Chainlink, the leading Web3 services platform, and Arbitrum, the top layer 2 scaling solution suite for Ethereum dApp development, have officially launched the Chainlink Cross-Chain Interoperability Protocol (CCIP) on Arbitrum One.
The CCIP enables Web3 developers to easily build secure applications that can communicate, transfer tokens, and perform actions across different blockchains. This protocol is powered by Chainlink’s decentralized oracle networks, known for securing billions of dollars and facilitating over $8 trillion in on-chain transaction value. The CCIP prioritizes developer usability while ensuring robust security through the Risk Management Network and Chainlink’s trusted oracle infrastructure.
Arbitrum One, an optimistic rollup solution for Ethereum, offers high-throughput, cost-effective dApps. CCIP empowers developers to create their own cross-chain dApps using Arbitrary Messaging and Simplified Token Transfers, which enhance asset composability on the Arbitrum network.
The integration of CCIP with Arbitrum One enables developers to explore various use cases, including cross-chain tokenized assets, collateralization, gaming, data storage, and computation. Notable projects such as BetSwirl, Galaxis, Stafi, Raft, and Polychain Monsters have already integrated Chainlink CCIP on Arbitrum.
In July, CCIP was made available on Mainnet Early Access, with DeFi leaders Synthetix and Aave as early adopters. Additionally, Swift collaborated with Chainlink and multiple financial institutions and market infrastructure providers on experiments demonstrating Swift’s ability to facilitate seamless token transfers across different blockchains.
Chainlink is recognized as the industry-standard Web3 services platform, supporting trillions of dollars in transaction volume across DeFi, on-chain finance, gaming, NFTs, and other major sectors. As a decentralized oracle network, Chainlink empowers developers to build feature-rich Web3 applications with easy access to real-world data, off-chain computation, and cross-chain interoperability.
The Arbitrum Foundation, established in March 2023, focuses on supporting and expanding the Arbitrum network and its community with secure scaling solutions for Ethereum. Arbitrum One, initially developed by Offchain Labs, offers fast, low-cost transactions while deriving security from the Ethereum network through Optimistic Rollup technology.
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