Shiba Inu, a popular meme cryptocurrency, has integrated Chainlink's Cross-Chain Interoperability Protocol (CCIP), allowing the main Shiba Inu tokens and another meme coin Turbo to adopt the Cross-Chain Token (CCT) standard.
Breaking Cross-Chain Barriers with CCIP
The adoption of the Cross-Chain Token standard marks an important milestone for Shiba Inu and Turbo. Through Chainlink's CCIP, tokens like SHIB, BONE, LEASH, and TURBO can now be securely transferred across 12 blockchain networks. Turbo can now be transferred across BNBChain and Ethereum. Shiba Inu has also implemented CCIP in its layer 2 solution, Shibarium, ensuring the development of robust cross-chain decentralized applications (dApps).
How It Works: Unlocking Cross-Chain Transfers
The CCT standard employs Chainlink’s CCIP mechanism, which enables two key methods for cross-chain token transfers: * Lock-and-Mint Program: Facilitates token transfers from Ethereum to other supported chains. * Burn-and-Mint Program: Extends cross-chain token movement across all other networks by burning tokens on the source chain and minting them on the destination chain. These mechanisms reportedly ensure security, reliability, and interoperability.
Empowering Developers on Shibarium
Shibarium developers now have access to a infrastructure that fosters the creation of interoperable projects. Chainlink CCIP provides tools to develop feature-rich, secure dApps with reliable cross-chain functionality. A critical aspect of this integration is Chainlink's Data Streams, providing high-frequency, low-latency market data, which enhances ecosystem transparency and decentralization for developers and users.
The integration of Chainlink’s CCT standard and Data Streams opens new horizons for the Shiba Inu ecosystem, supporting the development of secure DeFi markets and expanding Shibarium's network capabilities.
