ChainLink Token (LINKUSD)

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Introducing the Cross-Chain Interoperability Protocol (CCIP) for Decentralized Inter-Chain Messaging and Token Movements

(Poster: This is similar to what Polkadot does. Chainlink is providing a protocol that will standardize the way smart contracts can communicate to each other).

"...The growth of numerous independent blockchain ecosystems with varying optimizations and geographical niches has resulted in an increasingly multi-chain world. Being able to seamlessly tap into the advantages of each of these blockchains and their unique assets within a single application would drive a massive wave of new cross-chain smart contract development—no different than the proliferation of DeFi, NFT, and on-chain gaming economies when decentralized oracle services for real-world data and secure off-chain computation were introduced.

However, building cross-chain applications is notoriously difficult given the problems with existing cross-chain infrastructure. For one, there is extensive fragmentation in token bridges and messaging protocols, most being application-specific services between two distinct chains. Additionally, many bridges are fairly centralized with weak security guarantees, lack transparent or reliable node operators, and drive up costs and processing times for end-users. These limitations and vulnerabilities have already resulted in exploitation to the tune of tens of millions of dollars in funds lost, stunting cross-chain innovation.

In order to accommodate the growing ecosystem demand for inter-chain solutions, we’re excited to announce the upcoming launch of the Cross-Chain Interoperability Protocol (CCIP)—a new open-source standard for cross-chain communication. CCIP aims to establish a universal connection between hundreds of blockchain networks, both private and public, unlocking isolated tokens and empowering cross-chain applications for all on-chain ecosystems..."



https://blog.chain.link/introducing-the-cross-chain-interoperability-protocol-ccip/