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Blockchain oracle network Chainlink has tapped into Ethereum layer-2 scaling protocol Arbitrum to drive cross-chain decentralized application development.<\/p>\n
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\u2019s solution, which taps into Arbitrum\u2019s high-throughput, low-cost scaling.<\/p>\n
The combination of CCIP and Arbitrum One\u2019s ecosystem aims to unlock a myriad of use cases, including cross-chain tokenization and collateralization, blockchain gaming, data storage and computation.<\/p>\n
Chainlink Labs chief business officer Johann Eid commented on the partnership, highlighting Arbitrum\u2019s role in offloading transaction congestion from Ethereum\u2019s base layer and providing a base to build decentralized applications (DApps).<\/p>\n
\u201cCCIP now gives these users access to a highly secure and easy-to-use interoperability protocol built on Chainlink\u2019s time-tested infrastructure, powering cross-chain smart contracts in a way that will open up new avenues of growth, accessibility, and innovation.\u201d\u00a0<\/p><\/blockquote>\n
The integration will marry Arbitrum\u2019s optimistic rollup technology that currently commands around 60% of total value locked in the wider Ethereum layer 2 ecosystem. Arbitrum facilitates fast, low-fee transactions that are batched off-chain and then submitted to Ethereum\u2019s base layer.<\/p>\n
The optimistic rollup is assumed to be valid until proven otherwise by validators of the network.<\/p>\n
Meanwhile, CCIP allows developers to build cross-chain DApps that use arbitrary messaging and simplified token transfers. This taps into Chainlink\u2019s decentralized oracle network that enables smart contracts to securely access off-chain data sources, APIs and payment systems. <\/p>\n
Related:\u00a0Blockchains need an interoperable standard to evolve, say crypto execs<\/a><\/em><\/strong><\/p>\n
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>\n
StarkWare, another prominent Ethereum scaling technology firm, previously tapped into Chainlink\u2019s oracle services. As Cointelegraph previously reported<\/a>, StarkWare\u2019s zero-knowledge proof rollup protocol StarkNet integrated Chainlink\u2019s data and price feeds for its ecosystem in February 2023.<\/p>\n
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