message transfers.[1][2][3]

Under the integration, cross-chain messages routed through the Flare DVN will require approval from a majority of Flare's 100 independent data providers via stake-based voting before they can execute on destination chains. Once deployed, token issuers will have the option to incorporate the Flare DVN into their selected security architecture.[1][2][3]

BSCN noted that LayerZero's Omnichain Fungible Token (OFT) standard handles over 85% of multi-chain stablecoins from issuers including Tether, PayPal, Paxos, and Ondo, describing the collaboration as bringing XRP Finance to LayerZero.[2]

Key facts

  • Flare is joining LayerZero as a Decentralized Verifier Network (DVN) provider powered by its own consensus engine.
  • Cross-chain messages validated by Flare's DVN require majority approval from 100 independent data providers via stake-based voting before destination-chain execution.
  • Token issuers will be able to include the Flare DVN in their chosen cross-chain security setups following deployment.
  • LayerZero's Omnichain Fungible Token standard oversees more than 85% of multi-chain stablecoins issued by firms including Tether, PayPal, Paxos, and Ondo.

Sources · 3 sources

  1. CN

    crypto.news@cryptodotnewsPost on X ·

    JUST IN: Flare joins LayerZero as a decentralized verifier for cross-chain transfers Its DVN will use Flare's consensus engine, requiring approval from a majority of 100 independent data providers through stake-based voting before cross-chain messages are executed. https://t.co/sOLtMMHIn4

    Open source
  2. BS

    BSCN@BSCNewsPost on X ·

    Flare is bringing XRP Finance to LayerZero Flare (@FlareNetworks) will partner with LayerZero (@LayerZero_Core) as the Decentralized Verifier Network (DVN) provider, with its own consensus engine. LayerZero Omnichain Fungible Token (OFT) standard manages over 85% of all multi-chain stablecoins issued by companies such as Tether, PayPal, Paxos, and Ondo. After deployment, token issuers can add Flare DVN to the security architecture of their choice. Cross-chain messages must be validated by a majority of Flare's 100 independent data providers on a stake-based voting principle before execution on the destination chain.

    Open source
  3. TW

    The Wolf Of All Streets@scottmelkerPost on X ·

    FLARE $FLR JOINS LAYERZERO $ZRO AS A DECENTRALIZED VERIFIER NETWORK BACKED BY 100 INDEPENDENT DATA PROVIDERS https://t.co/Rrawot2ftF

    Open source