Shiba Inu and TurboToadToken Adopt Chainlink's CCIP for Cross-Chain Operations

user avatar

by Giorgi Kostiuk

2 years ago

Shiba Inu is among the first to implement Chainlink's Cross-Chain Interoperability Protocol (CCIP), opening up new possibilities for SHIB, BONE, and LEASH tokens.

Breaking Barriers with Chainlink CCIP

The adoption of the Cross-Chain Token (CCT) standard marks a transformative step for Shiba Inu and TURBO. Utilizing Chainlink's CCIP, tokens like SHIB, BONE, LEASH, and TURBO can now be transferred securely across 12 blockchains, while Turbo can now be transferred across the BNBChain and Ethereum networks. Shiba Inu's layer-2 solution, Shibarium, has also integrated Chainlink CCIP, enabling developers to build robust decentralized applications that operate across different blockchains within the Shibarium ecosystem.

How It Works: Cross-Chain Transfers

The CCT standard employs Chainlink’s CCIP, which enables two key methods for cross-chain token transfers:

* The Lock-and-Mint Program, facilitating token transfers from Ethereum to other supported chains.

* The Burn-and-Mint Program, extending cross-chain token movement by burning tokens on the source chain and minting them on the destination chain.

Empowering Developers on Shibarium

Shibarium developers now have access to infrastructure that supports the creation of interoperable projects. Chainlink CCIP provides tools for developing secure dApps with cross-chain capabilities.

“Chainlink CCIP enables Shibarium developers to build reliable cross-chain applications that grow the Shibarium network,” stated Shiba Inu's team.

The integration of Chainlink CCIP is a significant milestone for the Shiba Inu ecosystem, enabling secure and efficient DeFi markets while expanding opportunities for developers and users.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Google Launches TPU 8tx and TPU 8i Max AI Systems to Challenge Nvidia

Google has launched TPU 8tx and TPU 8i Max AI systems to enhance privacy and memory capabilities, aiming to compete with Nvidia.

user avatarKofi Adjeman

Nvidia's Stock Plummets Amid Scandal and Google’s AI Chip Launch

Nvidia's stock has dropped significantly following CEO Jensen Huang's admission of an extramarital affair, coinciding with Google's announcement of new AI chips.

user avatarNguyen Van Long

FATF to Review Jurisdictions with Weak Virtual Asset Oversight

The Financial Action Task Force (FATF) will review jurisdictions with longstanding shortcomings in virtual asset regulation to identify necessary actions for the upcoming plenary.

user avatarSatoshi Nakamura

Stellar Development Foundation Makes Strategic Investment in Marketnode

On October 29, the Stellar Development Foundation announced a strategic investment in Marketnode to enhance institutional access to tokenized investment products in the Asia-Pacific region.

user avatarJesper Sørensen

Tokenization Efforts in Wall Street Face Challenges

Tokenization efforts on Wall Street face challenges as major companies opt out, highlighting volatility and illiquidity in the market.

user avatarRajesh Kumar

NYSE Partners with Avalanche for Tokenized Securities Platform

The New York Stock Exchange has partnered with Avalanche to create a tokenized securities platform, aiming for 24/7 trading and settlement, pending regulatory approval.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.