Demex Daily #164: TRON Boosts Interoperability with LayerZero Integration

What’s Interesting Today:

The TRON network has officially integrated with LayerZero, a cross-chain interoperability protocol, enabling TRON developers to deploy decentralized applications (dApps) across over 70 blockchain networks. This integration enhances TRON's interoperability and accessibility, fostering innovation and allowing applications from other networks to operate on TRON's mainnet. TRON, known for its active user base and significant market share in USDT, benefits from this partnership by advancing blockchain interoperability and expanding the potential for decentralized technologies. This collaboration between LayerZero and TRON underscores the growing importance of seamless cross-chain communication in creating a more inclusive and efficient digital economy.

The Ethereum Name Service (ENS) is planning to launch ENSv2, a significant update that will transition the protocol to a layer-2 network to reduce gas fees and increase transaction speeds. The move aims to enhance scalability and improve the functionality of managing .eth domain names with a new hierarchical registry system. This system will allow name holders to manage subdomains and configure resolvers, as well as customize their name's governance, including expiration and transfer rules. The migration to layer-2, motivated by lower costs and better scalability provided by recent technological advancements like EIP4844, is seen as essential for maintaining competitiveness and improving the user experience in the evolving Web3 space. Staying on the Ethereum mainnet would continue to expose users to high fees and network congestion, which could hinder the accessibility and management of .eth names.