- Ronin Validators chose Chainlink’s CCIP to improve the security of assets bridged on the Ronin network after a competitive vote.
- The Ronin community showed strong support, with more than 224 million RON tokens staked by 285,083 unique delegaters, underscoring the ecosystem’s confidence.
The Ronin Validator community has taken a huge step forward by deciding to adopt Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the network’s canonical cross-chain architecture.
This choice underlines the network’s commitment to increasing overall reliability and is intended to increase the security of the connected assets Ronin. Notable partners, including Layer Zero and Axelar, who participated in the distributed selection process were part of the rigorous and cooperative process that led to this integration.
.@Ronin_Network adopts Chainlink CCIP as its canonical cross-chain infrastructure.https://t.co/brdI1RyNvO pic.twitter.com/RA7uoAXOJk
— Chainlink (@chainlink) November 1, 2024
Ronin is moving towards a stronger bridge solution
Ronin started a necessary process in August by asking two outside companies to audit the Ronin Bridge. This action was motivated by a clear goal: increasing the safety and accessibility of the ecosystem.
These audits highlighted the need for a strong and established bridging solution to lead Ronin to begin a thorough, three-phase request-for-proposal (RFP) process in September. Three potential providers – Layer Zero, Axelar and Chainlink CCIP – have prepared this RFP.
After extensive evaluation and a tough voting procedure, the final choice was decided in October. With 10 votes, Chainlink CCIP won the majority, Layer Zero trailed with 3 votes and Axelar earned none. For Ronin, this result marked a turning point as it underlined the need for Chainlink’s solution to improve the network’s infrastructure.
The move to Chainlink’s CCIP was planned with the community in mind and ensures little disruption. Users of the network should be relieved that the current Ronin tokens do not require any manual migration actions, streamlining the process for token holders.
Under the migration strategy, all assets linked via the current Ronin bridge will transition to using CCIP for native cross-chain transfers. This support will primarily cover movements between Ethereum and the Ronin network; The entire migration is expected to be completed within two to three months.
Complementing Ronin’s remarkable ecosystem development, CNF before reported the deep community involvement with over 224 million RON tokens staked by 285,083 unique delegates.
This large share indicates the community’s confidence in the future of the network. With 772,278 active members and highlighting the network’s central importance in the growing Web3 gaming environment, Pixels Online has also become a major player on the Ronin Network.
Meanwhile, with a daily trading volume of $8.35 million, the native token RON was trading for around $1.32A 3.92% decreased in the last 24 hours.
Credit : cryptonews.net
