Starting January 15th, the Chainlink team has activated the version 1.5 update of their Cross-Chain Interoperability Protocol directly on the main network, making it accessible to all developers.
The update allows developers to easily transfer their tokens between different blockchains on their own, and they can quickly create Cross-Chain Tokens (CCTs) on over twenty blockchains within minutes.
The CCIP, or Cross-Chain Interoperability Protocol, is a reliable and user-friendly method for exchanging tokens and communications between multiple blockchain networks.
New Chainlink CCT Standard
As an analyst, I’m excited to highlight that the CCIP v1.5 now incorporates the Cross-Chain Token (CCT) standard, as Chainlink announced. This innovative standard empowers developers with complete control and ownership, boosts programmability, and ensures seamless, zero-slippage transfers, according to their statement.
The update to version 1.5 of CCIP signifies a significant improvement in user experience for CCIP developers. Now, it’s simpler than ever before to add new or current tokens to the CCT standard and incorporate CCIP into multi-chain projects.
The information provided explains that Creating Community Tokens (CCTs) doesn’t necessitate developers to include any Codebase for CCIP (Community Chain Interoperability Protocol)-specific code within their token’s smart contract. Instead, they can utilize pre-evaluated coin pool contracts, which allow them to transform any asset that is compatible with the ERC-20 standard into a CCT.
The update comes equipped with a CCIP Token Manager, offering a sleek platform for developers to effortlessly initiate and oversee CCTs (Centralized Contract Interaction Protocol Tokens).
The Chainlink CCIP v1.5 upgrade is now live on mainnet for all developers.
As a crypto investor, I’m thrilled about this update that gives developers the power to easily transfer their tokens across different blockchains on their own terms. Now, they can quickly deploy Cross-Chain Tokens (CCTs) on over 20 blockchain platforms within minutes, opening up a world of possibilities for seamless, cross-chain transactions and much more!
Full details ↓
— Chainlink (@chainlink) January 14, 2025
Developers can also oversee the deployment of CCT systems using “Smart Accounts”, a feature that necessitates approval from several account holders before any transactions are authorized.
The statement indicates that CCIP (Cross-Chain Interoperability Protocol) is intended to enhance the availability of interconnected USD Coin (USDC), which can aid in mitigating liquidity disparities and speed up the expansion of Decentralized Finance (DeFi) throughout various blockchain networks.
Zach Rynes, a representative for the Chainlink community, tried out the system himself, stating that he successfully made a Cross-Chain Token named CLG within just a few minutes and moved it across layer-2 networks such as Base and Arbitrum with ease.
Chainlink CCIP v1.5 is awesome
I’ve swiftly generated a token named $CLG, a Cross-Chain Token, within mere minutes. I then efficiently moved this token across platforms from @base to @arbitrum.
Using nothing but the latest CCIP Token Manager and Transporter.IO, you can easily generate your own tokens without any coding or permissions needed.
— Zach Rynes | CLG (@ChainLinkGod) January 14, 2025
Back in early January, I was part of a significant collaboration between Chainlink and Ripple. Our aim was to expedite the growth of Ripple’s stablecoin, Ripple USD (RLUSD), within the cross-border payments sector.
LINK Prices Up
On a given day, the native token of the protocol, LINK, experienced a growth of approximately 6%, peaking at $20.60 during early Asian trading hours on Wednesday, marking its highest point for the day.
Similar to many alternative cryptocurrencies, Chainlink (LINK) has experienced a decline in value during the past month, dropping approximately 30% from its peak of over $30 in mid-December.
Over the last 24 hours, I’ve observed that large investors, or ‘whales,’ have purchased approximately 1.35 million LINK, causing its price to rebound towards the resistance level of $20. This upturn comes after a dip to $18.24 on Monday.
The next resistance zone to overcome is around the $24 level, where LINK last tapped on Jan. 6.
Read More
- INJ PREDICTION. INJ cryptocurrency
- SPELL PREDICTION. SPELL cryptocurrency
- How To Travel Between Maps In Kingdom Come: Deliverance 2
- LDO PREDICTION. LDO cryptocurrency
- The Hilarious Truth Behind FIFA’s ‘Fake’ Pack Luck: Zwe’s Epic Journey
- How to Craft Reforged Radzig Kobyla’s Sword in Kingdom Come: Deliverance 2
- How to find the Medicine Book and cure Thomas in Kingdom Come: Deliverance 2
- Destiny 2: Countdown to Episode Heresy’s End & Community Reactions
- Deep Rock Galactic: Painful Missions That Will Test Your Skills
- When will Sonic the Hedgehog 3 be on Paramount Plus?
2025-01-15 10:31