The Chainlink team announced that its cross-chain interconnection protocol (CCIP) has launched on the Base network blockchain. This allows developers to build cross-network applications and services on Base.

The CCIP interoperability protocol provides an interface for developers to create applications that can send messages, transfer digital assets, and initiate actions on blockchains.

The Chainlink team explains: The CCIP protocol uses Chainlink’s decentralized oracle networks, which monitor and audit cross-chain transactions for suspicious activity. According to Chainlink, the service has already supported on-chain transactions worth more than $8 trillion.

Previously, with the support of Chainlink, the interbank transfer system SWIFT conducted a series of experiments to transfer tokenized assets between several public and commercial blockchains through a single entry point.