Layerzero is a user application (UA) configurable on-chain endpoint that runs a ULN. Layerzero relies on two parties to transfer messages between on-chain endpoints: the oracle and the relayer.
In this dashboard, we will examine the inflows/outflows from/to layer zero and finally we will see which network had the most interaction with layer zero.
Introduction
Layer zero; The Internet of Blockchains
If we consider the first layer as the foundation and the second layer as the body of a building. The zero layer can be considered as the ground that provides the communication path between different buildings. Layer 0 (Layer 0 or L0) includes hardware, protocols, connections and other components that form the foundation of a blockchain. Layer zero is a protocol that allows developers to build layer one blockchains that are purpose-built to address one of the three dimensions of scalability. L0 networks are equipped with software development kits or SDKs (such as the Cosmos SDK) that allow developers to create their own blockchains as layer one networks or sidechains. It should be noted that such blockchains are connected to the L0 main chain but have an independent function.
We said above scalability; L0 networks can increase transaction throughput. Transaction speed is usually measured in terms of TPS (transactions per second) and transaction throughput refers to the total number of transactions that a network can handle at one time.
For example, the Horizon network is a zero-layer protocol that can be used to launch a blockchain with the help of the Blaze development kit. Such a blockchain is capable of executing 1000 transactions per second. However, the protocol has the ability to manage 10,000 blockchains simultaneously and in parallel, which brings the transaction throughput of the infrastructure to 1 million.
The capabilities of layer zero are as follows:
Providing the possibility of interaction of blockchains with each other
Faster and cheaper transactions
An infrastructure for developers
2 main components of layer zero protocol are:
The Main Chain: usually acts as the main blockchain and stores the transaction data of different layer one networks.
Sidechains: independent layer one blockchains that have their own set of validation nodes and their own consensus mechanism. These chains do not rely on the main chain for security, but often contribute to the security of the main chain. Security sharing usually happens in different ways. For example, it may be necessary to stick the L0 token in a network of users to become a validator in L1. This means that in case of fraudulent transactions, in addition to L1 shares, L0 shares will also be lost.
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