Decentralized Oracle Project chain link link
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Chainlink said leveraging both technologies will open up new stablecoin use cases related to payments and DeFi. “We are excited to support the adoption of stablecoins across a variety of cross-chain use cases,” said Sergey Nazarov, co-founder of Chainlink. “We are pleased to see that CCIP’s defense-in-depth security infrastructure with multiple distributed layers is highly regarded by developers building with USDC.”
Both technologies, which use similar abbreviations, are designed to connect assets across networks. But there are differences.
Chainlink’s CCIP is a generalized cross-chain messaging framework that allows developers to transfer data and assets between chains using a smart contract-based mechanism powered by Chainlink oracles.
Meanwhile, USDC issuer Circle operates CCTP. This is a standardized bridge protocol that allows users to make native USDC transfers by burning and minting stablecoins between supported chains. CCTP is available on seven networks: Arbitrum, Avalanche, Base, Ethereum, Noble, OP Mainnet, and Polygon PoS.
Several interoperability-focused protocol and bridge projects, such as Celer Network, Li.Fi, and Wormhole, have already integrated Circle’s CCTP. Chainlink is the most recent launch.
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