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- In a recent announcement, Binance chain announced that Chainlink’s CCIP is now live on the BNB network.
- The integration with Chainlink’s Cross-Chain Interoperability Protocol (CCIP) promises a stronger BNB Chain.
As the BNB blockchain establishes itself as a promising network, the blockchain has remained committed to strengthening its core. In a recent announcement, Chainlink took to X (formerly Twitter) to announce that the Chainlink CCIP is now live on BNB Chain mainnet.
Chainlink’s Cross-Chain Interoperability Protocol (CCIP), is a data provider created to aid in the development of cross-chain applications and services. After going live on the Avalanche, Ethereum, Optimism, and Polygon blockchains, the data provider is now going live on the BNB blockchain network.
Chainlink CCIP is now live on @BNBCHAIN mainnet, enabling developers to expand their applications across chains in a simple & secure manner.
Discover the projects & protocols leveraging CCIP to connect to BNB Chain & the larger cross-chain ecosystem 🧵 ⬇️https://t.co/KiX5YZ0VwM
— Chainlink (@chainlink) September 29, 2023
With CCIP users can transfer tokens from one blockchain to another, using the lock-and-mint or burn-and-mint mechanisms. Using Chainlink CCIP, users can also carry out Cross-chain lending. Cross-chain lending allows users to lend and borrow from a wide range of crypto assets across multiple DeFi platforms running on independent chains.
This integration with Chainlink will unlock developers from across the multi-chain ecosystem to securely expand to, and build with, BNB Chain and other CCIP-connected blockchains. Going forward, a wide range of projects & protocols will leverage Chainlink’s CCIP to connect to the BNB Chain and the larger cross-chain ecosystem.
Arno Bauer, the Senior Solution Architect at BNB Chain, spoke on the recent move, explaining that Chainlink is setting the standard for security in the industry.
He made this statement while referencing the fact that many BNB Chain projects adopt Chainlink’s wide range of Web3 services to help power their applications. The BNB chain will go on to provide network developers with the best environment, to aid in their innovation, he added.
BNB Chain Exec: “BNB Chain will provide the best environment for devs.”
Using the same time-tested infrastructure such as Chainlink Data Feeds, CCIP is opening the doors to a new era of cords-chain development. This new era is bound to enhance and secure cross-chain development.
The ChainLink CCIP is powered by Chainlink’s
decentralized oracle networks. It is worth noting that these networks have a proven track record of securing billions of dollars. These networks have also enabled more than $8 trillion in on-chain transaction value.
In addition to the many benefits that it already provides,
CCIP also features additional safety mechanisms. They range from a customizable rate limit on token transfers to a separate Risk Management Network. The Risk Management Network is designed to monitor the validity of all cross-chain transactions.
Stressing the significance of CCIP’s security, Arno Bauer is quoted saying;
“The combination of Chainlink’s time-tested infrastructure and CCIP’s security-first design means that for the first time, developers have a future-proof cross-chain solution that they can rely on, and as always, BNB Chain will provide the best environment for devs to start building these innovative cross-chain use cases.”
BNB chain further reiterates its dedication to providing the best infrastructures for developing feature-rich dApps, for its Web3 developers.
