Coinbase uses Ethereum-based Altcoins in its new Layer-2 scaling platform
Top US crypto exchange Coinbase is now using price feeds from decentralized oracle network Chainlink (LINK) for its new Ethereum (ETH) layer-2 project called Base.
Base is Coinbase’s layer-2 network powered by blockchain scaling solution Optimism (OP), and the testnet was launched late last month.
Base is designed to be compatible with Ethereum, Ethereum layer-2s like Optimism and other alternative layer-1s like Solana (SOL).
According to Chainlink, the price feeds are now live on the Base testnet. Base also participates in the Chainlink SCALE program, which is designed to provide Chainlink data and services available to developers at a cheaper price.
Says Jesse Pollak, Base’s lead developer,
“We are very excited to launch Base with partners like Chainlink, and to join the Chainlink SCALE program to provide developers with the critical data and services they need to build their applications.”
Chainlink’s price feed mechanism provides the USD prices of various tokens, such as ETH, to other blockchains, using a number of independent oracle nodes and data sources to find and deliver the data. The data can then be used by applications and smart contracts to help settle trades, loans or other transactions.
Coinbase’s Pollak told TechCrunch that the goal of Base was to make it “dead easy” for developers to build decentralized applications (DApps) and for users to access those DApps through Coinbase products.
says Pollack,
“We’ve made an effort to reach out to everyone and bring them into this open ecosystem. What will be required of us to make this successful is to continue doubling down on the values of decentralization, open source and inclusiveness and a bridge that connects our users into the crypto economy and brings them to places they can go. is not controlled by Coibase, but can offer them valuable experiences.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered straight to your inbox
Check price action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/fran_kie
