Major cryptocurrency exchanges like Coinbase and Binance are now offering trading for a brand new altcoin called ZRO. ZRO is the native token of LayerZero, an ambitious project aiming to be an “omnichain” interoperability protocol. This means it facilitates the transfer of data across different blockchains.
While details about ZRO are still emerging, LayerZero promises “censorship-resistant messages and permissionless development” through smart contracts. The token’s launch on Thursday was met with swift action by major exchanges, including OKX, Bybit, Crypto.com, and Bitfinex.
Both Coinbase and Binance flagged ZRO as a new and potentially volatile asset, but that hasn’t stopped the trading frenzy. The LayerZero Foundation is also using a novel “proof-of-donation” system to distribute ZRO, with the aim of supporting further development on the Ethereum network.
June 2024, Cryptoniteuae
