cryptobriefing.com
Ronin Network announced today it has selected Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to strengthen the security of the Ronin Bridge, enhancing the network’s cross-chain infrastructure.
The adoption followed a competitive three-phase selection process, concluding with Chainlink outperforming other candidates, LayerZero and Axelar.
Ronin’s bridge validators picked Chainlink’s CICIP due to its strong security features. The protocol offers multiple Decentralized Oracle Networks (DONs), an independent Risk Management Network, and other security measures that considerably reduce the risk of attacks and vulnerabilities.
“Security was the number one most important factor when deciding which cross-chain protocol would secure the future of the Ronin ecosystem,” stated Phuc Thai, Head Researcher at Sky Mavis. “Beyond cross-chain interoperability, we are keen to work on integrating Chainlink’s suite of oracle services that will serve as an important foundation for the next phase of DeFi growth on Ronin.”
The integration will commence with support for bridge transfers between Ethereum and Ronin, aiming for a seamless migration over the next few months.
Numerous major financial institutions and market infrastructure providers have adopted Chainlink’s CCIP to enhance their operations, improve interoperability between public and private blockchains, and facilitate the secure transfer of tokenized assets.
Key partners include BNY Mellon, Citi, Euroclear, Lloyds Banking Group, and Deutsche Bank-backed Taurus SA, to name a few. The solution is also trusted by several blockchain projects like ZKsync, Sonic Labs, and Celo.
“Secure interoperability powered by CCIP will empower the Ronin community to take full advantage of the multi-chain landscape and accelerate the adoption of Web3 gaming,” said Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs.