Wyoming Ditches LayerZero for Chainlink's Cross-Chain Protocol
Wyoming's Frontier Stable Token (FRNT) has been moved from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP), a significant development in the stablecoin space. According to Keith Lawhorn, Wyoming's CISO, the decision was made after a comprehensive review of FRNT's cross-chain operations and controls, which highlighted several concerns related to security and certification.
The review compared LayerZero, CCIP, and other alternatives across six dimensions, with Chainlink emerging as the preferred choice for its robust security features. Wyoming cited Chainlink's use of 16 independent node operators on every supported chain, OCR consensus process, Big Four-reviewed SOC 2 Type 2 certification, and 50 security audits.
Lawhorn also highlighted Chainlink's reputation for reliability during times of crisis, such as the COVID-19 crash, FTX collapse, network congestion, and AWS outage. He noted that CCIP secures about 70% of DeFi transactions and enables over $33 trillion in transaction value.