- Sonic Labs has become the latest firm to join the Chainlink Scale Program to leverage its multiple cutting-edge solutions to boost adoption and growth.
- Sonic Labs disclosed that Chainlink has a proven track record of maintaining the maximum standard of security, which is the reason for this decision.
Sonic Labs has announced a strategic partnership with Chainlink (LINK), joining Fantom to integrate the Chainlink Data Feed and Cross-Chain Interoperability Protocol (CCIP) into the Sonic Network.
💥 We’re excited to announce that we’ve joined the @Chainlink Scale program and integrating Chainlink Data Feeds and CCIP into #Sonic! Scale allows us to cover Chainlink costs, empowering developers to build feature-rich apps with high-quality oracle services.
Chainlink Data… pic.twitter.com/q19WRbbGE0— Sonic Labs (prev. Fantom) 💥 (@0xSonicLabs) September 3, 2024
According to the official post, this collaboration would enable Sonic ecosystem developers to access the necessary tools to build feature-rich on-chain apps using Chainlink’s cutting-edge solutions. In addition to that, developers are reported to stand a chance of accessing high-quality, low-cost Oracle services. However, Sonic would take care of the Chainlink Oracle network operating costs for some time before transitioning to the app user fee.
Sonic Labs justified its decision to join forces with Chainlink by explaining that Chainlink’s CCIP has a strong reputation for maintaining the highest security and reliability standards within the blockchain industry. As CNF earlier reported, Chainlink CCIP is the only interoperability solution with level-five cross-chain security.
Adding to this, CCIP is backed by a risk management network which continuously monitors and verifies cross-chain operations for suspicious activities.
According to Sonic Labs CEO Michael Kong, Chainlink provides an industry-standard Oracle service that could benefit its developers.
We joined Chainlink Scale because it’s one of the most popular ways to make industry-standard Oracle services available to Sonic developers. Chainlink Data Feeds will enable the development of high-quality DeFi applications, while CCIP will provide secure and reliable blockchain interoperability for the Sonic ecosystem. Developers asked for Chainlink, and we have it.
Key Benefits and Features of Chainlink CCIP
According to our review of the Sonic Labs report, Chainlink CCIP has four crucial merits and features that position it above competitors. The first is said to be its seamless integration. This ensures that developers only integrate the CCIP Router on-chain to begin the application-building process.
The second is its scalable architecture. CCIP eliminates the need for developers to write custom codes for chain-specific integration, implying that users would be able to interact with multiple blockchains from a single interface.
The third is that it is extendable and future-proof. As Sonic Labs states, the protocol supports continuous updates, including the introduction of advanced functionalities and the addition of an extra layer of defence-in-depth approaches to security.
Finally, its consensus and messaging layer is powered by the decentralized oracle network of Chainlink. The network has a track record of enabling over $14 trillion in on-chain transaction value and securing tens of billions of dollars for smart contracts.
Commenting on this, Chainlink Labs’ Chief Business Officer, Johann Eid, expressed his excitement about the collaboration.
We’re excited that Sonic Labs has joined the Chainlink Scale program and that Chainlink Data Feeds and CCIP are being integrated into Sonic. By empowering Sonic developers with increased access to Chainlink services, they’re able to build secure, scalable, and fully-featured on-chain apps.
At press time, LINK was trading at $10.29 after declining by 9.7% in the last seven days.
Recommended for you:
No spam, no lies, only insights. You can unsubscribe at any time.
Credit: Source link
