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DLC.Link Integrates Chainlink Proof of Reserve (PoR) and CCIP

Twitter icon  •  Published 6 महीने पहले on June 19, 2024  •  Hassan Maishera

Chainlink announced via X on Tuesday that DLC.Link has integrated Chainlink's Proof of Reserve and Cross-Chain Interoperability Protocol on Arbitrum and Ethereum.

DLC.Link Integrates Chainlink Proof of Reserve (PoR) and CCIP

Chainlink announced via X on Tuesday that DLC.Link has integrated Chainlink's Proof of Reserve and Cross-Chain Interoperability Protocol on Arbitrum and Ethereum. The integration will help enhance dlcBTC's transparency and enable secure cross-chain transfers, ensuring fully backed and verifiable Bitcoin collateralization.

DLC.Link harnesses the power of Discreet Log Contracts (DLCs) to establish a trustless bridge between Bitcoin and Ethereum. The integration provides an additional layer of verification and security to help ensure that the outstanding supply of dlcBTC cannot exceed the amount of collateral backing it.

Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is up by 4% over the past 24 hours and is trading at $14.313 at press time.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.