Chainlink Expands Its Reach to Arbitrum One Mainnet with Cross-Chain Interoperability Protocol

Chainlink expands its ecosystem by launching the Cross-Chain Interoperability Protocol (CCIP) on the Arbitrum One Mainnet, providing developers with a highly functional environment for smart contract development and easy cross-chain actions.

Posted 8 months ago in Blockchain

Chainlink logo with Arbitrum protocol connecting multiple blockchains

Premier Decentralized Oracle protocol Chainlink (LINK) has expanded its ecosystem with the launch of its Cross-Chain Interoperability Protocol (CCIP) on the Arbitrum One Mainnet.

The CCIP integration provides Arbitrum's developers with access to a highly functional smart contract development environment that enables easy transfer of tokens, messaging, and action initiation across different blockchains.

Chainlink's robust oracles ensure high security for developers performing tasks on the Arbitrum network.

The collaboration between Chainlink and Arbitrum is a strategic move for both parties, as it facilitates mutual growth and expansion in the blockchain industry.

The integration of CCIP within the Arbitrum protocol is expected to drive the development of more user-friendly decentralized applications (dApps) and increase user adoption in the long term.

However, the announcement has had minimal impact on the native tokens of the two networks, with LINK down 2% in the past 24 hours to $6.75 and Arbitrum experiencing a 3.3% decrease in valuation to $0.8211 according to CoinMarketCap.

Last updated 9/21/2023, 10:22:00 PM


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