Base integrates Chainlink for secure off-chain price feeds
Base, a new Ethereum Layer 2 developed by Coinbase, has integrated Chainlink on its testnet in a move to provide secure, off-chain price feeds to decentralized app developers.
This development is particularly significant for Base, as it aims to offer developers a secure method of integrating off-chain data sources into their decentralized applications, positioning itself as a competitive Layer 2 solution in the Ethereum ecosystem.
The Base team said it joined the Chainlink Scale program, which aims to offer oracle data to developers at a reduced price as part of the “Chainlink Scale” program. Under this program, Base will support some of the operational expenses of Chainlink services on its network and decrease the gas expenses of Chainlink nodes when submitting oracle reports on Base.
“We’re super excited to launch Base with collaborators such as Chainlink, and to join the Chainlink SCALE program to empower developers with the critical data and services they need to build their applications,” Jesse Pollak, the Project Lead at Base said in a statement.
Chainlink’s oracle network is designed to enable smart contracts and applications to utilize off-chain data in a secure and decentralized manner. It is the most widely used oracle network in the industry with over 650,000 active users, according to data from Dune Analytics.
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Author: Vishal Chawla