News Report Technology
September 27, 2023

Chainlink Cross-Chain Protocol Goes Live on Base Mainnet

Chainlink today announced that its Cross-Chain Interoperability Protocol (CCIP) has gone live on Layer-2 blockchain Base. This enables developers on Base to build cross-chain applications and services using the CCIP.

The Web3 platform said that the CCIP offers developers a user-friendly interface for building secure applications capable of sending messages, transferring tokens and initiating actions across blockchains.

The protocol leverages Chainlink’s decentralized oracle networks, which have reportedly secured billions of dollars and enabled over $8 trillion in on-chain transactions. CCIP has integrated robust security through the Risk Management Network, which continually monitors and verifies cross-chain operations for suspicious activity.

“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,”  Johann Eid, Chief Business Officer at Chainlink Labs, said in a statement.

Chainlink said that projects including Raft, Nuon, Polychain Monsters and others are already integrating Chainlink CCIP on Base. 

“We’re excited about the launch of CCIP on Base to let developers securely build cross-chain applications, empowering them to experiment further and unlock new use cases,” said Jesse Pollak, Creator of Base.

Additionally, DeFi platform Folks Finance today announced that it will integrate CCIP.  The platform will use CCIP’s messaging for cross-chain Hub & Spoke lending, allowing users to deposit collateral on one chain and borrow assets on another.

ā€œAssets will be transferred between chains without manual bridging operations, which are currently one of the least user-friendly aspects of DeFi,ā€ Folks Finance wrote in a blog post.

In July, Chainlink CCIP launched on the Ethereum, Optimism, Polygon, and Avalanche blockchains. In that same month, Swift also announced an initial proof of concept using CCIP to enable secure messaging and token transfers between large financial institutions and multiple blockchains.

Disclaimer

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About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing.Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing.Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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