GM GM! Firstly, I’d like to thank everyone that has put their personal time, effort to learn something new. 🙏
Web3 today consists of hundreds of independent L1 chains, L2 rollups, app chains, sidechains, subnets, and more launching every week, to create a truly interoperable Web3 ecosystem, data and value needs to be able to move seamlessly between chains this is where bridges come in…
While there exists a number of cross-chain bridges, security remains a large challenge. Over $2.6B has been exploited in cross-chain bridge hacks in total.
Properly securing cross-chain interactions is an extremely difficult task!!
It seems like every other week we hear of another cross-chain bridge hack, Whether it’s due to shipping rushed low-quality code or complete incompetence like losing access to server keys because the CEO was arrested.
Obviously a better solution is required!!
The Cross-Chain Interoperability Protocol (CCIP) is a cross-chain messaging solution from Chainlink Labs that has been designed from the ground-up with security as the priority. Only with a secure foundation a truly interoperable Web3 economy can exist!!
Ultimately, CCIP represents a paradigm shift for the Web3 economy, enabling the secure transfer of both tokens and data across any blockchain network, without the major security headaches that have afflicted existing solution.
Top comments (0)