The well-known Oracle Blockchain network, Chainlink, has just intensified its connection with the Ethereum Layer 2 scaling protocol, Arbitrum. The focus? Boost the development of decentralized applications (DApps) that work harmoniously across different chains.
Last September 21, a milestone was established: Chainlink and Arbitrum officially launched the Chainlink Cross-Chain Interoperability Protocol (CCIP) on Arbitrum One. For developers, this represents a gateway to Chainlink’s robust solution, which, combined with Arbitrum’s scaling power promises high performance and lower costs.
For those who follow the crypto universe, this is more than technology – it is the materialization of unprecedented opportunities. Just imagine: tokenization, interlinked guarantees between different blockchains, blockchain-based games and even data storage and computing gain new ground for evolution.
Built with multiple layers of decentralization, CCIP provides Arbitrum developers with unrivaled cross-chain security for unlocking the next wave of dApps and Web3 use cases.#CCIPSummerhttps://t.co/GiT21yfqNm
— Chainlink (@chainlink) September 21, 2023
Johann Eid, an influential figure at Chainlink Labs, was keen to reinforce the value of this advancement. According to him, Arbitrum has played a key role in alleviating congestion that often plagues the Ethereum base. “With CCIP, we are providing a secure and simplified bridge to creating DApps. This combination has the potential to generate new waves of growth, accessibility and, of course, innovation in the field of cryptocurrencies”, commented Eid.
But what exactly makes this integration so special? Well, Arbitrum has a technology called optimistic rollup. Simply put, it facilitates agile, cost-effective transactions that initially occur outside the blockchain and are then consolidated into the main Ethereum layer.
On the other hand, Chainlink is not far behind and offers an essential feature: the decentralized oracle network. Through it, smart contracts can access, with complete security, data sources and payment systems outside the blockchain. This makes it possible for such contracts to be activated by data coming from sources outside the crypto ecosystem.
It is worth mentioning that Chainlink had already attracted the attention of giants in the sector. StarkWare, for example, had already integrated Chainlink’s oracle services in early 2023.
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