Shiba Inu and Chainlink Join Forces: Enhanced Interoperability for Shibarium Ecosystem
Shiba Inu Shiba Inu Inc. (SHIB), the popular memecoin, announced on December 19 a strategic partnership with Chainlink, one of the leading decentralized oracle data providers in the market. The collaboration aims to boost interoperability across the Shiba Inu ecosystem, especially on Shibarium, its layer-2 scaling solution on the Ethereum network.
In your anúncio , the project explained that the Shiba Inu ecosystem, which encompasses Shibarium, will adopt the Chainlink Standard to enhance cross-chain token (CCT) functionality across no less than 12 different blockchains. This integration represents a significant step forward for the usability and adoption of Shiba Inu tokens.
“We are excited to announce that Shibu Inu and Chainlink are partnering to expand the Shiba Inu ecosystem, while Shibarium has integrated the Chainlink standard for blockchain interoperability as its canonical cross-chain infrastructure,” he announced.
It is worth noting that, with this new integration, Shiba Inu tokens, mainly BONE and LEASH, will now be accessible on multiple blockchains through blocking and minting mechanisms, in addition to the already existing burning and minting mechanism.
“Ecosystem assets Shiba Inu (SHIB), BONE, and LEASH have also adopted the Cross-Chain Token (CCT) standard to make Shiba Inu assets available across 12 blockchains. The lock-and-mint mechanism enables token transfers from Ethereum to other chains, while the burn-and-mint mechanism facilitates cross-chain transfers across all other networks. The Chainlink CCIP enables Shibarium developers to build reliable, feature-rich cross-chain applications that expand the Shibarium network.”
Commenting on the integration, Johann Eid, Chief Business Officer at Chainlink Labs, highlighted : “We are excited to partner with Shiba Inu and develop their ecosystem together. The integration of Chainlink CCIP as Shibarium’s canonical cross-chain solution and Shiba Inu’s adoption of the CCT standard will enhance their capabilities and drive broad adoption of their ecosystem.”
Shibarium is a layer 2 (L2) blockchain network built on Ethereum. It is designed to improve the scalability, speed, and cost-effectiveness of transactions within the Shiba Inu ecosystem.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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