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Cryptocurrency News Articles

Ronin Integrates Chainlink's CCIP, Marking a Transformative Step for the Gaming Blockchain Ecosystem

Dec 13, 2024 at 01:36 pm

The protocol, which is already live, is set to replace Ronin's existing bridge infrastructure by January 2025. This move aims to streamline asset transfers across blockchains while significantly improving security standards.

Ronin Integrates Chainlink's CCIP, Marking a Transformative Step for the Gaming Blockchain Ecosystem

Blockchain gaming platform Ronin has announced the integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP), a move set to enhance cross-chain asset transfers and security standards.

Here's a summary of the key points:

Ronin, a blockchain platform focused on gaming, has announced the integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This move is set to streamline cross-chain asset transfers and elevate security standards.

The integration, which went live on December 22, is part of a broader plan to replace Ronin’s existing bridge infrastructure by January 2025.

A vote by Ronin validators in October saw CCIP chosen as the network’s official cross-chain infrastructure.

With the integration, new bridge lanes have been established, connecting Ronin to Ethereum and Base. This enables the seamless transfer of select tokens, paving the way for broader compatibility with other blockchain networks.

Over the past year, Ronin has seen rapid growth, becoming the fastest-growing blockchain in the global gaming sector.

Partnerships with Coinbase and Pixels have been instrumental in building a decentralized, secure, and scalable on-chain gaming environment.

The adoption of Chainlink CCIP aligns with this vision, offering advanced cross-chain security and positioning the platform for its next growth phase.

Base, a prominent Layer 2 solution by Total Value Locked (TVL), is a key partner in this expansion. The collaboration allows Base's extensive user base to interact seamlessly with Ronin’s ecosystem via the newly established Ronin-to-Base bridge. This increased accessibility will connect Ronin to millions of new users.

The integration of Chainlink CCIP introduces immediate and phased changes to the Ronin network. LINK tokens can now be transferred between Ethereum and Ronin through CCIP, with additional measures in place for other tokens. Until January 2025, ERC-20 and ERC-721 token transfers will continue to operate via Ronin’s legacy bridge. Following this transition, CCIP will fully replace the existing bridge infrastructure, becoming the primary cross-chain solution for Ethereum, Ronin, and Base.

This upgrade offers developers new opportunities to harness Ronin’s capabilities. With enhanced interoperability, builders can focus on creating secure and scalable gaming applications, decentralized applications (dApps), and decentralized finance (DeFi) protocols. By providing a reliable and robust network, Ronin’s adoption of CCIP empowers developers to unlock innovative use cases within its growing ecosystem.

News source:www.cointrust.com

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