The developers behind the decentralized oracle network Chain link introduced the new Cross Chain Interaction Protocol (CCIP) in a parcel yesterday, a target for multipath data transmission and message transmission.
We are excited to introduce the Cross Chain Interaction Protocol (CCIP), an open source standard for how smart contracts will interact between blockchains, for both messages/commands and tokens, allowing create advanced cross-chain dApps.
– Chainlink – Official channel (@chainlink) August 5, 2021
Oracles, for those who haven’t started yet, are third-party services that fetch information from outside the blockchain into within it, allowing smart contracts to securely access the off-chain data feed. , web APIs and traditional banking payments.
The market leader is Chainlink’s decentralized oracle networks, providing developers with the largest collection of high-quality data sources and secure off-chain computations to extend the capabilities of contracts. smart on any blockchain.
Why need CCIP?
One of the biggest problems plaguing the blockchain ecosystem is that a number of innovative projects are being built on multiple blockchains that cater to their own user and community bases.
While beneficial, the above creates a stupid ecosystem, one where users cannot seamlessly access other chains for their own benefit or dApps without leaving any chains. which they use.
CCIP solves this problem. The protocol is a new open-source standard for cross-chain communication that aims to establish a “universal connection between hundreds of blockchain networks” to help unlock tokens and empower cross-chain applications in a new world. omnidirectional world.
“[It] opens up a whole new range of cross-chain applications such as cross-chain protocols that leverage the scalable computing power of one blockchain, the token diversity of another, the storage capacity of a third and secure the settlement of a quarter to create a unique smart combination of contract applications with outstanding functionalities,” the team explained in a parcel.
Therefore, CCIP will leverage Chainlink’s 2.0 Off-chain Reporting protocol-Its node operators secure over $30 billion for smart contract ecosystem through multiple oracle services–in its protocol stack to expand the number of nodes it covers.
Leading the project are Chainlink Labs Chief Scientist Ari Juels, Chainlink Labs Vice President of Engineering Ben Chan, and several other researchers who work directly with the Chainlink Labs team.
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