The bridge uses Chainlink’s CCIP technology, used by SWIFT, to move a large amount of tokens and critical messages securely across blockchains.
Bridges play a key role in connecting individual blockchains, but are often the target of exploits.
Initially, Transporter is available for Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Optimism, Polygon and WEMIX.
Data provider Chainlink (LINK) on Thursday unveiled its blockchain bridge application called ‘Transporter’, which allows users to move crypto assets and data across multiple networks.
Chainlink’s bridge is available to both individual users and institutions and aims to “enable a cost-efficient way to make high-quality token transfers across blockchains with confidence,” a Chainlink spokesperson explained in an interview on Telegram.
The first available blockchains for Transporter are Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Optimism, Polygon and WEMIX, according to the press release.
The release marks the entrance of the crypto world’s premier software platform that connects blockchain rails to external data – or oracle services – into the fast-growing sector of blockchain bridges. As the digital asset economy mushrooms, bridges play a crucial role in connecting the ever-increasing number of individual blockchain rails, enabling the transfer of value and data between them. Existing bridges have transferred about $12 billion in assets between chains in the past month. Show DefiLlama data. However, bridges are often the target of exploits and hacks, which puts users at risk of losses.
Read more: What are Blockchain Bridges and How Do They Work?
“Having a secure way to move both value and data between chains is something the blockchain industry has needed for years,” said Sergey Nazarov, co-founder of Chainlink, in a statement. “Transporter makes it easier to leverage the security benefits of Chainlink’s CCIP to transfer large token value and critical messages between chains.”
The Transporter is built on top of Chainlink’s Cross-Chain Interoperability Protocol (CCIP), a piece of technology that has been an important part of this Chainlink’s partnership with SWIFT, a closed network used by banks for international money transfers.
The platform also offers global support and a real-time visual tracker to monitor the status of inter-chain transfers. It charges regular fees for using CCIP, which cover the costs of executing the transaction on the destination blockchain and the fees paid to CCIP service providers.
“I expect Transporter to quickly establish itself as the standard for cross-chain enablement for high-value use cases,” said Nomatic, an investor at venture capital firm Fourth Revolution Capital, one of the bridge’s early adopters.