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Chainlink tools now power millions of transactions on Base network Chainlink tools now power millions of transactions on Base network

Chainlink tools now power millions of transactions on Base network

Coinbase Base network sees boost with complete Chainlink deployment.

Chainlink tools now power millions of transactions on Base network

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

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Blockchain Oracle network Chainlink revealed that its entire product suite is now available to developers on the Coinbase-incubated Ethereum layer-2 network Base, according to an Aug. 15 statement shared with CryptoSlate.

This followed the firm integration of its Data Streams and Verifiable Random Function (VRF) products on the layer-2 network.

Tom Vieira, Base’s Head of Product, expressed enthusiasm about Chainlink’s entire infrastructure solutions—including the Cross-Chain Interoperability Protocol (CCIP) and Price Feeds—being available on the platform.

He noted that this arms developers with the necessary tools to build the next generation of on-chain applications.

Over the past year, Base has rapidly gained traction in the industry, becoming a popular choice for Ethereum layer-2 transactions. According to Growthepie data, Base was responsible for more than 4 million transactions during the past day, while its closest rival, Arbitrum, only processed 1.8 million transactions during the same period.

Data streams

Data Streams offers a cutting-edge solution for the DeFi market, delivering low-latency market data and automated execution. This innovation paves the way for a new era of fast and user-friendly DeFi products.

Chainlink Data Streams leverages robust, decentralized infrastructure to provide high-frequency market data. This capability allows high-throughput DeFi products to offer a smooth user experience akin to centralized exchanges (CEXs) while ensuring unmatched on-chain execution speed and proven security.

Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs, noted that Chainlink Data Streams’ low-latency data will empower developers to create the next generation of DeFi solutions on the Ethereum-based network.

Notably, several DeFi protocols, such as Avalanche-based GMX, are using the solution to power their platform’s infrastructure.

VRF

Chainlink VRF is a leading Web3 random number generator (RNG) with over 21 million transaction requests completed across various blockchains.

The recent VRF v2.5 upgrade introduces significant improvements for developers. It offers low-friction billing, better gas consumption predictions based on network conditions, and an enhanced user experience for smooth upgrades.

Despite these upgrades, Chainlink VRF maintains an end-to-end latency of about two seconds across different use cases. Karakostas commented:

“VRF will now enable smart contracts on Base to access random number generation securely.”

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