TL;DR
- Mode integrates Chainlink’s CCIP protocol as a cross-chain interoperability infrastructure.
- CCIP has facilitated more than $12 billion in transaction value, standing out for its high security.
- The integration strengthens the security and capacity of developers and users on the network.
Mode, an Ethereum Layer 2 chain that incentivizes users to contribute to the network’s growth through new economic mechanisms, today announced the integration of Chainlink’s cross-chain interoperability protocol (CCIP) as its canonical infrastructure.
This move marks a significant advance for the platform, providing it with advanced interoperability capabilities and an unprecedented level of security.
Mode 🟡 Integrates Another Big Name
Mode integrates the industry-standard @chainlink CCIP as Canonical Cross-Chain Infrastructure.
CCIP is secured by battle-tested Chainlink infrastructure that has enabled over $12 trillion in transaction value 👇https://t.co/WkBNDVxNwI pic.twitter.com/4agAxcwA0x
— Mode 🟡 (@modenetwork) June 19, 2024
Chainlink‘s CCIP protocol is recognized in the industry for its robust infrastructure, which has enabled transactions worth more than $12 billion, while maintaining high standards of security and reliability.
This integration will offer the Mode community access to programmable token transfers and arbitrary cross-chain messaging, which is crucial for a wide variety of decentralized finance (DeFi) and real-world assets (RWA) applications.
Mode senior contributor James Ross highlighted the importance of this integration stating:
“Choosing the only interoperability solution with Level 5 security as a canonical cross-chain infrastructure can accelerate Mode’s long-term growth and adoption. We are delighted to integrate Chainlink CCIP to enable Mode to operate securely across the entire multi-tier ecosystem. -chain and provide Mode developers the ability to take advantage of CCIP’s advanced features in a single, future-proof integration.”
For his part, JohannEid, Business Director of Chainlink Labs, expressed:
“We are excited that Mode has decided to natively integrate Chainlink CCIP as its canonical cross-chain infrastructure. With the support of CCIP’s in-depth security, Mode can offer a more seamless experience for developers and users in its ecosystem while helping to accelerate the adoption of its Layer 2 network. CCIP is the only interoperability protocol with level 5 cross-chain security.
Benefits and Security of CCIP in Mode
One of the key components of CCIP security is the Risk Management Network, a separate and independent network that continuously monitors and verifies cross-chain operations to detect erroneous activities.
This defense-in-depth approach is essential to maintaining an interoperable and secure ecosystem, especially considering that more than $2.8 billion has been exploited historically due to insecure and unreliable cross-chain infrastructures.
Mode is a modular DeFi Layer 2 platform with the goal of empowering developers and users to build a world-class application ecosystem and be rewarded for their contributions.
The CCIP integration not only improves security and interoperability, but also makes it easier for developers to deploy applications, leveraging Chainlink‘s robust infrastructure that has proven to be secure and reliable in handling large transaction volumes.
Chainlink, on the other hand, has established itself as the industry-standard decentralized computing platform, powering the verifiable web.
By providing real-world data, offchain computing, and secure cross-chain interoperability to financial institutions, startups, and developers, Chainlink enables verifiable applications and high-integrity marketplaces in sectors such as banking, DeFi, global commerce, and gaming, among others.
