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Reading: Delegate and LayerZero Join Forces to Launch Innovative Clusters Protocol
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Latest cryptocurrency news > BLOCKCHAIN > Delegate and LayerZero Join Forces to Launch Innovative Clusters Protocol
BLOCKCHAIN

Delegate and LayerZero Join Forces to Launch Innovative Clusters Protocol

BH NEWS
Last updated: 1 February 2024 14:50
BH NEWS 2 years ago
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The Ethereum infrastructure project Delegate has announced the launch of a new blockchain protocol named Clusters, developed in partnership with LayerZero. This protocol aims to simplify blockchain address management by providing user-friendly names, similar to the Ethereum Name Service (ENS), which is the most popular service for matching complex blockchain addresses with readable names. ENS, with the help of Chainlink’s oracle integration, allows for the registration of addresses from various blockchains while keeping the data within the Ethereum network.

Clusters: A Unified Identity Layer Across Blockchains

Delegate’s vision with Clusters is to create a registry system that is native to multiple blockchains, including Ethereum, Solana, other EVM-compatible networks, and potentially the Bitcoin ecosystem. Clusters is designed to address the challenges of address fragmentation and wallet management complexity by acting as a cross-chain, multi-wallet naming protocol. It will provide users with a consistent identity across different chains.

LayerZero, the technology company behind Clusters, will utilize its messaging layer to facilitate the transfer of messages and state changes across various blockchain networks. This service is expected to enhance user interaction with decentralized applications and protocols, streamlining the experience across different platforms.

Delegate, formerly known as Delegate Cash, has a background in managing blockchain addresses. Its primary protocol allows crypto wallet owners to delegate rights or responsibilities between wallets, which enhances security for assets like NFTs. For instance, a Bored Ape NFT owner can delegate ownership to a secondary wallet, reducing the risk if the wallet is compromised.

Delegate’s technology is currently securing assets valued at $993 million across 182,500 wallets. Although it only works with Delegate-integrated projects, several high-profile NFT projects and marketplaces, including those owned by Yuga Labs and OpenSea, are already benefiting from its services.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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