How to Buy Perpy Fiji - Bitget.com Perpy PRY Resources. The live Perpy price today is $0.00 USD with a 24-hour trading volume of $137843.99 USD. We update our PRY to USD price in realtime. Perpy is -12.55% in the last 24 hours. Cardano PriceADA Price Chart HistoryKraken Cardano ADA Price History. Cardano price moved +0.37% over the last 24 hours. The price of Cardano is $0.39 per ADA and the circulating supply of Cardano is chainlink node count Chainlinks Cross Chain Interoperability Protocol Explained!
hey guys welcome to the max invest youtube channel in todays video im going to be discussing chain links cross chain interoperability protocol im going to be breaking down exactly what chain links ccip is how chain links ccip is secured and what are some practical use cases for chainlinks ccip that are going to be unlocked in the next year you may have noticed that at the beginning of this year sergey nazarov announced that ccip will be out this year now im very very bullish on ccip i think its going to be a whole new revenue stream for chain link and i think its going to result in the chain link ecosystem expanding substantially this year anyway if you enjoyed the video remember to like and subscribe to the channel follow me on twitter join the discord the links are below in the description and remember nothing in this video is financial advice chain link has been working on ccip for multiple years now and i do believe that its going to be one of chain links biggest services that they provide ccip is essentially providing cross-chain interoperability which is going to be absolutely massive in the future now if youre someone who sees a future where theres multiple different smart contract layer ones ccip will bring all of these layer ones together however even if youre someone like me who sees aetherium as the main layer one and multiple layer twos on top of ethereum well ccip will bring all of these layer twos together currently layer twos are actually quite distant from each other and ccip brings everything together all the layer ones all the layer twos all the smart contracts and in my opinion this is why ccip is going to be such a big service for chain link we need to understand what problems ccip is trying to solve right now blockchains are not well connected with each other all there is is token bridges between chains theres a token bridge that connects chain a to chain b however that is all the avalanche ecosystem is disconnected from the ethereum layer one ecosystem the ethereum layer one ecosystem is disconnected from arbitroms ecosystem and arbitrariums ecosystem is disconnected from optimisms ecosystem what ccip is trying to do is its trying to actually bind all of these ecosystems together and connect each other some of the more specific problems is that crypto currently relies on centralized and insecure bridges for example the bridge between ethereum layer 1 and polygon is currently controlled by a multi-sig admin key the funds in this bridge could be stolen and this bridge is quite centralized ccip fixes this ccip also fixes fragmented liquidity between chains and it fixes single chain state synchronization now these two terms are very confusing so lets break it down with the use of an example lets say that we have an application like are they are there is a lending and borrowing application that is deployed to multiple chains are they is on both the ethereum chain and the avalanche chain now the problem with this is that ave looks totally different on both of these chains and other is basically a separate entity on the ethereum chain there is 10 billion dollars locked in are they and individuals on the ethereum chain are simply just using arbeis ethereum version now on the avalanche chain there is one billion dollars locked in are they and people on avax are simply just using the avalanche version essentially what ccip is going to do is its going to make are they a single application and this application will be able to draw from both ethereum and avalanche essentially the liquidity will become one now are they will have 11 billion dollars locked in it instead of 10 billion dollars and 1 billion dollars and individuals will be able to use cross-chain smart contracts to actually draw from this liquidity now i realize this sounds quite confusing but what ccip is trying to do is its trying to facilitate the creation of smart contracts that interact with multiple different blockchains and this will be very useful going into the future as we can see this picture accurately represents what ccip is going to look like there will be an interface layer at the top which we will all interact with on this interface layer will be applications that actually use ccip and interact with smart contracts underneath ccip will be the chain link oracle network which gives consensus to ccip off chain we are going to now go through every single line item and were going to start at the bottom which is consensus and transport essentially chain link is optimized for cross chain infrastructure chain link is basically made up by a bunch of different oracle networks theres roughly 700 from when i last checked now these oracle networks are securing 75 billion dollars plus worth of value which is absolutely massive a few of these oracle networks can basically start running cross chain interoperability protocol chain link oracle nodes where theyre basically going to be securing ccip and facilitating cross-chain smart contracts chain link is already fully decentralized and this works very very well the next reason why chain link is optimized is because they have large ecosystem support across a range of different blockchains which makes this very very easy to do now the next reason for this is because chainlink are going to be using ocr which is off chain reporting standard 2.0 which allows chain link to easily come to consensus on ccip in a very fast and efficient way now the final reason why chain link is optimized is because of the anti-fraud network essentially chain link are going to have another committee of chain link oracle nodes and this committee could even extend to be decentralized applications that watch over ccip theyll report any malicious activity and the network can be shut down in case there is malicious activity in order to protect user funds so chain link is an anti-fraud network set up for ccip and it really does look like chain link is going to be the most secure network for consensus and transport which is the first line item the next line item is chain links cross chain interoperability protocol essentially ccip is just a messaging standard and on top of this messaging standard sits a bunch of different things the main thing that will be sitting on top of the messaging standard is chain links cross or his chain links programmable token bridge which allows cross chain smart contracts to actually work and occur so as we can see there are cross chain services which sit on top of the messaging standard and the most important one here is chainlinks programmable token bridge as this enables most of the functionality that ccip has right now chainlinks programmable token bridge contains a ton of key innovations and this allows it to actually support cross-chain smart contracts this is unlike any other token bridge that we have ever seen and in my opinion this is one of the biggest innovations that i have seen in the blockchain space for a while what the programmable token bridge does is it allows users to send tokens to the token bridge and it also allows them to send commands to the token bridge so developers can actually send commands to the token bridge and the token bridge will execute those commands this means that tokens can actually move around in a fully automated fashion and this basically allows cross-chain smart contracts to actually occur all one needs to do is send a set of instructions to the programmable token bridge it will then go out and execute those instructions which allows a bunch of different things to actually happen the final layer is the application and the interface layer essentially developers will build a bunch of applications that leverage ccip so a developer will make a smart contract and this smart contract will use the programmable token bridge to use a bunch of different blockchains and individuals will simply just use this application they wont need to worry about which blockchain they are using as ccip will take care of this for them and the developer will take care of this for them so the user interface layer is definitely going to be the most important layer as this is going to be the layer that all of the users actually interact with we are going to now break down a couple of different examples of how different protocols are actually using ccip in order to gain a greater understanding over it essentially celsius is a company that are planning to use ccip this year celsius is basically a company that allows you to earn interest on your cryptocurrency the way celsius do this is by going off yield farming your crypto and giving you back the interest for example on celsius you can earn something like five percent on your ethereum five percent on your bitcoin and what not essentially celsius plan to use chain links ccip so what celsius are going to do is theyll be the application on top of ccip they will then use the programmable token bridge to actually get yield from multiple different 8d5 applications so ccip will go off and fetch some yield from avalanche fetch some yield from ethereum fetch some yield from optimism fetch some yield from zk sync and bring all of this yield back to the main user which is going to be very very useful into the future this basically means that celsius will be using cross chain smart contracts to get yield from a multitude of different blockchains the next example i want to talk about is the ethereum name service example essentially if you want to register an ens name such as maxinvest.if you can only do this on the ethereum layer 1. the problem here is the ethereum layer 1 is quite expensive therefore the ans team are using ccip to make it so individuals can register an ens name on the ethereum layer 2 such as arbitrary or optimism or on totally different blockchains such as solana the way this works is that these different blockchains will be able to use the programmable token bridge to send data to the layer 1 and send this data back to the layer 2 allowing individuals to actually register an ens name on multiple different chains now and the last example that i want to discuss is how synthetics plan to use ccip essentially this goes back to these applications having a multi-chain state synchronization right now synthetics has two different states it has one state on the ethereum network and one state on the optimism network this means that for example synthetics might have a billion dollars worth of liquidity on optimism and a billion dollars worth of liquidity on ethereum however these cant interact with each other these are also random numbers by the way that ive made up for the purpose of this example now what synthetics are basically planning to do is synthetics are actually planning to make it so that these have a single state so this means that synthetics will have two billion dollars worth of liquidity and someone who is using synthetics will actually be able to choose if they want to use optimism or if they want to use aetherium for their fees basically what this is going to mean is that synthetics will be the application that sits on top of ccip therell be one single state and one single application because right now there are multiple different versions of synthetics one version on optimism one version on ethereum and we basically want to make this all the same using cross chain smart contracts resolving the issue of fragmented liquidity and resolving a bunch of other issues which is going to be very important and useful going into the future anyway that brings us to the end of the examples and that brings us toward the end of the video what ccip does is it actually enables cross-chain smart contracts which is going to solve the fragmentation between all of these different blockchain networks and the fragmentation between ethereum layer 2s this is going to make it so users have a very simple interface layer and it will actually make blockchain a lot easier for individuals to use of course every time the programmable token bridge is being used somebody needs to pay link to a chain link oracle node which adds more and more value to the chain link network over the long term which is going to be very helpful for chain link and i do think that this has a chance of becoming one of chain links biggest services because of how much it can actually do anyway if you enjoyed the video remember to like and subscribe to the channel and thanks for watching the video you Welcome to Max Invests!Join The Discord = Twitter = In today’s video we take a look at CCIP! This channel is also home to a myriad of cryptocurrency and stock content. I am a huge Defi Bull and strongly believe that the Defi space is going to take off over the coming decades with Ethereum being a leader in this space. Moreover, there will occasionally be stock market content and general investment content broadcasted on the channel! If you enjoy the content make sure to like and subscribe! DISCLAIMER = Nothing in this channel is financial advice and everything is made for entertainment purposes only. Max Invests is not liable for any financial loss or harm suffered.
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