On April 11, Chainlink announced Transporter, which it described as “the next evolution in cross-chain bridging.”
The application is powered by Chainlink's Cross-Chain Interoperability Protocol (CCIP), which allows smart contracts to securely access data from external systems and enable trustless data connectivity between blockchains.
“Having a secure way to move both value and data between chains is something the blockchain industry has needed for years,” commented Chainlink co-founder Sergey Nazarov.
We are delighted to present to you @transporteur_iothe next evolution of cross-chain bridging, powered by #Chain link CCIP.
Transporter is your gateway to the multi-chain world.
Cross channels with confidence: pic.twitter.com/ANNWiFfXdC
– Chainlink (@chainlink) April 11, 2024
The evolution of chain links continues
Bridges play an important role in connecting different blockchains, but have recently been the target of exploits and hacks.
Initially, Transporter is available for Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Optimism and Polygon.
“Transition assets should not feel like throwing tokens into a black hole,” said the Chainlink team, who added that Transporter’s visual transaction tracking provides users with real-time updates on the exact status of their cross-chain transfers, end-to-end. END.
“Transporter makes it easy to use the security benefits of Chainlink’s CCIP for transferring important token values and critical messages between chains,” Nazarov explained.
In a separate blog post On April 11, Chainlink also introduced a new “lock and unlock” token transfer mechanism for CCIP. This allows native tokens like ETH to be securely transferred across different blockchain networks.
With the latest feature, CCIP now supports three token transfer methods: burn and mint, lock and mint, and lock and unlock.
Chainlink also introduced an optimized pricing model for CCIP to make it one of the most cost-effective solutions for cross-chain token transfers.
According to According to Dune Analytics, CCIP network fees and revenue have been increasing recently, with a record $258,170 in March, more than 300% higher than February's figure.
LINK Price Outlook
Like most altcoins, LINK has undergone a correction since its 2024 high in mid-March. However, recent product announcements have given the asset a 4.7% increase over the past 12 hours, hitting an intraday high of $18.
However, LINK is down 18% from its high of $21.70 on March 11 as altcoins remain lackluster.
The asset is also down 66% from its all-time high price of $52.70 in May 2021, but analysts see great potential in LINK in the coming season due to its asset tokenization properties of the real world (RWA).
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