In the dynamically changing world of cryptocurrencies, a combination of technology and vision can bring about a real revolution. Base, the new layer-2 platform created by Coinbase, is entering into a strategic partnership with Chainlink to simplify and optimize the integration of popular DeFi applications.
As Base, Coinbase’s latest technological answer to the Ethereum layer-2 market needs, gears up to launch its mainnet, the innovative partnership with Chainlink begins to take shape. Chainlink, a leading decentralized network oracle, announced this week the introduction of data channels related to price information on-chain.
This integration is key to simplifying and optimizing the deployment of DeFi protocols, including externally connected applications such as lending protocols, collateral protocols, and derivative markets. Through this collaboration, developers will gain the tools necessary to port existing applications to the Base platform, further allowing them to experiment with new possibilities in a highly scalable layer-2 environment.
Why is this so important? Chainlink acts as a bridge connecting smart contracts to real-world data sources, such as asset prices. The Chainlink oracle network guarantees reliable data delivery, collecting information from multiple sources through a decentralized network of independent node operators.
It’s not just about technical integration. As emphasized by Johann Eid, Chief Business Officer at Chainlink Labs, it’s a “strategic alignment of vision and values”. Each data channel reflects the volume-weighted average from selected exchanges, both decentralized and centralized, with built-in filters for suspicious volumes and prices.
But this is just the beginning. Having opened for developers in July, the Base platform faces the challenge of creating compelling applications in the bustling layer-2 ecosystem. Over the past week, it has already gained significant capital thanks to the popularity of meme coins created on it.
Developers from Base and Chainlink agree on one thing – their work is heading towards the mass adoption of blockchain technology. With that goal in mind, the Base team launched the “Onchain Summer” initiative in collaboration with market giants like Coca-Cola, Opensea, and Atari. This initiative consists of a series of events during which creators and developers can produce art or build applications based on the Base platform.
As blockchain technologies evolve, collaborations like the one between Base and Chainlink can bring unexpected innovations and accelerate the adoption of cryptocurrencies in the world of traditional finance.
