Chainlink(LINK), a decentralized oracle network, has announced the implementation of its Cross-Chain Interoperability Protocol (CCIP) on Coinbase’s Ethereum layer-2 scaling solution, Base.

This development offers Base developers a method to devise cross-chain services and applications, enhancing the capability to transmit messages, handle token transfers, and process other transactions across varied blockchain systems.

CCIP’s technology is rooted in Chainlink’s oracle networks.

Chainlink Labs, the developer, posits that these networks have successfully safeguarded billions in assets and processed over $8 trillion in on-chain transactions.

Johann Eid, Chainlink Labs’ chief business officer, emphasized the combined potential of Base’s scalability and Chainlink’s expanding suite of services, saying, “Base and Chainlink aim to lead blockchain innovation, ushering in an influx of users. Together, their synergies can revolutionize cross-chain services and applications.”

Numerous projects, including Raft, Nuon, Folks Finance, and Polychain Monsters, are already incorporating Chainlink’s CCIP into the Layer 2. Notably, Chainlink’s price feeds were integrated into Base as of March 3 this year.

Coinbase’s protocols lead, Jesse Pollak, who was instrumental in Base’s launch, expressed enthusiasm about CCIP’s debut on Base. He emphasized the protocol’s potential to inspire developers and unlock novel applications.

The Base mainnet was Go to Source to See Full Article
Author: Bralon Hill

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