Chainlink, a leading Oracle service provider, has unveiled its Cross-Chain Interoperability Protocol (CCIP) on Base, the Ethereum layer-2 network nurtured by Coinbase. This development aims to empower developers on Base with a secure and user-friendly interoperability protocol, facilitating the creation of cross-chain applications and services.
This move follows the integration of Chainlink Price Feeds into Base a month ago, granting developers on Base access to Chainlink Data Feeds and other essential Web3 services.
Chainlink CCIP on Base
Base creator Jesse Pollak anticipates that the launch of CCIP on Base will provide developers with a secure platform to construct cross-chain applications, fostering experimentation and exploration of novel use cases. To date, Chainlink has successfully integrated Ethereum, Polygon, Avalanche, Optimism, and Arbitrum into its protocol, with Base becoming the sixth addition to this expanding list.
Johann Eid, Chief Business Officer at Chainlink Labs, commented on this development, stating,
“Base and Chainlink are both at the forefront of blockchain development as we strive to onboard the next wave of millions of new users to our industry. The scalability and technological innovation of Base as a layer 2 solution, combined with the growing array of Chainlink services, offers a significant advantage to developers aiming to create the next generation of cross-chain applications and services.”
CCIP – Pioneering Interoperability
CCIP functions as a cross-chain communication protocol, streamlining interoperability between diverse blockchains and traditional Web2 applications, similar to SWIFT’s payment system. According to Chainlink Labs, the protocol has safeguarded billions of dollars in assets and facilitated over $8 trillion in on-chain transaction value. Chainlink co-founder and acting CEO Sergey Nazarov had previously expressed the project’s ambition to establish CCIP as the “new gold standard” for cross-chain interoperability.
The protocol embarked on its Mainnet Early Access journey in July, with notable decentralized finance (DeFi) platforms like Synthetix and Aave being early adopters of this pioneering technology.
