An important move for the blockchain industry Chainlink Automation has been integrated into Coinbase’s Base L2 network. This strategic partnership aims to reduce transaction costs for developers by up to 90% and takes a significant step towards making blockchain development more accessible and cost-effective.
Opportunities Created by Base L2 for Chainlink
The collaboration between Chainlink and Coinbase is not just about reducing costs. It also aims to increase the scalability of smart contracts. Smart contracts are self-executing contracts where the terms of the agreement are written directly into code. With Chainlink Automation’s integration into the Base L2 network, developers have advanced tools to more efficiently build and manage decentralized applications (dApps).
One of the key features this integration brings is Chainlink’s Data Feeds. These feeds provide reliable and fraud-proof data for smart contracts, enabling them to interact with real-world information in a secure and reliable way. Additionally, the partnership promotes cross-chain functionality, which is the ability for different blockchain networks to communicate and share information. This is critical for the widespread adoption and functionality of dApps on various blockchain platforms.
Chainlink Automation’s integration into Coinbase’s Base L2 network is indicative of efforts to simplify blockchain technology for broader use and accelerate the development of the Web3 space. This partnership paves the way for the next generation of decentralized applications and services by providing developers with the tools to create dApps with lower transaction costs and advanced capabilities.