Gnosis Integrates Chainlink

According to spokespeople, Gnosis developers can now reduce gas fees by up to 90% by outsourcing their heavy computation to the Oracle network.

The Gnosis network is now operational with Chainlink’s CCIP interoperability protocol and Automation services, the two organizations declared on June 12.

Gnosis users can now utilize Chainlink for cloud computing functions and offload heavy computing duties to the Chainlink network, reducing gas fees by up to 90%. More importantly, Chainlink’s CCIP protocol will enable Gnosis users to exchange value, interact, and send messages across blockchains.

Philippe Schommers, the director of infrastructure at Gnosis, expressed his enthusiasm for the deployment of Chainlink’s CCIP protocol and Automation services on Gnosis:

“Empowering Gnosis devs with cross-chain connectivity and verifiable compute enables them to develop powerful applications that solve real-world use cases. Ultimately, by providing mission-critical infrastructure, Gnosis and Chainlink are set to scale the Web3 ecosystem to mass adoption.”

Chainlink’s CCIP protocol is rapidly becoming the industry standard for cross-chain communication and interoperability. Blockchain companies, institutions like the Depository Trust and Clearing Corporation, and even the SWIFT messaging system acknowledge Chainlink’s potential to revolutionize the financial system.

Chainlink and Rapid Addition formed a partnership in May to create a blockchain adaptor designed for institutions interested in engaging with tokenized assets, the renewable energy sector, and carbon markets.

The companies aspire to leverage the power of Chainlink’s CCIP protocol and real-world price data through collaboration to offer banks a standardized method of interacting with tokenized assets across blockchains.

Later that month, Arta Techfin, a Hong Kong-based asset management firm, signed a contract with Chainlink to tokenize illiquid real estate and collectibles.

At the end of May, Celo, an Ethereum layer-2 network, also announced an integration with Chainlink. This integration will provide users of the network with cross-chain messaging and interoperability.

Lastly, Chainlink’s pilot program with the Depository Trust and Clearing Corporation and banking giants such as JP Morgan, BNY Mellon, U.S. Bank, and Edward Jones, which was highly publicized, has further solidified its status as an industry leader in the domain of interoperability and real-world asset tokenization.