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Reading: Delegate Launches Clusters Protocol in Collaboration with LayerZero
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COINTURK NEWS > Blockchain News > Delegate Launches Clusters Protocol in Collaboration with LayerZero
Blockchain News

Delegate Launches Clusters Protocol in Collaboration with LayerZero

In Brief

  • Ethereum project Delegate announces Clusters, a blockchain-based protocol.

  • Clusters aims to simplify cross-chain identity and wallet management.

  • Delegate's technology secures assets in wallets across multiple blockchains.

COINTURK NEWS
COINTURK NEWS 1 year ago
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Ethereum infrastructure project Delegate announced today that it will launch a blockchain-based protocol called Clusters in collaboration with LayerZero. Domain name services match complex blockchain addresses with user-readable names, providing an essential service. Ethereum Name Service is the most preferred protocol among these. ENS, while allowing the registration of other blockchain addresses through an integration with oracle provider Chainlink, continues to store data within the Ethereum ecosystem.

Contents
Significant Step from the Delegate TeamNoteworthy Details About Delegate

Significant Step from the Delegate Team

According to a post shared on X, Delegate aims to bring this type of registry natively to multiple blockchain networks including Ethereum, Solana, other EVM-based blockchain networks, and later the Bitcoin ecosystem. LayerZero stated in a Medium post:

“Clusters; will serve as a cross-chain, multi-wallet naming protocol that addresses issues such as address fragmentation, wallet management complexity, and domain occupation. It will act as a unified identity layer, enabling users to maintain a consistent identity across multiple chains, very similar to what ENS does but natively for many chains.”

In the post, LayerZero explained that this service will facilitate user interaction with decentralized applications and protocols across multiple blockchain networks.

Noteworthy Details About Delegate

LayerZero will be the main technology company behind the service. The protocol is designed to allow messages to be routed across blockchain networks; these messages can be used for value transfer or simply for sharing information. The post included the following statement:

“LayerZero will be used as a messaging layer to carry actions and state changes across chains, helping Clusters maintain accuracy among millions of names and billions of wallet addresses.”

Previously known as Delegate Cash, Delegate already has experience in managing blockchain addresses. Its main protocol is used for crypto wallet owners to delegate their rights or responsibilities from one wallet to another. For example, a Bored Ape owner can delegate the ownership of this NFT to a controlled empty wallet and use the empty wallet to log into the Bored Ape Discord server. If this wallet is compromised, the NFTs remain safe.

According to the website, Delegate’s technology is used to secure assets worth $993 million in 182,500 wallets. Although the service only works for projects integrated with Delegate, many top-tier NFT projects, including Yuga Labs, owner of CryptoPunks and Bored Ape Yacht Club, as well as Azuki and NFT marketplace OpenSea, benefit from this service.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
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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COINTURK NEWS 1 February, 2024 - 2:46 pm 1 February, 2024 - 2:46 pm
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