Chainlink

The multi-chain liquid staking protocol StaFi has integrated Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Automation services to enable secure cross-chain liquid staking capabilities. By utilizing these industry-standard Chainlink services, StaFi has introduced advanced features that facilitate the development of decentralized applications (dApps) and drive the adoption of Web3 technologies.

The Chainlink community has highlighted the importance of Proof of Reserve for stablecoins. Chainlink, a decentralized oracle network, enables the connection of real-world data and systems to blockchains, facilitating the development of advanced decentralized applications (dApps) that drive Web3 adoption. The community suggests that Chainlink's Proof of Reserve could provide transparency and accountability for stablecoin reserves, ensuring their backing and stability.

Major banks like Citigroup are adopting blockchain technology, which connects data and systems to blockchains. This allows developers to create advanced decentralized applications (dApps) that could drive wider adoption of Web3 technologies.

According to recent reports, bridge hacks have accounted for nearly 40% of the total value hacked in the Web3 ecosystem. Cross-chain vulnerabilities have been identified as a major security concern, with seven specific vulnerabilities highlighted as potential risks for users of cross-chain protocols. To better protect themselves, users are advised to understand and mitigate these vulnerabilities.

The article discusses the importance of rate limiting as a security measure in Web3, particularly for cross-chain bridges. Rate limiting caps the amount of value that can be transferred between chains within a given time span, acting as a last line of defense against hacks or exploits. Even if other security measures fail, rate limits can limit the amount of value that can be extracted. The article encourages users to inquire about rate limiting when using cross-chain bridges and holding wrapped assets in Web3 wallets.

BadgerDAO, a decentralized autonomous organization, has integrated Chainlink Price Feeds on the Ethereum blockchain to support the adoption of eBTC, a tokenized version of Bitcoin. Additionally, eBTC has been made CCIP-compatible, enabling a future integration to bring eBTC cross-chain in a secure manner.

OpenZeppelin, a leading provider of security services for blockchain applications, has formed a strategic alliance with Chainlink Labs. This partnership aims to provide Chainlink's BUILD members with access to OpenZeppelin's services, enhancing the security of their decentralized applications (dApps) built on the Chainlink network. The collaboration underscores the commitment of both organizations to foster the growth and adoption of Web3 technologies.

Stéphanie Lheureux, Head of Euroclear's Digital Assets Competence Center, believes the adoption of tokenized assets is entering a new phase. In a recent podcast episode featuring representatives from Swift, Chainlink, and Euroclear, Lheureux shared her perspective on the evolving landscape of digital assets and their integration with traditional financial systems.

Sergey Nazarov, the co-founder of Chainlink, and Stani Kulechov, the founder of Aave, engaged in a discussion about the future of the internet. Nazarov emphasized that there is only one internet, and the concept of separate internets for different industries is flawed. He argued that a global Internet of Contracts, facilitated by Chainlink's decentralized oracle network, is inevitable. This would enable the development of advanced decentralized applications (dApps) that drive the adoption of Web3 technologies.

The Ethereum network recently underwent the Dencun upgrade, which introduced a feature called Proto-Danksharding. As a result, the gas costs for publishing Chainlink oracle reports on Layer 2 rollups such as Arbitrum, Base, and Optimism have decreased by up to 99%. This significant reduction in costs is expected to drive further adoption of decentralized applications (dApps) built on Ethereum and its Layer 2 scaling solutions.