Today, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) went live on Base – a fast, scalable, developer-friendly L2 incubated by Coinbase and secured by Ethereum. CCIP will allow developers on Base to build advanced decentralized applications that can securely transmit digital assets along with data and messages between distinct blockchain networks.
CCIP launched on mainnet in July to power cross-chain smart contracts for early adopters like Synthetix, which uses CCIP to facilitate its unique burn-and-mint model for cross-chain liquidity transfers, and Aave, which is integrating CCIP to secure its multi-chain governance mechanism.
In August, Swift, the world’s biggest provider of secure financial messaging services, successfully demonstrated how banks can transact with public and private blockchains using CCIP. Last week at Sibos, Swift’s premier financial services event, Chainlink co-founder Sergey Nazarov illustrated how CCIP can unlock the full potential of tokenized assets by allowing them to flow freely between private bank chains and public DeFi applications.
Base launched earlier this year with the goal of onboarding a billion new web3 users by giving developers simple, cost-effective tools to build secure dApps with real-world utility. As a member of Chainlink SCALE, Base is accelerating its ecosystem’s growth through enhanced access to Chainlink’s industry-standard web3 infrastructure, such as Chainlink Price Feeds, which went live on Base mainnet last month.
“We’re excited about the launch of CCIP on Base to let developers securely build cross-chain applications, empowering them to experiment further and unlock new use cases,” said Base creator Jesse Pollak in an official announcement.
Chainlink Labs’ Chief Business Officer, Johann Eid, said CCIP on Base is poised to unlock a new tier of web3 innovation.
“Base and Chainlink are both building on the forefront of blockchain development as we work to bring the next wave of millions of new users into our industry,” he said. “The scalability and technological creativity of Base as a layer 2 solution, combined with an ever increasing number of Chainlink services, is a boon for developers looking to build the next generation of cross-chain applications and services.”