tl;dr
The bridge connecting Ethereum to the Ronin Network will adopt Chainlink's Cross-Chain Interoperability Protocol (CCIP) for enhanced security. Chainlink's proposal won with 10 votes, followed by LayerZero with 3 votes, and Axelar with none. The decision prioritizes security following previous hacks,...
Validators for the bridge that connects Ethereum to the Ronin Network have voted to adopt Chainlink's Cross-Chain Interoperability Protocol (CCIP) as the network's canonical cross-chain infrastructure. This decision aims to improve the security of assets bridged to the Ronin ecosystem, Chainlink said in a press release.
After a three-phase selection process involving proposals from Chainlink CCIP, LayerZero, and Axelar, Chainlink won the backing with 10 votes, LayerZero obtained 3 votes, and Axelar received none.
Phuc Thai, Head Researcher at Ronin developer Sky Mavis, emphasized that "security was the number one most important factor when deciding which cross-chain protocol would secure the future of the Ronin ecosystem.” This decision follows multiple instances of the Ronin Bridge falling victim to hacks in the past. The August hack pales in comparison to one in March 2022, which resulted in the loss of $622 million from the network in an attack that the U.S. Treasury pinned on North Korea's infamous Lazarus hacking group.
The CCIP integration will begin with support for bridge transfers between Ethereum and the Ronin Network, with the full migration expected to occur over the next two to three months. Users are not required to take any action during this transition. All existing tokens on Ronin will be upgraded to utilize CCIP for native cross-chain transfers without requiring a user-triggered migration process.
Chainlink's CCIP was chosen because it employs multiple decentralized oracle networks, an independent risk management network, node operators, and additional security measures like rate limiting and time-locked upgrades.
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Banco De Chile, Banco de Chile, provides banking and financial products and services to clients in Chile. The company is headquartered in Santiago, Chile.
Industry: FINANCE, COMMERCIAL BANKS
NEC: 12207905000
Open: 8.08
Close: 8.08
Change: 2.99
Volume: 5702.8
Dividend: 0.485
Market Cap: 2880381125000
PE Ratio: 25.65
EPS: -0.027
ROI: -0.007
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General Dynamics Corporation Summary
General Dynamics Corporation (GD) is an American aerospace and defense corporation. It is headquartered in Reston, Fairfax County, Virginia.
Sector: Manufacturing
Industry: Ship & Boat Building & Repairing
Market Cap: $82.07 billion
P/E Ratio: 23.28
EPS: 5.48
Dividend (Yield): 12.83 (2.48%)
Stock Price: $164.48
Beta: 0.0789
Revenue: $44.95 billion
Operating Margin: 324.11
Return on Equity: 20.7%
Debt to Equity: 0.18