Coinbase’s New Layer-2 Scaling Platform Employs an Ethereum-Based Altcoin

Leading US cryptocurrency exchange Coinbase uses price feeds from the decentralised oracle network Chainlink (LINK).

Base is Coinbase’s layer-2 network, powered by the blockchain scaling solution Optimism (OP). Its testnet was deployed at the end of last month.

Base is intended to be interoperable with Ethereum, Ethereum layer-2s such as Optimism, and alternative layer-1s such as Solana (SOL).

Chainlink’s pricing feeds are currently live on the Base testnet, according to the company. Base also participates in the Chainlink SCALE initiative, intended to make Chainlink data and services more affordable for developers.

Jesse Pollak, Base’s chief developer, said, “We are delighted to launch Base with Chainlink and to join the Chainlink SCALE program to provide developers with the essential data and services they need to create apps.”

Chainlink’s price feed technique connects other blockchains with the USD values of different tokens, such as ETH, using many oracle nodes and data sources. Applications and smart contracts may then utilize the data to settle trades, loans, and other transactions.

According to Coinbase’s Pollak, The objective of Base was to make it “dead simple” for developers to construct decentralized apps (DApps) and for customers to access these DApps via Coinbase products.

Pollak said, “We’ve made an effort to attract everyone into this open environment. To make this a success, we will need to continue to emphasize decentralization, open source, and inclusivity, as well as build a bridge that links our customers to the crypto economy and leads them to sites that are not controlled by Coibase but may provide them with useful experiences.”

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