Arbitrum

Impact

Chainlink

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
Premier Decentralized Oracle protocol Chainlink (LINK) has expanded its ecosystem with the launch of its Cross-Chain Interoperability Protocol (CCIP) on the Arbitrum One Mainnet. As detailed in an&nbsp;<a href="https://www.prnewswire.com/news-releases/chainlink-ccip-goes-live-on-arbitrum-one-301934913.html" rel="noopener noreferrer nofollow">announcement</a> shared by Chainlink, the integration can now give Arbitrum's developers access to the CCIP, which has been regarded as one of the most functional smart contract development environments. 
Since most developers in Web3 are in search of an avenue to transfer tokens, send messages and initiate actions across various blockchains, the CCIP has proven to be the right tool to harbor all of these functionalities. Notably, developers will also gain access to high security for carrying out their tasks, as backed by Chainlink's robust oracles. 
Deploying on Arbitrum is a&nbsp;<a href="https://u.today/link-jumps-630-as-chainlink-whales-go-on-huge-buying-spree" rel="noopener noreferrer nofollow">strategic push</a> for Chainlink, which has placed a great emphasis on expansion in recent times. Arbitrum is arguably one of the biggest scaling solutions on Ethereum, with its own dedicated community and user base. The partnership will help both form a synergy that will largely contribute mutually to the growth and expansion of both blockchain protocols. 
This celebrated partnership is a product of months of effort the protocol has put into&nbsp;<a href="https://u.today/chainlink-moves-millions-of-link-in-support-of-oracle-accessibility" rel="noopener noreferrer nofollow">powering</a> its accessibility in the industry. 
<h2 dir="ltr" id="impact-on-link-and-arb">Impact on LINK and ARB</h2> 
The integration of the CCIP within the Arbitrum protocol might have a&nbsp;<a href="https://u.today/chainlink-link-debuts-this-core-product-on-mainnet-details" rel="noopener noreferrer nofollow">bullish upside</a> for the native tokens of the two networks in the long run. Since most developers are likely to gravitate toward a hub that makes their work easier, we may begin to see more usable decentralized applications (dApps) that can drive user adoption in the long term. 
The announcement, however, has not yielded much impact on LINK, which is down by 2% over the past 24 hours to $6.75,&nbsp;<a href="https://coinmarketcap.com/currencies/chainlink/#markets" rel="noopener noreferrer nofollow">according</a> to data from CoinMarketCap. Arbitrum is also seeing a slump, with valuation down by 3.3% to $0.8211.

Chainlink (LINK) Goes Live on Arbitrum One Mainnet, Key Benefits

Tabla de contenidos

U_Today

Otros artículos publicados el 21 sept 2023

This Nobel Prize-winning economist predicted Bitcoin 30 years ago

Shiba Inu's 0.48% Price Drop to $0.00000726: Key Takeaways for September 21, 2023

Is Bitcoin Spark the Next Dogecoin? This Exciting Crypto Could Outpace the Popular Meme Coin

OKX Switch McLaren MCL60 Race Car To Stealth Mode For The Singapore Grand Prix

Microsoft rumored to add crypto wallets to next Xbox

Meme Coin Riches: Expert Trader Shares How To Score 100-1000x Wins

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!