Chainlink Data Feeds Now Integrated With Base

Developers on Base have recently been granted access to the Chainlink Scale Program with the new partnership inked with the blockchain data provider. According to a published statement, the Chainlink Price Feeds, earlier today, went live on the Base testnet, an Ethereum (ETH) L2 incubated by American cryptocurrency exchange Coinbase. 

With this, Base has joined the Chainlink Scale program which would provide developers with the platform to create Decentralized Finance (DeFi)-based smart contracts that have the capacity to respond to external information and execute the command. Most importantly, all these would be achieved at a reduced cost in the end. 

Base has always been keen on offering developers a secure and less expensive method of developing decentralized applications (dApps).

This integration with Chainlink goes further to give these developers access to industry-standard Data Feeds as well as other Web 3.0 services. As part of the terms of their agreement, Base will offset some operating costs of Chainlink on its network. Consequently, the gas cost incurred by Chainlink nodes will be reduced when submitting oracle reports on Base.

“By reducing the operating costs of oracle nodes, Base will be able to bootstrap its ecosystem’s growth and become a more attractive environment for building secure and scalable Web3 apps,” Niki Ariyasinghe, Global Head of Blockchain Partnerships at Chainlink Labs said.

Base-Chainlink Partnership Spark Excitement

Base Lead Jesse Pollak said, “We’re super excited to launch Base with collaborators such as Chainlink, and to join the Chainlink SCALE program to empower developers with the critical data and services they need to build their applications.” 

At the same time, the Chainlink team expressed excitement about the partnership. “We’re thrilled to support the testnet launch of Base and work with them on the SCALE program to support the ecosystem growth and long-term adoption of the Base Layer-2 network,” said Ariyasinghe.

Markedly, this is almost six months after Chainlink introduced the Sustainable Chainlink Access for Layer-1 and 2 Enablements (SCALE). From inception, the goal of SCALE has been to speed up the rate of growth of the blockchain and layer 2 ecosystems. Ultimately, it accelerates users’ access to oracle products and services.

The post Chainlink Data Feeds Now Integrated With Base appeared first on Blockchain, Crypto and Stock News.