Token

Value

Foundation

Chainlink

Chainlink announced that its Cross-Chain Interoperability Protocol (CCIP) is now live on ZKsync’s Era Mainnet.&nbsp;
ZKsync’s adoption of Chainlink’s CCIP enables seamless cross-chain token transfers and enhances ZKsync’s capabilities in bringing financial institutions on-chain, according to a press release shared with BSCN.
<blockquote>
 "The need for transparent and secure cross-chain standards is paramount as more financial institutions move on-chain, and this integration with Chainlink provides a gateway for these institutions," said Marco Cora, Director at ZKsync Foundation
</blockquote>
<h2 dir="ltr" id="span-span-what-ccip-brings-to-zksync-span-span">What CCIP Brings to ZKsync</h2>
Chainlink’s CCIP is designed to solve the challenges of cross-chain communication by providing a secure, standardized protocol. Developers using ZKsync’s network can now leverage Chainlink CCIP to build sophisticated decentralized applications (dApps) that operate across multiple blockchain ecosystems.&nbsp;
&nbsp;
The key features of CCIP include:
<ul>
 <li>Programmable Token Transfers: CCIP allows tokens to be transferred across blockchains, along with instructions for smart contracts to manage those tokens once they arrive.</li>
 <li>Arbitrary Messaging: This feature enables smart contracts to send data and trigger functions on other blockchains, paving the way for more complex and interoperable applications.</li>
</ul>
<h2 dir="ltr" id="span-span-strengthening-the-layer-2-ecosystem-span-span">Strengthening the Layer 2 Ecosystem</h2>
ZKsync has become a prominent player in the zero-knowledge (ZK) space, particularly for its role in scaling Ethereum. The introduction of Chainlink CCIP on ZKsync will reportedly solidify the network’s standing by enabling more financial institutions and developers to operate securely across multiple chains.
&nbsp;
Johann Eid, Chief Business Officer at Chainlink Labs, noted that the integration was a natural progression after the success of Chainlink Price Feeds on ZKsync, stating:
<blockquote>
 &nbsp;“ZKsync has become a household name in blockchain, and the integration of Chainlink CCIP continues our mission of creating a seamless multi-chain environment.”
</blockquote>
<h2 dir="ltr" id="span-span-real-world-use-cases-and-tokenized-assets-span-span">Real-World Use Cases and Tokenized Assets</h2>
Chainlink’s presence in the blockchain industry continues to expand as it integrates its services with various networks to improve transparency and reliability.&nbsp;
&nbsp;
Recently, Chainlink&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/chainlink-data-streams-and-vrf-launch-on-base-boosting-de-fi-and-d-app-capabilities">launched</a> its flagship products, Chainlink Data Streams and Chainlink VRF, on Base, a Layer 2 network incubated by Coinbase. These tools are tailored to the DeFi market, offering seamless execution and enhanced user experiences.
&nbsp;
Further, last July, Chainlink&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/chainlink-join-hands-with-wenia-to-boost-transparency-of-colombian-peso-backed-stablecoin">partnered</a> with Fidelity International and Sygnum to bring the Net Asset Value (NAV) of a $6.9 billion Institutional Liquidity Fund on-chain.&nbsp;

ZKsync Integrates Chainlink CCIP to Power Cross-Chain Token Transfers

Table of Contents

BSCN

Other articles published on Sep 19, 2024

Forge Celebrates Major Milestone with 1 Million Players and Exciting New Web3 Partnerships

Musk’s Pet Pepe Solana Memecoin to Rally 13,000% Ahead of Exchange Listing, While Shiba Inu and D...

Bitcoin options markets reduce risk hedges — Are new range highs in sight?

Silvergate Capital Bank is Bankrupting After 18-Month Shutdown

Binance to hold off Nigerian licensing until Gambaryan is freed

Louisiana Government Now Accepting Crypto Payments

Join our free newsletter for daily crypto updates!