Shibarium, Shiba Inu's Layer-2 blockchain network, has partnered with Chainlink to provide cross-chain interoperability and integrate advanced data for its growing decentralized ecosystem.
With the adoption of Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Cross-Chain Token (CCT) standard, Shiba Inu assets like SHIB, LEASH, and BONE can now operate seamlessly across 12 blockchains.
Shiba Inu, Chainlink Collaborate to Develop Interoperability Standards
This is a significant milestone that opens opportunities for new multi-chain applications, driving greater adoption and sparking a new era of growth for the Shiba Inu ecosystem. According to Johann Eid, Business Director at Chainlink Labs, the Shiba Inu ecosystem can achieve enhanced capabilities and increased adoption following the integration of Chainlink's CCIP as the official cross-chain solution for Shibarium and the adoption of Shiba Inu's CCT standard.
The optimism comes from the CCT standard enabling Token transfers through mechanisms like lock-and-mint and burn-and-mint. This allows assets to move securely from Ethereum to other blockchains and vice versa.
As part of the collaboration, Shibarium has also integrated Chainlink Data Streams to provide premium, high-frequency market data. This service, known for its low latency and high transparency, delivers liquidity-weighted bid-ask spreads and execution speeds under a second. By leveraging this proven infrastructure, Shibarium aims to support efficient and secure DeFi market operations.
“By integrating CCIP and the CCT standard, SHIB, LEASH, and BONE will reach out across multiple chains for the first time with superior safety, reliability, and integrated burning mechanisms. This milestone opens up opportunities for many innovative multi-chain applications, driving greater adoption and sparking a new era of growth and capability for the Shiba Inu ecosystem,” said Kaal, a technology expert at Shiba Inu.
Thus, the SHIB, LEASH, and BONE Tokens will be able to move between chains safely, reliably, and with integrated burning mechanisms. With this integration, Shibarium developers now have access to advanced tools to build cross-chain applications. This could expand the capabilities for DeFi (DeFi) markets and broader blockchain innovation.
This development adds to the series of upgrades in the Shibarium blockchain. Recently, it has enhanced user privacy with a new encryption step. Previously, it had also hinted at a fork with the Shibarium Bridge upgrade.
Chainlink's Industry-Wide Impact
Shiba Inu is not the only case leveraging Chainlink's breakthrough technology. Other major blockchain initiatives like Hedera, Coinbase's Diamond Project, and Trump’s World Liberty Financial are also utilizing Chainlink's capabilities to enhance their ecosystems.
Hedera has recently integrated Chainlink Data Streams to support DeFi capabilities and real-world assets (RWA). This integration facilitates secure data inputs, enabling the development of scalable financial applications.
In the DeFi space, Trump’s World Liberty Financial has adopted the Chainlink standard to expand its ecosystem. These integrations reflect Chainlink's role as a linking force in innovation, driving secure and interoperable financial systems.
However, the latest collaboration between Shiba Inu and Chainlink reflects a broader trend of blockchain ecosystems pursuing interoperability and advanced data solutions to maintain competitiveness. By adopting the CCT standard and Chainlink's new infrastructure, Shiba Inu aims to promote widespread adoption and innovation within its ecosystem.
SHIB price movements. Source: TinTucBitcoin
Despite this development, Shiba Inu's native Token, SHIB, has decreased nearly 10%, currently trading at $0.00002188.
