Chainlink, a prominent provider of data feeds to blockchain-based smart contracts, has announced that its Cross-Chain Interoperability Protocol (CCIP) is now available for developers to use in transferring onboarded tokens across different blockchains. CCIP serves as the standard for cross-chain interoperability and enables developers to securely transfer tokens, send messages to smart contracts on other blockchains, and simultaneously transmit data.

The protocol currently supports various blockchains, including Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX. Chainlink plans to expand support for additional blockchains in the future.

Sergey Nazarov, co-founder of Chainlink, stated in a press release that CCIP is becoming the standard for both capital markets blockchain transactions among banks and the secure movement of Web3 cross-chain value and data across public chains. The general availability of CCIP on the mainnet makes it easier for developers to adopt CCIP as a secure means of achieving cross-chain connectivity.

With the release of CCIP, Chainlink aims to facilitate seamless communication and interoperability between different blockchains, enhancing the capabilities of smart contracts and expanding the possibilities for decentralized applications (dApps) in the blockchain ecosystem.

New App Revolutionizes Token Transfers: Seamlessly Transfer Various Tokens with Ease

Earlier this month, Chainlink introduced a new application called Transporter, designed for submitting and monitoring cross-chain transactions. Described as a “hyper-secure bridging app,” Transporter leverages Chainlink’s CCIP to offer users unprecedented security when transferring tokens across different blockchains.

With Transporter, users have the ability to track their assets and messages throughout the transaction process. They can monitor and manage their transactions both within the Transporter app itself and through the Chainlink CCIP Explorer.

It’s important to note that Transporter does not impose any additional fees on top of the regular fees associated with using CCIP. Users are responsible for the standard fees, which cover the gas costs of completing transactions on the destination blockchain and the fees paid to CCIP service providers.

The introduction of Transporter aims to enhance the security and transparency of cross-chain transactions, providing users with a reliable and efficient means to transfer tokens across different blockchains using Chainlink’s CCIP.

CCIP (Cross-Chain Interoperability Protocol) Enters General Availability

Chainlink has attributed the General Availability of CCIP to the introduction of various new features, including Transporter, and the addition of token transfer support for USDC (USD Coin), a widely used stablecoin.

During the Early Access phase in the first quarter of 2024, CCIP experienced remarkable growth. Chainlink reported a 900%+ increase in the number of cross-chain transactions and a 4,000%+ surge in the cross-chain transfer volume processed by CCIP compared to the fourth quarter of 2023. Notably, CCIP facilitated multiple transactions involving nearly $1 million worth of USDC, highlighting its ability to securely handle substantial value transfers over an extended period.

These statistics demonstrate the growing demand for cross-chain interoperability solutions and the effectiveness of CCIP in meeting those needs. The adoption of CCIP by users and the significant volume of cross-chain transactions processed indicate its increasing importance within the blockchain and decentralized finance (DeFi) ecosystems.

By ailf

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