Ronin Network Adopts Chainlink's CCIP to Enhance Cross-Chain Security Following Previous Hacks

Validators for the bridge connecting Ethereum and the Ronin Network have made an important decision. They voted to adopt Chainlink's Cross-Chain Interoperability Protocol, or CCIP, as the main cross-chain infrastructure.

This choice aims to enhance the security of assets being transferred to the Ronin ecosystem. According to a press release from Chainlink, the selection process involved three phases. Chainlink CCIP received 10 votes, while LayerZero got 3 votes, and Axelar received none.

Phuc Thai, the Head Researcher at Sky Mavis, the developer behind Ronin, stated that “security was the number one most important factor” in their decision-making process.

The move to strengthen the security of the Ronin Bridge comes after several past hacks. In August, for example, the bridge lost around $12 million in assets. Fortunately, ethical hackers stepped in and returned the funds before any real damage was done.

This incident was minor compared to a significant breach in March 2022. That attack resulted in a staggering loss of $622 million. The U.S. Treasury linked that incident to North Korea's notorious Lazarus hacking group. After that breach, the bridge was down for months but was eventually restored with better decentralization measures. Sky Mavis also refunded affected users.

In February, another incident occurred where $9.5 million worth of ETH was taken from wallets associated with Sky Mavis and co-founder Jeff Zirlin.

The integration of CCIP will start with support for bridge transfers between Ethereum and the Ronin Network. The full migration is expected to happen in the next two to three months. Users won’t need to take any action during this transition. All existing tokens on Ronin will automatically be upgraded to use CCIP for cross-chain transfers.

Chainlink's CCIP was chosen because it uses multiple decentralized oracle networks, an independent risk management network, and node operators. It also includes extra security features like rate limiting and time-locked upgrades.