Blockchain oracle platform Chainlink has extended its cross-chain capabilities to Coinbase-incubated Ethereum layer-2 network Base.
According to an announcement shared with Decrypt, Chainlink has enabled the Cross-Chain Interoperability Protocol (CCIP) on Base. CCIP is a cross-chain communication protocol for different blockchains and traditional Web2 applications like SWIFT’s payment system.
The protocol enables the development of cross-chain applications that can send messages, transfer tokens, and initiate actions across blockchains.
Chainlink also serves as the primary oracle for the Base network.
The announcement added that projects including Raft, Nuon, Folks Finance, Polychain Monsters among others are already integrating CCIP on Base.
Johann Eid, chief business officer at Chainlink Labs, said in a statement that following the launch, “developers have access to the leading interoperability protocol to easily build cross-chain applications and services.”
Base creator Jesse Pollak added that the launch will let developers “securely build cross-chain applications, empowering them to experiment further and unlock new use cases.”
The progress of CCIP
Chainlink debuted CCIP in July this year and has so far integrated Ethereum, Avalanche, Polygon, Arbitrum, and Optimism to the protocol, with Base becoming the sixth addition to the lineup.
The CCIP protocol has been implemented across ten applications since then and has generated a revenue of over $86,000, according to a Dune dashboard.
The firm has also successfully experimented with SWIFT-based payments from top banks including Citi and BNY Mellon to various blockchains.
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Source: https://decrypt.co/198926/chainlink-extends-cross-chain-protocol-to-coinbases-base