Chainlink Transporter will connect assets on Ethereum, Optimism, Base, and other networks

Chainlink, an Oracle service, has introduced a new cross-chain bridging software that promises “unmatched” security by linking the blockchain.

Chainlink, a leading decentralized oracle provider, has released an app that facilitates the transfer of cryptocurrency between different chains. App users will be able to move tokens across many networks with the help of Transporter, including Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Optimism, Polygon, and WEMIX.

A spokeswoman from Chainlink informed Decrypt that “bridging crypto between chains has long been a dangerous activity,” and that “bridge hacks accounting for roughly 50% of all value compromised in DeFi” demonstrate this point. “Users can now rest easy while transmitting tokens and messages cross-chain thanks to Transporter, which uses Chainlink CCIP’s (cross-chain interoperability protocol) unparalleled security and dependability.”

The risky transfer of tokens from one blockchain to another has long been an integral part of utilizing cryptocurrencies. Attacks on crypto bridges were responsible for 69% of the funds stolen in 2022, according to Chainalysis. One crypto bridge was especially attractive to hackers affiliated with North Korea, and it earned $190 million. These concerning numbers will supposedly go down because of the security level of Chainlink’s CCIP.

“Secure bridging is important to unleashing this fast-growing business for more mainstream customers,” a spokesman from Chainlink told Decrypt. Connecting disparate onchain settings and unlocking enclosed liquidity, Transporter enables users to securely transport crypto across this multi-trillion dollar ecosystem.

Aside from security concerns, bridge protocols may be complicated and hard to use. Recently, there has been an uptick in bridge applications that aim to fix this problem. Wormhole stands out among them; it sought to eliminate “usual obstacles of cross-chain contacts” but received mixed feedback.

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