Chainlink Prices Skyrocketed Immediately After Launching The Most Popular Upgrade

Chainlink can upgrade, the price of the LINK token immediately goes up. (Photo; Doc. Coindoo)

JAKARTA - Chainlink, the world's leading decentralized Oracle protocol, announced a massive increase in their Cross-Chain Interoperability Protocol (CCIP), which is now officially active on the main network aka mainnet. This version 1.5 CCIP update is expected to be a step forward in facilitating more secure and efficient cross-chain communications, enabling smoother inter-protocol integration in the Web3 ecosystem.

With the CCIP upgrade, Chainlink introduced four major updates aimed at strengthening the reliability and flexibility of protocols for developers and final users.

This latest upgrade presents the Custom Cross-chain Token (CCT) Chainlink standard specifically designed for CCIP. This CCT standard gives CCIP the ability to enable more self-contained original cross-link token transfers, with the full token management option for developers. This new feature not only offers full control and ownership for developers over their token deployment, but also supports high flexibility in programming, as well as ensuring price-free transfers (zero-slippage), which are often an obstacle to cross-chain transactions.

In addition, Chainlink underlines that this new interface is designed to be more friendly to developers. With this simplification, developers can easily adapt to the latest changes without experiencing complex technical barriers. This will allow Chainlink protocol to continue to develop and adapt, strengthen its position as one of the most active protocols in the global blockchain industry.

Interestingly, this 1.5 version of the CCIP upgrade is also equipped with the launch of the Developer Attendation Token feature, a trial feature in the closed beta phase. Through this feature, developers can re-verify their token development, including ensuring the validity of the burn event token before it is printed (minted). This process is believed to further strengthen user confidence and reduce the risk of technical errors in token recording and managing.

This update not only marks Chainlink's move forward in providing a stronger infrastructure for Web3 developers, but also proves the relevance of this Oracle protocol in supporting efficient cross-chain integration.

This afternoon, the LINK token was in the range of 10 US dollars (Rp155,000) per token. The latest data from CoinGecko shows that in the last 24 hours the price of LINK has increased by 6.4%. At the time of writing, LINK is trading at the level of Rp192,501.