Chainlink updates its crypto bridge tech months after a $292 million hack at a rival exposed risks
The new software lets companies add custom security checks so they do not fall victim to the same single-point-of-failure vulnerabilities that plagued rival bridges.
Make preferred on
Share this article
Summary
- Chainlink released CCIP 2.0, which lets companies add their own security checks to transfers between blockchains on top of Chainlink’s default 16-operator verifier network.
- The launch follows April’s $292 million Kelp DAO hack, which was blamed on a LayerZero bridge setup that relied on a single verifier. Kelp later moved its rsETH token to Chainlink.
- Chainlink’s Risk Management Network no longer works as a separate safeguard, so users who don’t add their own verifiers appear to rely on one verification network instead of two.
