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.
Demian Crypter emerges as a true luminary in the cosmos of crypto analysis, research, and editorial prowess. With the precision of a watchmaker, Demian navigates the intricate mechanics of digital currencies, resonating harmoniously with curious minds across the spectrum. His innate ability to decode the most complex enigmas within the crypto tapestry seamlessly intertwines with his editorial artistry, transforming complexity into an eloquent symphony of understanding. Serving as both a guiding North Star for seasoned explorers and a radiant beacon for novices venturing into the crypto constellations, Demian’s insights forge a compass for informed decision-making amidst the ever-evolving landscapes of cryptocurrencies. With the craftsmanship of a wordsmith, they weave a narrative that enriches the vibrant tableau of the crypto universe.