Thread by @chainlink

1/ In his recent Future of #Chainlink presentation, @SergeyNazarov explored how the Cross-Chain Interoperability Protocol (CCIP) will power cross-chain innovation & an entirely new category of smart contracts.

A thread on the significance of #CCIP 🧵
blog.chain.link/unlocking-cros…

2/ CCIP will use Chainlink's highly secure OCR consensus mechanism, which already helps secure over $75B, and apply it to the problem of cross-chain communication.

This is not only about moving tokens across blockchains, but the communication of contracts between blockchains.

3/ The goal of CCIP is to move the ecosystem forward into a world of cross-chain smart contracts, the third major evolution of how smart contracts are defined.

1. One to multiple contracts on a chain
2. Contracts connected to external resources
3. Cross-chain smart contracts

4/ Through the cross-chain smart contract composition framework enabled by CCIP, developers will be able to create decentralized applications that consist of multiple different contracts that run on multiple different blockchains, which interoperate with each other.

5/ CCIP will enable cross-chain applications to use each blockchain for what it's best suited for:

- Main chains for their security guarantees
- High-speed chains for their scalability guarantees
- Other chains as storefronts so users can deposit tokens from any environment

6/ With this design paradigm, smart contract devs can build decentralized applications in the same way that web developers are able to build high-quality web applications.

This will allow for millions of web developers to be onboarded and build apps in the way they are used to.

7/ CCIP will serve as a key protocol within the cross-chain smart contract infrastructure stack.

The protocol is supported by #Chainlink decentralized oracle networks and the Anti-Fraud Network, which will help validate that transactions going through are accurate and reliable.

8/ This infrastructure will help enable multiple key innovations such as Programmable Token Bridges, various cross-chain bridges, & cross-chain smart contracts.

All of these services can then be used via existing interfaces, wallets, and web systems that users are accustomed to.

9/ CCIP will ultimately fill out the 3 key categories of the #Chainlink Network's core functionalities:

1. Highly Validated Data
2. Off-Chain Computation
3. Cross-Chain Communication

All enabling the creation of more advanced smart contract applications.