😃What Is Layerzero?

LayerZero is built on the concept of unified cross-chain development, otherwise expressed through the term “omnichain”. In essence, LayerZero wants to be the base layer for a large mesh network where any blockchain can reliably communicate and exchange data with any other chain in the ecosystem. This vision is expressed through the name “LayerZero”, which nods to it being a foundational layer for communication between blockchains, be they Layer 1 or Layer 2.

LayerZero hopes to standardize application development across all chains, much like TCP/IP standardized internet development.

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How does LayerZero work?

The key to LayerZero is that it allows blockchains to communicate without the use of expensive on-chain light nodes, or non-secure middle chains. It does this with Ultra-Light Nodes, blockchain endpoints, decentralized third-party oracles, and relayers. Let’s see how each of these features helps layer zero operate.

🎥LayerZero Endpoint

Endpoints are how blockchains send, verify, and receive messages in LayerZero. Thus, each chain supported by the LayerZero protocol must deploy its own endpoint. LayerZero’s endpoints enable each supported blockchain to become part of a fully connected network. These endpoints act as nodes in this network, with each one having a direct connection to every other node, enabling cross-chain transactions directly with any other chain on the network.

🎥Ultra-Light Nodes
Ultra-Light Nodes (ULNs) are the function at the heart of LayerZero, as they carry out a key role in validating transactions through LayerZero. As a result, all LayerZero endpoints run ULNs, which are generally executed via smart contracts. Essentially, ULNs make it possible to verify the transactions between blockchains on LayerZero, without having to store all of the relevant transaction data on-chain.

🎥Oracle
A blockchain oracle is responsible for reading the block header from one chain (using the ULN) and sending it to another chain so that the receiving chain can verify the transaction. Oracles play a crucial role as they contribute half of the required information to help validate transactions.



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Storj to Participate in Media Tech Sustainability Summit on June

Storj is scheduled to speak at the Media Tech Sustainability Summit on June 25th. The event is focused on sustainability in media. Storj will be participating alongside partners Ad-Signal and Shadow Magic Studios. Refer to the official tweet by STORJ

📈 Neko Forecasting $STORJ for short-term correction and bounce from current marked demand zone for buy position.

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AltLayer (ALT) will unlock token on 25 june

On June 25, AltLayer is set to unlock over 100 million ALT tokens. These tokens are allocated for treasury, community, and ecosystem development.

📈 Neko Forecasting $YGG for short-term correction and bounce from current marked demand zone for buy position.

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Yield Guild Games (YGG) will unlock token on 27 june

In a few days, YGG will unlock a significant portion of its tokens. These tokens will be distributed among the community, developers, investors, and the treasury, further supporting the guild’s growth and ecosystem development.

📈 Neko Forecasting $YGG for short-term correction and bounce from current marked demand zone for buy position.

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Digital asset investment products experienced significant outflows for the second consecutive week, totaling $584m:

🎥Bitcoin saw $630m in outflows, but short positions also decreased by $1.2m
🎥Ethereum faced $58m in outflows, reflecting negative sentiment
🎥Multi-asset products had $98m in inflows, indicating investor interest in altcoins
🎥The US led with $475m in outflows, while Switzerland and Brazil saw inflows of $39m and $48.5m, respectively

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Linear to Hold Giveaway

Linear has announced a new giveaway event. The event, which involves the distribution of 1,000,000 LINA tokens, will run for four weeks, with ten winners being selected every week. Refer to the official tweet by LINA

📈 Neko Forecasting $LINA for short-term correction and bounce from current marked demand zone for buy position.

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Internet Computer to Participate in EthCC in Brussels on July 10th

Internet Computer is hosting a full day of Chain Fusion festivities at the EthCC conference on July 10th in Brussels. The event will be focused on multichain topics. Refer to the official tweet by ICP

📈 Neko Forecasting $ICP for short-term correction and bounce from current marked demand zone for buy position.

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🪙Bitget launches $20M TON ecosystem fund

Bitget is launching a $20 million TON Ecosystem Fund in alliance with Singapore-based investment firm Foresight Ventures, according to an announcement shared at x post

The $20 million TON Ecosystem Fund aims to support early-stage projects on TON amid the rise of TON-based applications and the native cryptocurrency, Toncoin (TON).

The fund is designed to fully support project development within the TON ecosystem, including providing liquidity on the Bitget platform, the announcement notes.

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📈Bybit Surpasses Coinbase's Crypto Trading Market Share

Bybit has surpassed Coinbase to become the second-largest cryptocurrency exchange in terms of volume, according to a recent report published by Kaiko. It is now only behind Binance, which dominates the market.

The report outlined that Bybit’s market share surged from 8 percent in October 2023 to 16 percent in June 2024, the highest growth rate among the top exchanges. Coinbase also improved its market share by merely a single percentage point, from 7 percent to 8 percent in the same period. The demand on Bybit surpassed the volume handled by Coinbase last March.

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🥶Sui expands custody with Copper to attract institutional finance

The Sui network will expand its custody capacities through a deal with custody, prime and collateral services provider Copper. Sui is looking to increase its attractiveness to institutional finance. Sui said in a statement that Copper custody support is already available for Sui-native tokens such as the Ondo USD Yield (USDY) stablecoin.

Copper is a United Kingdom-based service whose ClearLoop technology is used to settle trades and manage collateral. Its expansion in the traditional finance market has been facilitated by investments from billionaire Alan Howard, co-founder of asset manager Brevan Howard. Its Copper Securities arm was launched in November and offers tokenized securities in the Abu Dhabi Global Market.

📈 Neko Forecasting $SUI for short-term correction and bounce from current marked demand zone for buy position.

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