Shiba Inu (CRYPTO: SHIB) has partnered with decentralized oracle network Chainlink (CRYPTO: LINK) on Thursday in a bid to expand its ecosystem.
What happened
The partnership would enable the integration of the Chainlink standard for Blockchain interoperability as the primary chain-sharing infrastructure for Shibariumlayer 2 of the Shiba Inu blockchain.
Additionally, the Cross-Chain Token standard would make Shiba Inu ecosystem tokens, such as SHIB, Doge Killer (LEASH) and Bone Shiba Swap (CRYPTO: BONE) were available on 12 different blockchains.
The mysterious leader of Shiba Inu, Shytoshi Kusama, He called the development “huge news” for the ecosystem.
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“Expect much more from this partnership,” Kusama said, in her typical Shiba Inu language.
This is HUGE news for the #SHIBARMY and $SHIB, $BONEAND $LEASH. Expect much more from this partnershib! https://t.co/99nRkzdA01
— Shytoshi Kusama™ (@ShytoshiKusama) December 19, 2024
For the curious, Chainlink acts as a bridge between the blockchain and the outside world, allowing smart contracts to access data and events from off-chain sources. Based on Ethereum (CRYPTO: ETH), the platform’s Cross-Chain Interoperability Protocol allows developers to create applications that can send tokens and messages across the blockchain.
Why is it important
The inclusion of the Chainlink standard could increase the accessibility of Shiba Inu assets, which could lead to an increase in demand. The integration could also unlock more industry-specific use cases for Shibarium, a growing Layer 2 solution.
Earlier this week, Shiba Inu announced the airdrop of its newly launched meme coin Shifu (SHIFU) for the faithful members of your community. A significant portion of the offer has been reserved for SHIB, BONE and LEASH holders.
Price movement
The associated tokens did not respond positively. In the last 24 hours, SHIB was down 8.36%, while LINK was down 6.40%, according to data from Benzinga Pro.
Photo courtesy of Shutterstock
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