Chainlink, the industry-standard Web3 services platform, and Arbitrum, the most widely used layer 2 scaling solution suite for Ethereum dApp development, have announced today the mainnet launch of the Chainlink Cross-Chain Interoperability Protocol (CCIP) on Arbitrum One.
CCIP provides Web3 developers with a secure, easy-to-use interface to build secure applications that can send messages, transfer tokens, and initiate actions across blockchains. The protocol is powered by Chainlink decentralized oracle networks, which have a proven track record of securing tens of billions of dollars and enabling over $8 trillion in on-chain transaction value. CCIP was designed with ease of use for developers in mind, embedding robust security into the protocol through the Risk Management Network, and being underpinned by Chainlink’s time-tested oracle infrastructure.
“Layer 2s like Arbitrum play an important role in offloading transaction congestion and enabling developers to constructively build in the Ethereum ecosystem, ” said Johann Eid, Chief Business Officer at Chainlink Labs. “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.”
Arbitrum One is an optimistic rollup for Ethereum that powers high-throughput, low-cost dApps. CCIP provides developers with the ability to build their own cross-chain dApps using Arbitrary Messaging and provides Simplified Token Transfers, a plug-and-play solution to enhance composability around assets on the Arbitrum network. By combining CCIP with Arbitrum One’s ecosystem, developers can use CCIP to unlock a variety of use cases, such as cross-chain tokenized assets, collateral, gaming, data storage and computation. Projects including BetSwirl, Galaxis, Stafi, Raft, Polychain Monsters and others are already integrating Chainlink CCIP on Arbitrum
“Builders and applications on Arbitrum now have access to the CCIP Network, providing a secure, reliable, and easy-to-use solution for developers,” said A.J. Warner, Chief Strategy Officer at Offchain Labs. “We are excited to see the benefits it brings to those already building, or seeking to build on Arbitrum One.”
In July, CCIP went live on Mainnet Early Access with DeFi Leaders Synthetix and Aave as early adopters, while Swift collaborated with Chainlink and over a dozen financial institutions and financial market infrastructure providers on a new series of experiments, which show that Swift’s infrastructure can seamlessly facilitate the transfer of tokenized value across multiple public and private blockchains.
Chainlink is the industry-standard Web3 services platform. It has enabled trillions of dollars in transaction volume across DeFi, on-chain finance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink empowers developers to build feature-rich Web3 applications with seamless access to real-world data, off-chain computation, and cross-chain interoperability across any blockchain, providing global enterprises with a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. Register for SmartCon 2023 in Barcelona, the Web3 event of the year happening this October 2-3.
About The Arbitrum Foundation
The Arbitrum Foundation, founded in March 2023, supports and grows the Arbitrum network and its community with secure scaling solutions for Ethereum. Arbitrum One—a leading Ethereum Layer-2 scaling solution initially developed by Offchain Labs—offers ultra-fast, low-cost transactions with security derived from Ethereum through Optimistic Rollup technology. Launched in August 2021, the Arbitrum One mainnet beta is EVM-compatible to the bytecode level and has 60%+ TVL in the L2 segment. 400+ DeFi and NFT projects are live in the ecosystem to date. In August 2022, Arbitrum One upgraded to Nitro tech stack, enabling fraud proofs over the core engine of Geth compiled to WASM.