Chainlink has launched its cross-chain interoperability protocol (CCIP) in its "early access" phase, which aims to link applications across public and private blockchains. CCIP has already been adopted by Synthetix on mainnet for cross-chain transfers between Ethereum, Optimism, and other chains. From July 20, CCIP will be available to other developers across five testnets.
Unlike typical cross-chain bridges, CCIP leverages smart contract-enabled mechanisms between "audited token pools" across different chains, allowing for more seamless interactions. The CCIP system can benefit cross-chain lending applications, cross-chain data storage, liquid staking, and gaming apps between multiple chains.
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