Shiba Inu and Chainlink Partner to Enable Cross-Chain Ecosystem
Shibaium, Shiba Inu’s layer 2 blockchain network, has partnered with chain link Bringing cross-chain interoperability and advanced data integration to its growing decentralized ecosystem.
By adopting Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Cross-Chain Token (CCT) standards, Shiba Inu Assets such as SHIBLEASH and BONE now run seamlessly across 12 blockchains.
Shiba Inu partners with Chainlink to develop interoperability standards
This milestone paves the way for novel multi-chain applications, driving wider adoption and ushering in a new era of growth for the Shiba Inu ecosystem. Chainlink Labs chief commercial officer Johann Eid said that after integrating Chainlink’s CCIP into Shibarium’s canonical cross-chain solution and Shiba Inu adopting the CCT standard, the Shiba Inu ecosystem can achieve enhanced functionality and higher adoption rates.
The optimism arises because the CCT standard allows for token transfers through mechanisms such as locking and minting as well as burning and minting. This allows assets to be safely transferred from Ethereum to other blockchains and back.
As part of the partnership, Shibarium has also integrated Chainlink Data Streams to provide high-quality, high-frequency market data. Known for its low latency and high transparency, the service offers liquidity-weighted bid-ask spreads and sub-second execution speeds. By leveraging this proven infrastructure, Shibarium aims to support efficient, secure Decentralized Finance Market operations.
“By integrating CCIP and CCT standards, SHIB, LEASH and BONE will, for the first time, span multiple chains in an unparalleled way. Safetyreliability and built-in combustion mechanism. This milestone paves the way for more innovative multi-chain applications, driving wider adoption and opening up a new era of growth and possibilities for the Shiba Inu ecosystem. ” explain Kaal, technical expert at Shiba Inu.
So, in summary, this means that SHIB, LEASH, and BONE tokens will be able to move safely and reliably across chains, with a built-in destruction mechanism. With this integration, Shibarium developers can now use advanced tools to build cross-chain applications. This could expand the possibilities for the decentralized finance (DeFi) market and broader blockchain innovation.
This development adds to a series of upgrades for the Shibarium blockchain. Recently, it has enhanced user privacy in the following ways: New encryption steps. Prior to this, it had also hinted at Shibarium bridge upgrade.
Chainlink’s impact on the entire industry
Shiba Inu isn’t the only company taking advantage of Chainlink’s transformative technology. Other major blockchain initiatives, such as Hedera, Coinbase’s Project Diamond, and Trump’s World Liberty Financial, are also leveraging Chainlink’s capabilities to enhance their ecosystems.
Hedera recently integrated Chainlink data streams Enhance its DeFi and real-world asset (RWA) capabilities. This integration enables secure data entry, enabling the development of scalable financial applications. Similarly, Coinbase’s Diamond project uses Chainlink’s CCIP Target institutional investors by enabling seamless tokenized asset transfers across blockchains.
In the DeFi field, Trump’s World Free Financial Corporation Adopts Chainlink Standard Expand its ecosystem. These integrations reflect Chainlink’s role as a unifying force for innovation, fostering secure and interoperable financial systems.
However, the latest partnership between Shiba Inu and Chainlink reflects a broader trend of the blockchain ecosystem embracing interoperability and advanced data solutions to stay competitive. By adopting the CCT standard and Chainlink’s novel infrastructure, Shiba Inu aims to drive widespread adoption and innovation within its ecosystem.
Despite this progress, Shiba Inu’s native token SHIB has fallen by nearly 10% and is currently trading at $0.00002188.
Disclaimer
follow trust project BeInCrypto is committed to fair and transparent reporting. This news article is designed to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on the content of this article. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
