Blockchain data provider Chainlink’s price feeds are developed by crypto exchange Coinbase. Ethereum layer 2 blockchain base It became available on testnet.
This development will allow developers to access external data, enabling smart contracts that form the basis of decentralized finance (DeFi) to be executed based on external information.
Coinbase Base Team to Join Chainlink Scale Program
The Base team said it’s joining the Chainlink Scale program, which aims to provide oracle data to developers at a discounted price as part of the “Chainlink Scale” program. Under this program, Base will support some of the operational costs of Chainlink services in its network and reduce gas fee expenses of Chainlink nodes while sending oracle reports on Base.
Base launched in February and aims to be a low-cost, secure platform for developers to build decentralized apps (dapps), but initially faced user criticism on Twitter. Chainlink is a provider that connects blockchains to external data sources, called oracle.
“We are thrilled to launch Base with partners like Chainlink and join the Chainlink SCALE program to empower developers with the critical data and services they need to build their applications,” Base Project Leader Jesse Pollak said in a statement.
Chainlink’s oracle network is designed to enable smart contracts and applications to use off-chain data securely and decentralized. According to data from Dune Analytics, Chainlink is the most widely used oracle network in the industry with over 650,000 active users.
*Not investment advice.
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