Hedera Embraces Cross-Chain Interoperability with Chainlink
Hedera has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) on its mainnet. This move allows developers to create apps that work across multiple blockchains. the integration was announced on April 8.
With CCIP, developers can transfer tokens, send messages, and initiate actions between Hedera and over 46 other blockchain networks. CCIP uses Chainlink’s oracle technology for secure communication. These oracles protect more than $20 trillion in on-chain value and support platforms like Aave and Lido DAO.
This development builds on a partnership that began last year. The HBAR Foundation joined Chainlink’s SCALE program, bringing price feeds and proof-of-reserve services to Hedera.Now, with CCIP live, developers can use full cross-chain features and tools like the Cross-chain Token standard. This standard lets projects issue tokens that move easily between chains while maintaining control of their contracts.
Despite recent progress in real-world assets and DeFi,Hedera’s total value locked has decreased. It fell from $213 million in January to $74 million by April 9.However, the volume of stablecoins on Hedera has more than doubled this year, reaching $82 million.
The HBAR token, which powers the Hedera network, is currently trading at about $0.1536, with a market cap of $6.4 billion. Analysts believe recent partnerships and cross-chain integration will boost HBAR’s price when market conditions improve.
