Ethereum

Arbitrum

Chainlink

<div class="sg-post-des">
  Chainlink’s CCIP protocol has launched on Ethereum layer 2 Arbitrum One to help developers build cross-chain decentralized applications. 
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<div class="cointelegraph"> 
 <p>Blockchain oracle network Chainlink has tapped into Ethereum (ETH) <a rel="noopener noreferrer nofollow" title="layer" href="https://thebittimes.com/tag/layer.html">layer</a> 2 scaling protocol Arbitrum to drive cross<a rel="noopener noreferrer nofollow" title="-chain" href="https://thebittimes.com/tag/chain.html">-chain</a> decentralized application <a rel="noopener noreferrer nofollow" title="development" href="https://thebittimes.com/tag/development.html">development</a>.</p> 
 <p>The two protocols announced the mainnet launch of the Chainlink Cross-Chain Interoperability Protocol (CCIP) on Arbitrum One on Sept .21, giving developers access to Chainlink’s solution that taps into Arbitrum’s high-throughput, low cost scaling.</p> 
 <p>The combination of CCIP and Arbitrum One’s ecosystem aims to unlock a myriad of use cases, including cross<a rel="noopener noreferrer nofollow" title="-chain" href="https://thebittimes.com/tag/chain.html">-chain</a> tokenization and collateralization, blockchain gaming, data storage and computation.</p> 
 <p>Chainlink Labs chief business officer Johann Eid commented on the partnership, highlighting Arbitrum’s role in offloading transaction congestion from Ethereum’s base layer and providing a base to build DApps.</p> 
 <blockquote>
   “CCIP now gives these users access to a highly secure and easy-to-use interoperability protocol built on Chainlink's time-tested infrastructure, powering cross-chain smart contracts in a way that will open up new avenues of growth, accessibility, and innovation.” 
 </blockquote> 
 <p>The integration will marry Arbitrum’s optimistic rollup technology that currently commands around 60% of total value locked in the wider Ethereum layer two ecosystem. Arbitrum facilitates fast and low fee transactions that are batched off-chain and then submitted to Ethereum’s base layer.</p> 
 <p>The optimistic rollup is assumed to be valid until proven otherwise by validators of the network.</p> 
 <p>Meanwhile CCIP allows developers to build cross<a rel="noopener noreferrer nofollow" title="-chain" href="https://thebittimes.com/tag/chain.html">-chain</a> DApps that use arbitrary messaging and simplified token transfers. This taps into Chainlink’s decentralized oracle network that enables smart contracts to securely access off<a rel="noopener noreferrer nofollow" title="-chain" href="https://thebittimes.com/tag/chain.html">-chain</a> data sources, APIs, and payment systems. </p> 
 <p>Related:&nbsp;Blockchains need an interoperable standard to evolve, say crypto execs</p> 
 <p>The protocol allows smart contracts to interact with real-world data and events, making it possible for them to be triggered by data from external sources.</p> 
 <p>Another prominent Ethereum scaling technology firm in StarkWare previously tapped into Chainlink’s oracle services. As Cointelegraph previously reported, StarkWare’s zero-knowledge proof rollup protocol StarkNet integrated Chainlink’s data and price feeds for its ecosystem in February 2023.</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/chainlink-hits-ethereum-layer-2-arbitrum-for-cross-chain-dapp-development-tbt63555.html">https://thebittimes.com/chainlink-hits-ethereum-layer-2-arbitrum-for-cross-chain-dapp-development-tbt63555.html</a></p>

Chainlink hits Ethereum layer 2 Arbitrum for cross-chain DApp development

TheBitTimes

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