Chainlink hits Ethereum layer-2 Arbitrum for cross-chain DApp development to build web 3.0 websites and applications.
Chainlink hits Ethereum layer-2 Arbitrum for cross-chain DApp development

Chainlink and Arbitrum One Partner to Unlock Cross-Chain Development

Chainlink, a blockchain oracle network, has partnered with Ethereum layer-2 scaling protocol Arbitrum to launch the Chainlink Cross-Chain Interoperability Protocol (CCIP) on Arbitrum One’s mainnet. This protocol will allow developers to access Chainlink’s solution, which is built on Arbitrum’s high-throughput, low-cost scaling capabilities.

The CCIP and Arbitrum One’s ecosystem are expected to open up a range of use cases, including cross-chain tokenization, blockchain gaming, data storage, and computation. Johann Eid, Chainlink Labs’ chief business officer, commented on the partnership, noting that Arbitrum’s role is to reduce transaction congestion on Ethereum’s base layer and provide a platform for DApp development.

The Power of Web 3.0

Arbitrum’s optimistic rollup technology, which currently accounts for around 60% of the total value locked in the Ethereum layer 2 ecosystem, is set to marry with CCIP. This will enable developers to construct cross-chain DApps with the help of Chainlink’s decentralized oracle network, allowing smart contracts to access off-chain data sources, APIs, and payment systems.

By making it possible for smart contracts to interact with real-world data and events, the protocol facilitates the triggering of smart contracts from external sources. This is the power of Web 3.0 and the next generation of online business, exemplified by the use of AI technology and the ability to access web 3.0.

To build a website that utilizes Web 3.0, developers must be familiar with the history of web 1.0, 2.0, and 3.0, as well as the various examples of web 3.0 applications. With the right business ideas, it’s possible to create a successful web 3.0 website.

In February 2023, StarkWare, a prominent Ethereum scaling technology company, utilized Chainlink’s oracle services. As reported by Cointelegraph, StarkWare’s zero-knowledge proof rollup protocol StarkNet integrated Chainlink’s data feeds and price feeds into its system.

This article can be collected as an NFT to commemorate this event and demonstrate support for independent journalism in the crypto sphere.

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