Ronin And IDA Finance Team Up With Chainlink, This Is The Goal!
JAKARTA - Ronin, a dedicated blockchain designed to support Web3 games, with IDA Finance announcing its new partnership with Chainlink, a leading blockchain oracle provider, to improve the security and functionality of their platforms.
Ronin himself has adopted Chainlink's Cross-Chain Interoperability Protocol (CCIP) to strengthen its cross-grid bridges. On the other hand, IDA Finance, a Hong Kong-based digital asset publisher, uses Proof-of-Reserves (PoR) and CCIP technology to increase transparency and cross-chain accessibility on the stablecoins they developed, HKDA, which is backed by Hong Kong dollars.
.@Ronin_Network—a leading Web3 gaming ecosystem—is adopting #Chainlink CCIP as its canonical cross-chain infrastructure to secure the Ronin bridge.
CCIP was selected by the Ronin validator community after a competitive bridge selection process.https://t.co/brdI1Rzllm pic.twitter.com/JbjaqrFo4v
— Chainlink (@chainlink) October 10, 2024
@Ronin_Network a leading Web3 gaming ecosystemis advertising #Chainlink CCIP as its canonical cross-chain infrastructure to secure the Ronin bridge.
CCIP was selected by the Ronin validator community after a competitive bridge selection process.https://t.co/brdI1Rzllm pic.twitter.com/JbjaqrFo4v
The move was announced on October 10, 2024 and is part of Ronin's efforts to improve platform security, particularly after major hacking incidents that occurred in the previous year.
Launching CoinPaper, by integrating CCIP, Ronin now has a safer infrastructure in supporting cross blockchain transactions. CCIP is a decentralized protocol that allows communication between blockchains through a decentralized oracle network (DONs), ensuring transactions remain safe and reliable without the risk of failure from one point.
In addition to strengthening security, this integration is also expected to improve the user experience as a whole. For Ronin, who is widely known as the platform behind the success of the game Axie Infinity, this collaboration with Chainlink is an important step to support ecosystem growth in the future.
IDA Finance also plans to increase investor confidence in HKDA stablecoins through the PoR Chainlink technology, which ensures that reserves supporting stablecoins can be audited transparently. This collaboration demonstrates the company's commitment to creating a more secure and trustworthy blockchain ecosystem.