Chainlink Enables Cross-Chain Capabilities on Ethereum Layer-2 Network Base
Blockchain oracle platform Chainlink has expanded its cross-chain capabilities to Base, an Ethereum layer-2 network backed by Coinbase. Through the Cross-Chain Interoperability Protocol (CCIP), Chainlink allows for communication between different blockchains and traditional Web2 applications such as SWIFT’s payment system. This protocol enables the development of cross-chain applications that can transfer tokens, send messages, and initiate actions across multiple blockchains. Chainlink also serves as the primary oracle for the Base network. Several projects, including Raft, Nuon, Folks Finance, and Polychain Monsters, have already started integrating CCIP on Base.
Johann Eid, chief business officer at Chainlink Labs, stated that developers now have access to a leading interoperability protocol for building cross-chain applications and services. Jesse Pollak, the creator of Base, added that this launch will empower developers to securely build cross-chain applications and explore new use cases.
The Advancement of CCIP
CCIP was introduced by Chainlink in July and has since been integrated with Ethereum, Avalanche, Polygon, Arbitrum, Optimism, and now Base. The protocol has been implemented in ten applications and has generated over $86,000 in revenue according to a Dune dashboard. Additionally, Chainlink has successfully conducted experiments involving SWIFT-based payments from major banks like Citi and BNY Mellon to various blockchains.
Hot Take: Chainlink Expands Cross-Chain Capabilities to Ethereum Layer-2 Network
Chainlink’s integration of the Cross-Chain Interoperability Protocol (CCIP) on Base opens up new possibilities for developers looking to build cross-chain applications. By enabling communication between different blockchains and traditional Web2 applications, Chainlink is driving the adoption of interoperability in the blockchain industry. With CCIP already integrated into several prominent networks, including Ethereum and Avalanche, Chainlink continues to solidify its position as a leading oracle platform. This expansion further demonstrates the growing importance of cross-chain functionality in unlocking new use cases and enhancing the overall capabilities of blockchain technology.