Bitlayer to Integrate Chainlink CCIP—Canonical Cross-Chain Infrastructure
28 Oct 2024
We’re excited to announce our upcoming integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) on Bitlayer as our canonical cross-chain infrastructure.
The integration will enable Bitlayer developers to build feature-rich cross-chain applications to help increase the reach of decentralized finance on Bitcoin w(BTCFi).
“We’re thrilled that Bitlayer is integrating Chainlink CCIP as its canonical cross-chain infrastructure. We look forward to seeing how the Bitlayer ecosystem utilizes CCIP to innovate and boost adoption within BTCFi.”—Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs
Bitlayer has chosen to integrate CCIP as our canonical interoperability solution due to Chainlink’s highly proven track record and excellent standard of security and reliability in the blockchain industry. Chainlink’s principle-driven approach has forged one of the largest ecosystems in the blockchain industry and established it as the industry-standard blockchain connectivity protocol across capital markets. Connecting the Bitlayer ecosystem to the Chainlink community and ecosystem offers a multitude of growth opportunities that help Bitlayer further achieve its goals.
Bitlayer is the leading layer 2 solution on Bitcoin, offering security on par with Bitcoin itself while introducing Turing-completeness to the network. Bitlayer enhances the Bitcoin ecosystem by providing secure scalability, supporting feature-rich applications, and driving innovation in the BTCFi ecosystem. With a keen focus on addressing Bitcoin’s scalability challenges, Bitlayer leverages advanced cryptographic protocols and virtual machine technology to lower transaction costs and throughput limitations. By building a native Bitcoin layer 2 using the BitVM framework, Bitlayer helps enable developers to leverage existing smart contracts from Solidity, Vyper, and other EVM-compatible languages. As Bitlayer continues to prioritize decentralization across its architecture, it remains committed to delivering an innovative solution that paves the way for a more efficient, secure, and usable Bitcoin experience.
Since the Taproot upgrade in 2021, a foundation has been laid for BTCFi, sparking innovative ideas for leveraging Bitcoin’s liquidity in onchain applications. BTCFi presents a unique opportunity for developing groundbreaking applications. Chainlink and Bitlayer are well positioned to lead the expansion of these DeFi solutions on Bitcoin, providing a secure framework that promotes innovation and maximizes the potential of BTCFi.
Chainlink CCIP provides a multitude of important benefits and features, such as:
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Battle-tested security—CCIP’s consensus and messaging layer is powered by Chainlink decentralized oracle networks, which have already secured tens of billions of dollars for smart contracts and enabled over $16 trillion in onchain transaction value. CCIP also features additional layers of protection and reliability via transfer rate limits and Smart Execution.
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Programmable Token Transfers—CCIP messages are programmable, meaning token transfers and arbitrary data transfers can be one atomic transaction. This enables instructions to be passed in the data payload regarding what to do with the tokens once they arrive at the destination chain.
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Seamless integration—CCIP offers a unified cross-chain developer experience by providing a single, easy-to-integrate interface. Developers only need to integrate the CCIP Router onchain to start building secure cross-chain applications.
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Extendable and future-proof—CCIP is built to support continuous updates, such as the integration of new blockchains, the introduction of advanced functionalities, and the addition of other defense-in-depth approaches to security. Thus, integrating with CCIP minimizes future switching costs should new cross-chain functionalities be needed.
“We’re excited to be integrating the industry-standard Chainlink CCIP as our canonical cross-chain infrastructure. In order to enhance Bitlayer and enable cross-chain capabilities, we needed a highly secure solution, and Chainlink’s impeccable security track record made integrating CCIP an easy choice.”—Charlie Hu, co-founder of Bitlayer
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $16 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
About Bitlayer
Bitlayer is the first Bitcoin Layer 2 based on Bitcoin finality.
Bitlayer provides developers and users with a native Bitcoin Layer 2 environment through its innovative technologies including OpVM, Finality Bridge, and RtEVM. This platform ensures Bitcoin-equivalent security, a trustless cross-chain bridge, and a real-time EVM programming environment.
For inquiries or comments contact [email protected].
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