Coinbase’s Base leverages Chainlink technology to enhance developer capabilities News โธ Coinbase โธ Chainlink โธ Technology
Coinbase’s Base leverages Chainlink technology to enhance developer capabilities
Chainlink Automation offers Web3 developers a 90% reduction in gas fees while maintaining blockchain standards.
2 min read
Updated: Jan. 23, 2024 at 5:16 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Ethereum layer 2 network Base has successfully integrated Chainlink Automation to enhance the scalability of smart contracts, according to a Jan. 23 statement provided to CryptoSlate. This integration would allow Base developers access to decentralized, verifiable, and gas-efficient smart contract automation features.
Chainlink Automation is a secure and cost-efficient service tailored for Web3 developers, offering a 90% reduction in gas fees while maintaining blockchain standards. This integration enables Base developers to execute resource-intensive tasks on the Chainlink network, expanding the capabilities of smart contracts for more advanced use cases.
Furthermore, Chainlink Automation facilitates the connection of multiple decentralized applications (dApps) to a smart contract, acting as a potent messaging bus similar to the pub/sub messaging bus in Web2.
The integration aligns Chainlink Automation with existing Chainlink platforms like Cross-Chain Interoperability Protocol (CCIP) and Data Feeds on Base, collectively aiming to empower developers to construct sophisticated tools for highly scalable applications.
Jesse Pollak, Base Creator and Head of Protocols at Coinbase shared his enthusiasm for the possibilities developers can explore on Base with Chainlink Automation’s advanced computing capabilities. According to him, offloading compute-heavy tasks to the Chainlink Network significantly broadens the spectrum of use cases for Base developers.
Base is a layer 2 network developed by the cryptocurrency exchange Coinbase. Followingย its launch, the network enjoyed early adoption from the community, pushing its total value locked (TVL) to a peak of almost $450 million, according to DeFillama data.
The network is also one of the most lively layer2 networks, with more than 200 protocols already operating on it and an average of 3.59 transactions per second, according to L2beat data.
Johann Eid, Chief Business Officer at Chainlink Labs, also expressed satisfaction in bringing Chainlink Automation’s high-performance compute power to Base. Eid emphasized the collaboration’s potential to create next-generation Web3 experiences supporting the adoption of the verifiable web.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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