coinculture.com
Base, a new Ethereum Layer 2 developed by Coinbase, has integrated Chainlink on its testnet to provide decentralised app developers with secure, off-chain price data.
Base intends to provide developers with a secure method for incorporating off-chain data sources into their decentralised applications, thereby positioning itself as a competitive Layer 2 solution within the Ethereum ecosystem.
🔵 @BuildOnBase by @Coinbase has integrated Chainlink Data Feeds on testnet and is joining the #ChainlinkSCALE program.#Base is covering the operating costs of #Chainlink services to empower devs, drive ecosystem growth, & support network sustainability.https://t.co/uTYm09uAiG pic.twitter.com/ggTt9DWpDF
— Chainlink (@chainlink) March 3, 2023
As a part of its participation in the Chainlink Scale program, Base will contribute to funding a portion of Chainlink’s network-related operational expenses. It will also assist in reducing the gas costs incurred by Chainlink nodes when submitting oracle reports on the Base network.
The Project Director at Base, Jesse Pollak, said in a statement, “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.”
The oracle network of Chainlink is intended to allow smart contracts and applications to use off-chain data in a secure and decentralised manner. According to Dunn Analytics, it is the most popular oracle network in the industry, with over 650,000 active users.