Chainlink $23.1has added various memecoins to its services, making these cryptocurrencies accessible on different networks. This step increases the accessibility of memecoins, allowing them to reach a wider user base.
Chainlink Cross-Chain Token Standards
Recently, Shiba Inu (SHIB) and its ecosystem tokens Turbo (TURBO) and Apu (APU) became available on 12 blockchains by adopting Chainlink’s Cross-Chain Token (CCT) standard. In this way, tokens became accessible beyond the networks where they were first issued.
Many meme coins have joined Chainlink’s decentralized data streams. Tokens such as Simon’s Cat (CAT), Coq Inu (COQ), GOAT (GOAT), Hamster Kombat’s HMSTR and Mog coin (MOG) were on the list. This expansion could increase memecoins’ market share. In the long run, relevant altcoins are likely to see the benefits of this step, as accessibility on more networks means access to more liquidity and expanded availability.
Data Flows and Security
Chainlink’s data feeds deliver market data continuously off-chain using the oracle model. This data can be cryptographically verified on the network when needed. CCTs are cross-chain assets protected by Chainlink’s security.
Ethereum 
$3,336.4The lock-and-mint mechanism, which enables token transfers from , to other networks, and the burn-and-mint mechanism, which facilitates cross-chain transfers in all other networks, are implemented. These methods aim to increase token mobility.
Tokens offered on different networks provide increased visibility and distribution. This has the potential to increase investment and usage rates and helps users interact more.
With the development of blockchain technologies, the importance of cross-chain solutions is increasing. Chainlink’s addition of memecoins to its services supports the potential growth in this space and opens new opportunities for investors.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
