Validators Vote to Integrate CCIP for Bridge Security
The post Validators Vote to Integrate CCIP for Bridge Security appeared on BitcoinEthereumNews.com.
Ronin Network selected Chainlink’s CCIP to enhance security after a competitive process. Chainlink’s protocol offers multiple security layers, reducing the risk of attacks on the Ronin Bridge. Blockchain gaming platform Ronin has announced the integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to secure its cross-chain bridge. This partnership will enhance the security and efficiency of the Ronin Bridge and enable the seamless transfer of assets and information between the Ronin and Ethereum networks. Out of the competitors, LayerZero and Axelar, Chainlink was chosen due to the presence of strong security measures. On October 10, Ronin announced that the network’s validators voted to support the use of Chainlink’s CCIP as the network’s cross-chain solution. The CCIP is a decentralized oracle-based protocol that aims to provide a secure means of interoperability between different blockchains. This integration will allow users to send transactions and other messages across chains while maintaining the security of the whole system. 1/ Welcome to Ronin, Chainlink! Today, Ronin Validators voted for @chainlink’s CCIP to secure the Ronin Bridge. This alliance will reinforce security, improve user experience, and free up resources to accelerate the Ronin ecosystem’s adoption. Full announcement 👇 📜 :… pic.twitter.com/rhXBXY5PPb — Ronin (@Ronin_Network) October 10, 2024 A three-stage evaluation process preceded the integration of Chainlink’s CCIP by Ronin. The blockchain developed specifically for the gaming industry plans to improve both security and scalability by integrating the two, thereby freeing up resources for further network expansion. Jeff Zirlin, co-founder of Sky Mavis, noted that Chainlink will help to improve the network and said that the partnership will make Ronin “stronger and more secure.” As per the announcement, the Ronin tokenholders do not have to do anything, as the integration will happen automatically in the background. All tokens existing on the Ronin blockchain will be migrated to the…
Filed under: News - @ October 13, 2024 1:18 am