Chainlink’s Cross-Chain Interoperability Protocol (CCIP) Goes Live on Base
The Chainlink Cross-Chain Interoperability Protocol (CCIP) has officially gone live on Base, a fast and highly scalable Layer-2 blockchain platform incubated by Coinbase and secured by Ethereum. This milestone opens up new horizons for developers, offering them access to a secure, user-friendly interoperability protocol that facilitates the creation of cross-chain applications and services.
CCIP is set to revolutionize the way developers interact with blockchain networks by providing them with a straightforward and secure interface to build applications capable of sending messages, transferring tokens, and executing actions across different blockchains. What makes CCIP particularly noteworthy is its reliance on Chainlink’s decentralized oracle networks, known for their impressive track record in securing billions of dollars and enabling over $8 trillion in on-chain transaction value.
Discover how CCIP is empowering apps built on Base to scale faster and connect to Web3’s rapidly expanding multi-chain ecosystem 🧵👇https://t.co/AbiGprCx1J
— Chainlink (@chainlink) September 27, 2023
Johann Eid, Chief Business Officer at Chainlink Labs, expressed his enthusiasm for the launch: “With CCIP now live on Base, developers have access to the leading interoperability protocol to easily build cross-chain applications and services. Base and Chainlink are both at the forefront of blockchain development, and together, we are working to introduce millions of new users to our industry.”
Base, functioning as an Ethereum Layer-2 solution, offers the security, stability, and scalability necessary to power decentralized applications (dApps). It allows projects to confidently deploy any Ethereum Virtual Machine (EVM) codebase and onboard users and assets from Ethereum Layer 1, Coinbase, and other interoperable chains. Furthermore, Base serves as the on-chain home for Coinbase products, users, and assets while also welcoming an open ecosystem for developers to innovate and reduce costs for users.
Already, several projects, including Raft, Nuon, Folks Finance, Polychain Monsters, and others, have announced their integration of Chainlink CCIP on Base, highlighting the immediate impact and interest in this interoperability solution.
Jesse Pollak, Creator of Base, expressed excitement about the potential unleashed by CCIP on Base, emphasizing its role in empowering developers to experiment and unlock new use cases.
This milestone follows a series of significant achievements for Chainlink. In July, CCIP was introduced on Mainnet Early Access with early adopters such as DeFi leaders Synthetix and Aave. Additionally, Swift collaborated with Chainlink and numerous financial institutions and market infrastructure providers on experiments demonstrating the seamless transfer of tokenized value across multiple public and private blockchains.
In August, Chainlink Price Feeds went live on Base, providing developers on the platform with access to industry-standard Chainlink Data Feeds and other Web3 services.
Chainlink’s impact on the blockchain industry cannot be overstated. It has established itself as the industry-standard Web3 services platform, enabling trillions of dollars in transaction volume across various sectors, including DeFi, on-chain finance, gaming, NFTs, and more. By offering developers seamless access to real-world data and off-chain computation across any blockchain, Chainlink continues to provide global enterprises with a universal gateway to all blockchains.
In conclusion, the launch of Chainlink’s Cross-Chain Interoperability Protocol on Base marks a crucial step towards achieving greater cross-chain compatibility and innovation in the blockchain space. It promises to usher in a new era of possibilities for developers, businesses, and users, driving forward the adoption and evolution of blockchain technology.
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