Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is now live on the BNB blockchain network. This integration with Chainlink will enable developers to securely expand their applications across chains. CCIP provides users with the ability to transfer tokens from one blockchain to another, using the lock-and-mint or burn-and-mint mechanisms. It also allows users to carry out Cross-chain lending, which enables them to lend and borrow from a wide range of crypto assets across multiple DeFi platforms running on independent chains.The integration of Chainlink’s CCIP with the BNB blockchain is expected to strengthen the network. Arno Bauer, the Senior Solution Architect at BNB Chain, spoke on the recent move, praising Chainlink for setting the standard for security in the industry. He also noted that many BNB Chain projects adopt Chainlink’s wide range of Web3 services to help power their applications.Chainlink’s CCIP is powered by its decentralized oracle networks, which have a proven track record of securing billions of dollars and enabling more than $8 trillion in on-chain transaction value. It also features additional safety mechanisms, such as a customizable rate limit on token transfers and a separate Risk Management Network to monitor the validity of all cross-chain transactions.BNB Chain is dedicated to providing the best infrastructures for developing feature-rich dApps, for its Web3 developers. The integration of Chainlink’s CCIP is expected to open the doors to a new era of cross-chain development, which will enhance and secure cross-chain development.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 8 |
| People | FAC., Arno Bauer, FINRA, Chainlink |
| Companies | FAC, Binance, Chainlink, BNB Chain, FINRA |
| Currencies | BNB, Ethereum, Bitcoin, Chainlink |
| Securities | None |
