- Base has soared to become the biggest Ethereum L2 by a hefty margin, experiencing over 2x more daily transactions than its closest competitor.
- Popular decentralised Oracle network Chainlink has teamed up with Base to provide a suite of tools for dApp developers.
- The most recent integration includes Chainlink Data Streams, which will allow fast and accurate market data to be “streamed” to DEXs and other DeFi platforms.
- Meanwhile, Chainlink VRF provides tamper-proof random number generation for smart contracts.
Chainlink has teamed up with crypto exchange Coinbase’s Layer-2 network, Base, to provide the protocol with several tools for developers.
The announcement comes as Base easily surpassed all other scaling solutions for Ethereum, experiencing over four million transactions within the past 24 hours. By comparison, the second-largest Ether L2, Arbitrum, saw just 1.8 million transactions.
By most metrics, Base has been the most successful L2 since June this year, giving even more weight to the collaboration between the network and Chainlink.
Random Number Generators and Market Data Streams to Revolutionise dApps on Base
Earlier this week, Chainlink reported that their entire suite of development tools were available on Base.
The two new integrations were Chainlink Data Streams and Chainlink VRF.
Data Streams is the core of Chainlink’s decentralised Oracle computing, fetching accurate market data at record speeds. This allows dApp developers to leverage the tool to create DEXs, liquid staking services and borrowing/lending platforms that can execute transactions quickly and fairly.
Related: Solana DEX Volume Plunges 72% Amid Decreasing Interest for Memecoins
Meanwhile, Chainlink VRF is a blockchain-based random number generator (RNG) that boasts low gas fees while maintaining an easy-to-use user interface.
If you’ve ever played a game, you’ve likely had an experience with RNG. It can be the highlight of your day – or it can make you want to smash your controller. RNG is important for all sorts of blockchain applications, especially when building randomised smart contracts. It allows dApps to produce truly tamper-proof outcomes. Over 21 million transactions have been performed while leveraging Chainlink VRF’s RNG technology.
Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs, was excited about the potential of their products on Base.
Chainlink Data Streams low-latency market data will enable developers to build the next generation of DeFi products, while VRF will now enable smart contracts on Base to access random number generation securely.
Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink LabsCredit: Source link
