Chainlink Integration with Coinbase’s Base Layer 2 Network: Boosting DeFi Applications
Chainlink’s price feeds have recently been integrated with Coinbase’s Base Layer 2 network, offering developers access to reliable and industry-standard Chainlink data feeds. This integration aims to support decentralized finance (DeFi) applications and enable the Coinbase-incubated Layer 2 network to connect with external DeFi apps such as lending protocols and futures markets. By incorporating Chainlink’s price feeds, Base developers can easily migrate existing applications to Base and leverage the security, reliability, and usability provided by Chainlink Price Feeds.
Key Points:
1. Chainlink’s price feeds are considered one of the leading solutions for developers, ensuring the accuracy and integrity of price data.
2. The integration allows Base developers to create innovative use cases and enables existing DeFi protocols to seamlessly onboard onto Base’s layer-2 blockchain.
3. Chainlink’s oracle infrastructure sources price feeds from various decentralized and centralized exchanges, providing volume-weighted data.
4. Base’s mainnet was launched for developers on July 13 and is set to be available to the public on Wednesday, August 9.
5. The Ethereum-based layer-2 network was created by Coinbase using OP Stack, an open-source framework developed by the Optimism team.
Hot Take:
The integration of Chainlink’s price feeds with Coinbase’s Base Layer 2 network is a significant step towards strengthening DeFi applications. This collaboration will enhance the reliability and security of price data, supporting the growth and adoption of DeFi protocols. With Chainlink’s trusted oracle infrastructure, developers can build next-generation use cases on Base, leveraging the benefits of a layer-2 blockchain. This integration showcases the commitment of both Chainlink and Coinbase to advance the decentralized finance ecosystem and provide robust solutions for crypto enthusiasts.
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