Wednesday, February 19, 2025

LayerZero Introduces lzRead for Seamless Cross-Chain Data Access

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KEY TAKEAWAYS

  • LayerZero introduces lzRead, enabling smart contracts to access onchain data from multiple blockchains seamlessly.
  • lzRead addresses the challenge of fragmented blockchain data, allowing developers to retrieve and compute data with a single function call.
  • Developers can use lzRead with any standard smart contract language, leveraging full historical data across chains.
  • lzRead supports diverse applications, including state synchronization and asset verification, with active development by projects like EigenLayer and Stargate.

LayerZero has announced the launch of lzRead, a new data primitive designed to enhance the capabilities of smart contract developers by providing seamless access to onchain data from any supported network. This innovation allows developers to retrieve and compute data across multiple blockchains with a single function call, addressing the challenge of fragmented data in the blockchain ecosystem.

Traditionally, smart contracts have been limited to accessing data only from their own blockchain. However, with the increasing number of blockchains, valuable data is now dispersed across various networks. lzRead offers a unified solution, enabling smart contracts to efficiently compose with external data from multiple chains over any period of time.

How lzRead Works

lzRead is built to be accessible using any standard smart contract language, allowing developers to leverage the full historical data of each chain. To utilize lzRead, developers need to understand a few key components: Messaging Channels, Decentralized Verifier Networks (DVNs), and ReadLib.

The process begins with deploying an lzRead-compatible Omnichain Application (OApp), configuring DVNs, setting up channels, and creating Read Requests. A Read Request specifies the blockchain(s) to read from, the specific data needed, and any transformations required before the data is sent back to the application.

Applications and Use Cases

The lzRead Request Lifecycle supports a wide range of configurations, making it adaptable to various use cases such as synchronizing state, verifying asset ownership, and custom pricing calculations like TWAP and VWAP. Several use cases are already being explored and tested by Day 1 Builders.

Additional builders, including EigenLayer, Stargate, Ethena, and Plume, are actively researching and developing unique applications with lzRead. Others, like AltLayer, aim to provide services that simplify leveraging LayerZero with lzRead, expanding its impact across decentralized finance (DeFi), governance, and beyond.

For more detailed information and support on lzRead, visit the LayerZero website, as announced here.


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Shree Narayan Jha
Shree Narayan Jha
Shree Narayan Jha is a tech professional with extensive experience in blockchain technology. As a writer for CoinsHolder.com, Shree simplifies complex blockchain concepts, providing readers with clear and insightful content on the latest trends and developments in the industry.

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