Chainlink, the leading blockchain oracle, announced today that developers can now access its full suite of products on Base, an Ethereum layer-2-network managed by Coinbase.
The strategic decision marks an important milestone in Chainlink’s ongoing infrastructure expansion, which aims to provide advanced capabilities on the chain for the next generation decentralized applications.
Chainlink Products integrated into Base Network
Base has rapidly gained popularity among Ethereum layer-2 solution providers, and is gaining attention both from the blockchain community as well as developers.
Base’s robustness and scaleability has been proven by the fact that it can process more than 4 million transactions per day, which is double what its closest competitor Arbitrum does.
It is the ideal platform to integrate Chainlink’s cutting-edge technologies.
The integration of key products like Data Streams, and Verifiable random function (VRF) is crucial to enhancing security and efficiency in dApps.
Chainlink provides developers with the tools they need to build more advanced, user-friendly, and secure blockchain applications.
Chainlink’s Innovative Products
Chainlink Data Streams are a leading-edge solution to the Decentralized Finance (DeFi), delivering market data at high frequency and automatic executions with low latency.
DeFi on Base offers a similar experience to centralized exchanges, but also with added security and transparency on the chain.
Thodoris Karkostas is the Head of Blockchain Partnerships at Chainlink Labs. He pointed out that the data streams with low latency empower developers to create the next-generation DeFi solution. Some platforms, like Avalanche’s GMX, are already leveraging the technology.
Chainlink VRF is another standout product that has become the leader in random number generation (RNG) within the Web3 eco-system.
VRF, with more than 21,000,000 transactions requests across multiple blockchains completed, is an important component to ensure the fairness of applications on chain.
VRF’s latest version, 2.5, brings significant improvements. These include a better billing system, more accurate gas consumption forecasts based on the network condition, and an improved user experience when upgrading software.
VRF’s impressive latency from end to end is still only two seconds. This ensures reliable performance for different applications.
It is anticipated that the integration of Chainlink’s product suite in the Base network will accelerate adoption of Blockchain technology by developers.
Chainlink provides robust tools like the Cross-Chain Interoperability Protocol and Price Feeds that pave the way to the development of advanced on-chain applications.
Tom Vieira (Head of Products, Base) emphasized the fact that Chainlink’s infrastructure is available on Base and will spur further innovation within the DeFi sector.
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