Chainlink Implements Price Feeds into Coinbase’s Ethereum Layer-2 Solution, Base
Chainlink, the decentralized oracle network, has announced the integration of price feeds into Coinbase’s Ethereum layer-2 solution, Base. This integration aims to streamline the integration of DeFi protocols and externally connected applications. Base enables the link between smart contracts and tangible data points, such as asset prices, using Chainlink’s oracle. The price data feed reflects a volume-weighted average across selected exchanges, ensuring a fair market price. Base, which recently launched its mainnet, has already gained significant liquidity and is focused on attracting developers to build applications on its platform.
Key Points:
- Chainlink has implemented price feeds into Coinbase’s layer-2 solution, Base.
- The integration enables the seamless integration of DeFi protocols and externally connected applications.
- Chainlink’s oracle ensures the delivery of reliable data by collating information from multiple sources.
- The price data feed reflects a volume-weighted average across selected exchanges, including both decentralized and centralized exchanges.
- Base aims to attract developers to build applications on its platform and recently launched the “Onchain Summer” initiative in partnership with Coca-Cola, Opensea, and Atari.
Hot Take:
The integration of Chainlink’s price feeds into Base’s layer-2 blockchain is a significant step towards enhancing the functionality and usability of the platform. By providing developers with reliable and accurate data, Base empowers them to explore novel use cases and drive innovation in the DeFi space. This collaboration between Chainlink and Base further solidifies their commitment to advancing the industry and preparing it for mass adoption.
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