The Ronin network has officially adopted Chainlink’s Cross-Chain Interoperability Protocol (CCIP) after receiving approval from its validators.

This integration allows Chainlink to strengthen the security of the Ronin Bridge, which facilitates the transfer of assets between the Ronin chain and the Ethereum network.

Chainlink will help secure the Ronin Bridge

Chainlink’s CCIP was selected as the security solution after a three-phase selection process involving LayerZero and Axelar. It follows a proposal on the Ronin Network Discord channel, which validators approved amid a shared need for significantly higher security for linked assets.

Prioritizing security, validators in the Ronin ecosystem have highlighted certain specific properties that are unique to Chainlink CCIP. These include its transaction integrity property achieved through multiple decentralized oracles and customizable security features.

Read more: How to Buy Chainlink (LINK) and Everything You Need to Know

Additionally, Chainlink CCIP also enables arbitrary messaging, programmable token transfers, and future-proof adaptability. These are must-have features for developers looking to innovate in cross-chain interoperability, for example.

“Of all the solutions available on the market, adopting Chainlink CCIP as Ronin’s canonical cross-chain infrastructure was an obvious choice. This is due to the protocol’s unparalleled security features and track record of reliability. In addition to cross-chain interoperability, we look forward to working on integrating Chainlink’s suite of oracle services that will serve as an important foundation for the next phase of DeFi growth on Ronin,” said Phuc Thai, Chief Researcher at Sky Mavis, developer of Axie Infinity.

With the adoption of Chainlink’s CCIP, the Ronin network gains enhanced cross-chain security. CCIP utilizes multiple Decentralized Oracle Networks (DONs) and an independent Risk Management Network, offering high-level security features such as high-quality node operators, rate limiting, and time-locked upgrades.

Additionally, the Ronin network can leverage Chainlink’s off-chain data and computing solutions to support its developer ecosystem. All tokens on Ronin will undergo a user-triggered migration, requiring no action from token holders as the integration aims to minimize user impact.

“All assets bridged by the existing Ronin Bridge will be upgraded to use CCIP for native cross-chain transfers. This will initially start with support for transfers between Ethereum and the Ronin Network. The full migration is expected to happen in the next 2-3 months,” read a statement on Ronin’s Discord.

Chainlink Standard Services Drive Partnerships

The Ronin network’s need for a cross-chain security solution followed the recent attack on its bridge. As reported by BeInCrypto, the Ronin Bridge lost 3,996 ETH worth $9.33 million in early August due to a hack. Hence, the incident has been added to the list of attacks on the Ethereum sidechain. This comes after another exploit in 2022, where $600 million was lost after hackers accessed the private keys of its validator nodes.

“Axie/Ronin is a cursed project I swear — $600M Ronin bridge hack in March 2022 — $9.7M hack of Axie/Ronin co-founder in February 2024 — Now this bridge incident,” ZachXBT commented recently.

This series of attacks has raised questions. However, the Ronin network is not alone in adopting Chainlink’s CCIP for enhanced security. Hong Kong’s IDA Finance has also integrated Chainlink’s Proof of Reserve (PoR) and CCIP to increase the transparency and accessibility of its HKDA stablecoin. In this case, CCIP secures cross-chain data and value transfers.

Additionally, other collaborations include Swiss crypto custody and trading firm Taurus, and Bedrock, a liquid re-staking protocol. Bedrock’s integration of CCIP came after a significant exploit on September 26 involving its staked BTC token, uniBTC.

Sony’s Soneium has also integrated Chainlink’s CCIP as its core infrastructure to support the growth of the blockchain across multiple chains. These developments highlight how Chainlink’s industry-standard services continue to attract partnerships.

The article Ronin Adopts Chainlink Protocol to Enhance Security appeared first on BeInCrypto Brasil.