Chainlink CCIP Goes Live on Coinbase-Incubated Layer-2 Base

2023-09-28 04:37:38

Chainlink – the leading Oracle service provider – has announced that its Cross-Chain Interoperability Protocol (CCIP) is now live on Base in a bid to enable developers on the Coinbase-incubated Ethereum layer-2 network to have access to the secure and easy-to-use interoperability protocol for building cross-chain applications and services.

The move comes a month after Chainlink Price Feeds went live on Base, which allowed developers on Base access to Chainlink Data Feeds and other Web3 services.

Chainlink CCIP on Base

According to Base creator Jesse Pollak, the launch of CCIP on Base is expected to allow developers to securely build cross-chain applications, letting them experiment further and explore new use cases.

So far, Chainlink has successfully incorporated Ethereum, Polygon, Avalanche, Polygon, Optimism, and Arbitrum into its protocol, while Base joins as the sixth addition to this growing roster.

Commenting on the development, Johann Eid, Chief Business Officer at Chainlink Labs, said,

“Base and Chainlink are both building on the forefront of blockchain development as we work to bring the next wave of millions of new users into our industry. The scalability and technological creativity of Base as a layer 2 solution, combined with an ever-increasing number of Chainlink services, is a boon for developers looking to build the next generation of cross-chain applications and services.”

CCIP – The New Gold Standard for Interoperability

CCIP serves as a cross-chain communication protocol that facilitates interoperability between ious blockchains and traditional Web2 applications similar to SWIFT’s payment . Chainlink Labs estimates that the protocol has secured billions of dollars in assets and facilitated more than $8 trillion in on-chain transaction value.

Chainlink co-founder and acting CEO Sergey Nazarov had previously said that the project aimed to position CCIP as the “new gold standard” for cross-chain interoperability.

The protocol went live on Mainnet Early Access in July, with prominent decentralized finance (DeFi) platforms such as Synthetix and Aave as early adopters.

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