Ronin Network Partners with Chainlink for Enhanced Security on Ronin Bridge
Ronin Network made a significant announcement today, revealing their decision to integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to bolster the security of their Ronin Bridge. This move is set to fortify the network’s cross-chain infrastructure, providing users with increased peace of mind and confidence in their transactions.
The selection process for this integration was rigorous and thorough, spanning three competitive phases. Ultimately, Chainlink emerged as the top choice, surpassing other contenders such as LayerZero and Axelar. The bridge validators at Ronin were particularly impressed by Chainlink’s CICIP due to its robust security features. The protocol boasts multiple Decentralized Oracle Networks (DONs), an independent Risk Management Network, and various other security measures that significantly mitigate the risk of attacks and vulnerabilities.
Phuc Thai, the Head Researcher at Sky Mavis, emphasized the paramount importance of security in the decision-making process. According to Thai, “Security was the number one most important factor when deciding which cross-chain protocol would secure the future of the Ronin ecosystem.” He also expressed excitement about integrating Chainlink’s suite of oracle services, which will play a pivotal role in driving the next phase of DeFi growth on Ronin.
The integration will kick off with support for bridge transfers between Ethereum and Ronin, with plans for a seamless migration in the coming months. Chainlink’s CCIP has already been embraced by numerous major financial institutions and market infrastructure providers, including BNY Mellon, Citi, Euroclear, Lloyds Banking Group, and Taurus SA, backed by Deutsche Bank. Additionally, blockchain projects like ZKsync, Sonic Labs, and Celo have also placed their trust in Chainlink’s solution.
Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs, highlighted the potential of secure interoperability powered by CCIP. He stated, “Secure interoperability powered by CCIP will empower the Ronin community to take full advantage of the multi-chain landscape and accelerate the adoption of Web3 gaming.”
With this strategic partnership in place, Ronin Network is poised to enhance the security and efficiency of their cross-chain operations, paving the way for a seamless and secure experience for users. Stay tuned for more updates as the integration progresses and brings new possibilities to the Ronin ecosystem.