Ronin has built-in Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to boost the safety of its cross-chain bridge, in keeping with an Oct. 10 assertion shared with CryptoSlate.
Ronin defined that each one crypto at the moment bridged utilizing the Ronin Bridge will transition to CCIP for native cross-chain transfers.
The community will initially help transfers between Ethereum and Ronin. The total migration course of is anticipated to take two to a few months.
Why CCIP?
Ronin revealed that it performed a radical choice course of, contemplating LayerZero and Axelar earlier than selecting Chainlink’s CCIP as its major cross-chain infrastructure.
In accordance with Ronin, CCIP was chosen as a consequence of its superior safety, which is achieved by a number of Decentralized Oracle Networks (DONs), an unbiased threat administration community, high-quality node operators, and extra safety measures similar to fee limiting and time-locked upgrades.
The blockchain gaming platform defined that its CCIP integration is anticipated to considerably increase the safety of belongings transferred to the Ronin Community. Moreover, it’ll enhance person expertise and unlock sources to speed up Ronin’s adoption.
Sky Mavis head researcher Phuc Thai mentioned Chainlink’s CCIP safety and reliability made it an apparent selection for the gaming community. Thai added:
“Past cross-chain interoperability, we’re eager to work on integrating Chainlink’s suite of oracle companies that may function an essential basis for the following part of DeFi development on Ronin.”
Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs, additionally expressed enthusiasm on the transfer, stating:
“CCIP will empower the Ronin group to take full benefit of the multi-chain panorama and speed up the adoption of Web3 gaming.”
Ronin’s safety challenges
The partnership follows a current white-hat Maximal Extractable Worth (MEV) $10 million exploit on the Ronin community, which brought on the community to halt operations and reignited considerations round its bridge safety.
In 2022, the community suffered one of many largest hacks in crypto historical past, dropping over $600 million in belongings. Since then, Ronin has labored to strengthen its safety, transitioning to a specialised bridging answer and conducting audits with two exterior corporations to enhance its resilience.
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