A new decentralized naming protocol called Clusters, developed by the Delegate and LayerZero teams, allows for assigning human-readable names to cryptocurrency addresses, similar to the Ethereum Name Service (ENS).
However, Clusters developers point out that this new naming protocol has greater advantages than ENS, since it is Supports multiple blockchains natively, allowing it to provide an effective solution to the problem of address fragmentation, as well as the complexity of wallet management and domain staking.
Developers from the Delegate and LayerZero teams indicated that by using this new multichain decentralized naming protocol, users will be able to maintain and manage a Web3 identity in a much simpler and more intuitive way. This, in turn, allows users to more easily explore the possibilities of the blockchain ecosystem.
Clusters supports several of the most important blockchain networks in the crypto space, such as Bitcoin, Ethereum, Avalanche, BNB Chain and Solana. Even this new naming protocol is compatible with the second layer ecosystem secured by Ethereum, which includes L2 networks Polygon Network, Arbitrum, Base and Optimism.
Decentralizing the Domain Name System
Decentralized naming protocols have revolutionized the way domain names and identity are managed on the Internet.
Ethereum Name Service, or ENS, which is one of the most popular and widely used decentralized domain name protocols in the blockchain industry, allows users to assign human-readable names to their cryptocurrency addresses and other Web3 elements, helping to facilitate interaction for non-native users, making their user experience in the blockchain world more comfortable and seamless.
Now, Clusters wants to take the innovation of decentralization in the domain name system further, incorporating interoperability as a key factor to offer a more consistent experience for users in the crypto industry.
The protocol streamlines user interaction with various decentralized applications and services or DApps, thanks to the fact that the multiple blockchains it supports are natively integrated into the protocol, ensuring that all “actions and configurations associated with a user’s identity are consistently reflected across all integrated blockchains.”
LayerZero V2, building the Web3
Clusters is one of the protocols that are part of the new LayerZero ecosystem, which recently announced its v2 update. Now, the cross-chain interoperability protocol, which connects more than 50 blockchain networks, is focused on identity, stablecoins, and lending markets.
In a publication Shared on Medium, LayerZero developers highlighted that the protocol now has a more robust and modular permissionless infrastructure, where anyone can build interoperable cross-chain applications without relying on intermediary chains, bridges, or custodians.
In April 2023, this project raised its valuation to $3.000 billion after raising $120 million in investments in its Series B round from major venture capitalists such as A16z Crypto, Christie's, Circle Ventures, OpenSea Ventures, Samsung Next, among others.
Continue reading: Moonbeam joins LayerZero to support interchain messaging
