Chainlink, a leading oracle project, has launched its cross-chain bridge Transporter today, based on its proprietary Cross-Chain Interoperability Protocol (CCIP). This is the first time Chainlink has provided services to general users, and it is expected to enhance the brand value of Chainlink.
Table of Contents:
1. Background: What is CCIP?
2. CCIP can transmit diverse data
3. Security of CCIP
4. Chainlink launches its own cross-chain bridge Transporter
5. Introduction to Transporter
6. Transporter’s security is based on CCIP
7. Transporter can bring more brand value to Chainlink
8. CCIP is a cross-chain messaging protocol launched by Chainlink, which provides Web3 project teams with a transmission infrastructure based on the oracle framework. It enables the integration of information from various networks in a more secure manner.
9. The special feature of CCIP is that it is based on Chainlink’s own oracle infrastructure, allowing cross-chain transactions without the need for additional trust assumptions. Unlike most cross-chain bridges that can only transmit token assets, CCIP can transmit more diversified information, including NFTs, decentralized identities, liquidity within protocols, wallet signatures, and governance voting results.
10. For example, AAVE’s governance module, Aave Governance V3, is based on the CCIP protocol, which transmits voting governance results from different blockchains to Ethereum for verification, and then returns the verification results to the respective blockchain to trigger code updates by bots.
11. Recommended reading: Detailed explanation of the Aave governance module V3 functions and processes. This article provides a complete breakdown of the most classic cross-chain governance case, helping readers understand the need for cross-chain verification of governance results and gain a more specific understanding of what information CCIP transmits.
12. The RPG game project KMON has recently announced its integration with the CCIP protocol, allowing NFTs in the game to be cross-chain transferred without the need for the project to build its own dedicated cross-chain bridge.
13. The Ethereum Name Service (ENS) can securely cross-chain its domain names to other networks by integrating with CCIP. This mechanism has received praise from Vitalik due to its security.
14. CCIP’s advantage lies in its flexibility to assist in the transmission of diverse data across different blockchain networks without increasing complexity or trust assumptions, ensuring protocol security.
15. The Chainlink CCIP network architecture mainly consists of the message transmission route, risk management network, decentralized oracle networks (DON), and bilateral blockchain networks.
16. This architecture provides CCIP with stable security sources:
a. Decentralized Oracle Networks: CCIP uses multiple independent decentralized oracle networks to further enhance its security. Each node has an independent key, ensuring the absence of a single point of failure.
b. Independent Risk Management Network: CCIP has a risk management network constructed by different teams using different programming languages, which can independently monitor and verify the CCIP network.
c. Configurable Transmission Rate Limit: CCIP’s transmission infrastructure provides project teams with customizable rate limits, limiting the total value of cross-chain transmission within a specific time period to reduce the impact in the event of worst-case scenarios.
17. Chainlink has expanded its business scope to provide cross-chain services to general users through the introduction of its own cross-chain bridge, Transporter.
18. Transporter’s interface currently supports Ethereum, Arbitrum, Avalanche, BNB Chain, Base, Optimism, Polygon, and WEMIX networks.
19. The supported token types vary depending on the network, but most networks support ETH, USDC, and LINK. Some networks also support LRT, such as ETHx and rsETH. It can be seen that Chainlink aims to capture market trends and promote this service to general participants. However, it is interesting to note that USDT is currently not available as an option.
20. Transporter is the front-end interface that interacts with users, while the underlying infrastructure is based on CCIP and Chainlink’s oracle network. All Transporter transactions are protected by Chainlink CCIP, ensuring the security features mentioned above.
21. The most important feature of a cross-chain bridge is security, and CCIP has not experienced any major security incidents since its operation, which indeed gives Chainlink’s own cross-chain bridge, Transporter, a significant advantage.
22. In addition to driving the adoption and visibility of CCIP, Transporter can increase the brand value of Chainlink.
23. The significance of Transporter to Chainlink is not just a new service but an expansion of its business scope to general users. It is the first attempt to enter the B2B and infrastructure markets, and it is expected that more services targeting general users will be seen in the future, bringing more brand value to Chainlink.
24. Chainlink
25. LINK
26. Transporter