Base, an Ethereum L2 solution, has secured a partnership with Chainlink to integrate the latter’s price feeds into the Base testnet.
Chainlink price feeds go live on Base
Base, a new ethereum L2 solution developed by Coinbase, has integrated Chainlink to provide secure off-chain pricing sources for decentralized application developers in the crypto sector.
According to Base, this partnership furthers the company’s vision of becoming a superior L2 solution in the Ethereum blockchain ecosystem by providing developers with secure off-chain data sources from Chainlink to build decentralized applications effectively.
“We are very excited to join the Chainlink SCALE program to empower developers with the critical data and services they need to build their applications.”
Jesse Pollak, project leader at Base.
Jesse Pollak, the project lead at Base, expressed his satisfaction with the new development, noting how important it is for the company to partner with crypto giants like Chainlink.
Last week, Coinbase revealed that it will launch its own Ethereum L2 solution called Base, the announcement sparking a rally in Coinbase’s stock price, which jumped nearly 10% to $64.83 a share immediately after the news broke. .
Base was developed to scale transactions on the Ethereum (ETH) network, making it significantly faster. L2 networks like Base process transactions in batches instead of individual transaction processing on the Ethereum network.
These transactions will be processed on a separate network and then retransmitted to your mainnet in a relayed fashion, increasing the speed and reducing the costs of transactions on the Ethereum network.
Meanwhile, Chainlink’s LINK token experienced a positive February in terms of evolution and price action. The crypto-based oracle recently secured a partnership with Archblock, the issuer of the TUSD stablecoin, to use Chainlink’s proof of reserve to secure minting, improve transparency, and improve reliability.
