Ronin Integrates Chainlink’s CCIP for Enhanced Security
The post Ronin Integrates Chainlink’s CCIP for Enhanced Security appeared on BitcoinEthereumNews.com.
Ronin Validators chose Chainlink’s CCIP to enhance the security of assets bridged on the Ronin Network after a competitive vote. Ronin’s community showed strong support, with over 224 million RON tokens staked by 285,083 unique delegators, highlighting its ecosystem’s trust. The Ronin Validator community has taken a huge step forward by deciding to adopt Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the network’s canonical cross-chain architecture. Underscoring the network’s commitment to raise its general dependability, this choice is meant to increase the security of assets connected to Ronin. Notable partners, including Layer Zero and Axelar, who participated in the distributed selection process, were part of the rigorous and cooperative process leading up to this integration. .@Ronin_Network is adopting Chainlink CCIP as its canonical cross-chain infrastructure.https://t.co/brdI1RyNvO pic.twitter.com/RA7uoAXOJk — Chainlink (@chainlink) November 1, 2024 Ronin Moves Towards a Stronger Bridge Solution Ronin started a necessary process back in August by asking two outside companies to audit the Ronin Bridge. A clear goal motivated this action: to increase the security and accessibility of the ecosystem. These audits highlighted the need for a strong and established bridge solution, which led Ronin to start in September a thorough, three-phase request-for-proposal (RFP) process. Three possible providers—Layer Zero, Axelar, and Chainlink CCIP—made up this RFP. Following extensive review and a tough voting procedure, October saw the last choice decided. With 10 votes, Chainlink CCIP locked the majority, Layer Zero trailed with 3 votes, and Axelar earned none. For Ronin, this result signaled a turning point since it underlined the need for Chainlink’s solution in enhancing the infrastructure of the network. The shift to Chainlink’s CCIP is planned with the community in mind, guaranteeing little disturbance. Users of the network should be relieved that current Ronin tokens will not need any manual migration actions, therefore streamlining the procedure for…
Filed under: News - @ November 3, 2024 12:08 pm