Chainlink is Integrated by Base for Safe Off-chain Price Feeds

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Last Updated on March 4, 2023 by Bitfinsider

Base, a new Ethereum Layer 2 created by Coinbase, has incorporated Chainlink on its testnet to provide decentralized app makers with safe, off-chain price data.

Base intends to provide developers with a safe method for integrating off-chain data sources into their decentralized apps, thereby presenting itself as a competitive Layer 2 option within the Ethereum environment.

The Base team announced that it has joined the Chainlink Scale initiative, which seeks to provide oracle data to coders at a discounted rate. Under this initiative, Base will subsidize a portion of the operational costs incurred by Chainlink services on its network and reduce the gas costs incurred by Chainlink nodes when sending oracle reports on Base.

The oracle network of Chainlink is intended to allow smart contracts and apps to employ off-chain data in a secure and decentralized way. According to Dunn Analytics, it is the most popular oracle network in the business, with over 650,000 active members.

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