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- Chainlink is set to utilize its native CCIP technology for facilitating the cross-chain transfer of Codatta’s XNY token between BNB Chain and the Coinbase Layer-2 platform Base.
- The company is continuously enhancing its cross-chain infrastructure, recently launching CCIP v1.5 with additional safety features and broader integration support.
Leading oracle services provider Chainlink has taken another significant step in empowering AI layer Codatta through their latest collaboration. Once again, they will leverage their proprietary Cross-Chain Interoperability Protocol (CCIP) to transfer Codatta’s XNY tokens seamlessly between Coinbase Layer-2 platform Base and the BNB Chain.
Chainlink CCIP Integration for Smooth XNY Transfers
Codatta, a platform focused on AI, is transforming human knowledge into on-chain data assets. By adopting Chainlink’s Cross-Chain Interoperability Protocol (CCIP), they can securely transfer their XNY token across the Base and BNB Chain networks.
Chainlink emphasized that this integration highlights the increasing importance of decentralized infrastructure in supporting AI-driven platforms. The primary aim of this collaboration is to improve cross-chain reliability and data integrity as Codatta expands its on-chain asset ecosystem. Commenting on the partnership, Codatta stated:
“We’re thrilled to announce the adoption of Chainlink CCIP and the Cross-Chain Token (CCT) standard. Through Chainlink, XNY can now be seamlessly transferred across Base and BNB Chain, expanding its reach in the multi-chain ecosystem.”
This partnership comes at a time when the XNY token is gaining traction in the market with a 36% increase in the past week. Currently, it is trading at $0.005090, with a market cap of $12.73 million.
Codatta operates as a permissionless marketplace that collects and tokenizes valuable data resources on-chain for utilization in AI and decentralized science (DeSci) applications. The platform aims to provide a transparent, community-driven system for AI developers to access reliable datasets.
Meanwhile, Chainlink, a prominent oracle services provider, continues to lead the tokenization movement. Recently, the platform facilitated over $27 trillion in transaction value, as highlighted in our previous coverage.
Enabling Cross-Bridge Transfers
With the increasing demand for blockchain technologies, the need for cross-bridge transfers is also on the rise. However, only a few trusted platforms currently exist in the market that can facilitate such transfers seamlessly without compromising on technology. Chainlink’s blockchain technology is gaining prominence in this domain.
As reported by CNF, Chainlink’s CCIP played a crucial role in establishing a Solana-Base bridge for secure cross-chain messaging. This integration enables users to trade Solana’s SOL and other Solana-based assets directly on Base.
Furthermore, Chainlink recently introduced version 1.5 of its CCIP protocol, incorporating enhanced safety features for cross-chain transactions. The multilayered security architecture of CCIP is designed to prevent vulnerabilities that led to over $2 billion in bridge-related exploits in 2022.