Base, a new Ethereum Layer 2 built by Coinbase, has incorporated Chainlink on its testnet to enable decentralized app developers with safe, off-chain pricing feeds.
Base intends to provide developers with a safe means for connecting off-chain data sources to their decentralized apps, promoting itself as a competitive Layer 2 solution inside the Ethereum ecosystem.
The Base team announced that it had joined the Chainlink Scaling initiative, which seeks to provide oracle data to developers at a discounted rate. Through this initiative, Base will help cover the expenses of running Chainlink services on its network and reduce the additional gas costs by Chainlink nodes while providing oracle reports on Base.
The Project Head at Base, Jesse Pollak, stated, “We’re thrilled to launch Base with Chainlink and to join the Chainlink SCALE initiative to empower developers with the crucial data and services they need to create their apps.”
Chainlink’s oracle network aims to provide a safe and decentralized way for smart contracts and apps to access and use information not stored on the blockchain. According to Dune Analytics, it is the most famous oracle network in the business, with over 650,000 active users.
Also Read: Ripple Looks Set For A Favorable Result In The SEC Litigation
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
- Advertisement -
Comments are closed.