Blockchain News

Linear integrates Chainlink CCIP to enable cross-chain LINA transfers

The announcement by Linear to integrate with Chainlink CCIP is great news for the cryptocurrency world as it will provide industry standards for safeguarding cross-chain interoperability between Ethereum Mainnets and the BNB chain. Cross-chain LINA transfers can be effectively secured by leveraging CCIP’s arbitrary messaging functionalities, which allow users to stake LINA over multiple chains.

CCIP was chosen as the most preferred interoperability solution since Chainlink has a proven track record of upholding the highest standards of reliability and security in the web3. Furthermore, CCIP has been supported by a reliable Risk Management Network, which is a separate and independent network that continuously checks and monitors cross-chain operations to limit the prevalence of suspicious activity. This additional security layer is significant because of the historical insights and relevance it leverages.

As a result of the unreliability and insecurity of the cross-chain infrastructure, users lose billions of dollars in funds. Linear Financing features cross-chain compatibility, which is secured via a delta-one asset protocol, allowing users to trade liquid assets swiftly and effortlessly. As a result, it is expected to be very cost-effective. It identifies the Builder dApp for staking with an exchange of liquid assets in trading as a tool for securing cross-chain LINA swaps. Furthermore, it can be used to generate yield through progressive development.

In order to develop a secure cross-chain LINA transferring process, it is highly necessary to opt for a highly reliable and secured interoperability solution. Following an examination of various solutions, the integration with Chianlink CCIP has been launched since it delivers a greater number of major benefits and characteristics, which include:

Seamless Integration- CCIP provides a single-way interface and simple integration for developers to enjoy collective cross-chain development. Developing safe cross-chain applications requires developers to integrate CCIP Router on-chain more than before.

Time-tested reliability and security- The messaging and consensus layer of CCIP is powered by the Chainlink network for decentralized oracle, which has already secured ten billion dollars for enabling smart contracts and is approaching over $9 trillion for acquiring on-chain transaction value. CCIP features additional layers of reliability and protection through a Risk Management Network and Smart execution.

Future-Proof- It is another advantage as CCIP is designed to provide continuous upgradation regarding introducing advanced functions, integration with upgraded blockchains, and implementation of defense-in-depth approaches for security development. Through this, CCIP can omit future costs for switching through the integration of cross-chain functionalities.

According to Liner Finance’s Product Lead, Jason, they are eager to incorporate the industry-standard Chainlink CCIP to ensure safe cross-chain LINA transfers. Their cross-chain solution will support continuous updates, scale smoothly with their protocol, and offer best-in-class security by upgrading to CCIP.

Erica Lee

Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space. She believes that blockchain technology has tremendous potential to make our lives better.

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