Ronin Gaming Network Strengthens Ethereum Bridge Security with Chainlink Protocol Adoption

ChainPlay

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2 months ago

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Validators Choose Chainlink's CCIP for Ronin Network

On the bridge connecting Ethereum to the Ronin Network, the validators have taken a significant choice. Selected as the network's official cross-chain architecture was Chainlink's Cross-Chain Interoperability Protocol (CCIP). Enhancing security for assets moved to the Ronin ecosystem is the goal of this decision.

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The selection process took place in three phases. Validators reviewed proposals from three contenders: Chainlink CCIP, LayerZero, and Axelar. Chainlink received strong support, winning with ten votes. LayerZero followed with three votes, while Axelar did not receive any. This outcome highlights the confidence validators have in Chainlink's capabilities.

Phuc Thai, Head Researcher at Sky Mavis, the developer behind Ronin, emphasized that security played a crucial role in the decision-making process. He stated that security was the number one factor when deciding which cross-chain protocol would secure the future of the Ronin ecosystem. This priority highlights the commitment to protecting the network and its users.

The decision to enhance the Ronin Bridge's security features responds to its history of hacks. The bridge has suffered multiple security breaches, causing significant financial losses. In August, the Ronin Bridge lost about $12 million worth of assets. Ethical hackers returned the stolen assets to the bridge operators, acting to thwart malicious actors. The hack that occurred in March 2022, which cost $622 million and was connected to North Korea's Lazarus hacking group, was more significant than this one.

After the March incident, the bridge was offline for months but resumed operations with improved decentralization measures. Sky Mavis refunded affected users, which helped restore trust in the platform. In February, hackers took $9.5 million worth of ETH from various wallets, including those of Sky Mavis and Ronin Network co-founder Jeff Zirlin.

Future of the Ronin Bridge

The integration of Chainlink's CCIP will initially support bridge transfers between Ethereum and the Ronin Network. The full migration is expected to take place over the next two to three months. During this transition, users will not need to take any action. Tokens that are already on Ronin will automatically update to use CCIP for native cross-chain transfers. This upgrade simplifies the process for users.

Source: X

Chainlink's CCIP was chosen for its advanced security features. It uses multiple decentralized oracle networks and an independent risk management network. This design allows for enhanced security measures, including rate limiting and time-locked upgrades. By adopting CCIP, the Ronin Network aims to strengthen its defenses against potential threats while providing users with a reliable cross-chain experience.

In conclusion, adopting Chainlink's CCIP represents a critical move for the Ronin Network. This upgrade enhances security and aims to restore user confidence after previous breaches. As the integration progresses, users can look forward to a more secure and streamlined experience within the Ronin ecosystem.