Blockchain oracle network Chainlink has integrated with Ethereum layer-2 scaling protocol Arbitrum to facilitate cross-chain decentralized application development.
The Chainlink Cross-Chain Interoperability Protocol (CCIP) has been launched on Arbitrum One’s mainnet on Sept. 21, providing developers with access to Chainlink’s solution and taking advantage of Arbitrum’s high-throughput, low-cost scaling capabilities.
The combination of CCIP and Arbitrum One aims to unlock various use cases, including cross-chain tokenization and collateralization, blockchain gaming, data storage, and computation.
Johann Eid, the chief business officer of Chainlink Labs, emphasized Arbitrum’s role in reducing transaction congestion on Ethereum’s base layer and serving as a foundation for building decentralized applications (DApps).
“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.”
The integration combines Arbitrum’s optimistic rollup technology, which currently accounts for approximately 60% of the total value locked in Ethereum’s layer 2 ecosystem. Arbitrum enables fast and low-fee transactions that are processed off-chain and then submitted to Ethereum’s base layer.
CCIP allows developers to create cross-chain DApps using arbitrary messaging and simplified token transfers. It leverages Chainlink’s decentralized oracle network, enabling secure access to off-chain data sources, APIs, and payment systems for smart contracts.
The protocol enables smart contracts to interact with real-world data and events, allowing them to be triggered by external data sources.
In the past, Ethereum scaling technology firm StarkWare also integrated Chainlink’s oracle services. In February 2023, StarkWare’s zero-knowledge proof rollup protocol StarkNet incorporated Chainlink’s data and price feeds for its ecosystem.
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