Corn network adopts Chainlink’s Cross-Chain Interoperability Protocol to enhance Bitcoin-based DeFi capabilities and enable secure cross-chain transactions.
By Temitope Olatunji
Edited by Marco T. Lanz
Updated
3 mins read
Corn, a network focused on Bitcoin-based decentralized finance (BTCFi), has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable secure transfers of BTC $83 954 24h volatility: 1.1% Market cap: $1.67 T Vol. 24h: $26.57 B assets across blockchain networks. According to co-founder Spadaboom, this integration will allow developers to build secure Bitcoin-focused DeFi applications within the Corn ecosystem while facilitating cross-chain token transfers through their layer-2 solution.
Corn explained its choice of Chainlink’s CCIP, citing the protocol’s support for secure token transfers. Beyond token transfers, CCIP allows developers to send arbitrary data between different blockchains. This enables the creation of cross-chain applications that can support a wide range of use cases, such as cross-chain NFT transfers or lending.
The platform added that CCIP is designed to be flexible and scalable, with future updates aimed at expanding the range of supported blockchains and tokens. This makes it a long-term solution for developers looking to build cross-chain applications while maintaining control over their token contracts. With this integration, Corn is opening the door for next-generation decentralized finance (DeFi) solutions centered around Bitcoin.
Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs, shared his enthusiasm about Corn adopting their Chainlink Cross-Chain Interoperability Protocol. He added that they are eager to see how Corn developers will create innovative solutions with this technology. Karakostas said:
“We’re thrilled that Corn is adopting the Chainlink standard for cross-chain interoperability. Chainlink CCIP is critical for enabling secure cross-chain BTCFi, and we’re excited to see how Corn developers will leverage CCIP’s capabilities to realize novel cross-chain use cases.”
The adoption of Chainlink by Corn adds to the growing list of blockchain companies integrating the network. On February 2, Chainlink revealed that it had recently added 10 new integrations across 5 services and 6 different blockchains, including Arbitrum, Bitlayer Labs, Ethereum, Hedera, Scroll, and Solana. New integrations include Bitlayer, Droplinked, Dolomite, Scroll, TreehouseFi, and Usualmoney.
Chainlink also announced the launch of the Chainlink DeFi Yield Index (CDY Index), a new tool designed to gather and consolidate DeFi lending rates from various sources. This product leverages the Chainlink standard to provide a comprehensive view of the market.
The price of Chainlink’s native token, Guest Post $12.72 24h volatility: 3.7% Market cap: $8.11 B Vol. 24h: $352.66 M , has depreciated by more than 3% in the last 24 hours, according to data from CoinMarketCap. The trading volume has also dropped by over 35% within the same timeframe. The token is currently trading at $18.61 as of this writing.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
