Ronin Network has decided to integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to improve the security of its Ethereum bridge.
The platform has experienced security breaches before, including a major hack in 2022 that resulted in significant financial losses.
Chainlink’s protocols are elected through a voting process, and security is a top concern for Ronin ecosystem developers.
Source: RoninRebuilding after past breaches
Ronin Network, developed by Sky Mavis, has repeatedly faced security issues in the past few years. In March 2022, the platform suffered one of the largest hacking attacks in decentralized finance, losing $622 million in assets. The attack was later blamed on the Lazarus Group, a hacker group with ties to North Korea.
In August 2024, ethical hackers took $12 million from the network to demonstrate vulnerabilities, exposing more vulnerabilities, but the funds were quickly returned. Additionally, earlier this year, $9.5 million worth of Ethereum was stolen from the wallets of Sky Mavis executives.
These events have prompted the network to look for more secure cross-chain infrastructure.
Source: ChainlinkWhy choose Chainlink’s CCIP?
After evaluating proposals from Chainlink, LayerZero, and Axelar, Ronin’s validators selected Chainlink’s CCIP as the new security protocol for their Ethereum bridge. Chainlink received 10 votes during the selection process, LayerZero received 3 votes, and Axelar received no votes.
The decision was primarily based on Chainlink’s multi-layered approach to security, which includes a decentralized oracle network and risk management capabilities.
“Security is the most important factor when deciding which cross-chain protocol can protect the future of the Ronin ecosystem,” said Phuc Thai, chief researcher at Sky Mavis.
Integration of Chainlink CCIP will begin with bridge transfers between Ethereum and the Ronin network. The entire transition is expected to take two to three months, and users do not need to take any action as all existing tokens on Ronin will be automatically upgraded to utilize CCIP for secure cross-chain transfers.
