Coinbase’s Base Embraces Chainlink’s Cross-Chain Protocol

Explore how Chainlink’s latest move to integrate with Coinbase’s base reshapes the landscape of cross-chain transactions.

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  • Chainlink’s cross-chain protocol is now integrated with Coinbase’s base.
  • The move improves decentralized finance interoperability.
  • The collaboration hints at a future with seamless cross-chain transactions.

After posting significant growth just months before its launch, the Base Network continues to impress investors. Most recently, the decentralized oracle network Chainlink announced its integration with Base. The move will give Coinbase’s network access to real-world data, boosting its utility. 

On Wednesday, September 27, Chainlink announced its decision to extend its cross-chain protocol to Coinbase’s base. This integration aims to enhance the interoperability between blockchains, ensuring smoother and more efficient transactions.

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Chainlink, known for its decentralized Oracle network, bridges the gap between smart contracts and real-world data. Its network will enable Base developers to build innovative decentralized applications (dApps) that can function across multiple blockchains.

“Developers now have access to the leading interoperability protocol, allowing them to build cross-chain applications and services easily,” said Johann Eid, Chief Business Officer at Chainlink Labs. 

Base creator Jesse Pollak added that the launch will let developers “securely build cross-chain applications, empowering them to experiment further and unlock new use cases.”

What’s Next for Base? 

Just one month after its launch, Base experienced an unprecedented surge in transactions and unique addresses. 

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The most notable achievement for Base is its triumph over Solana in terms of Total Value Locked (TVL). On Monday, September 25, Base boasted a TVL of roughly $374.43 million, overshadowing Solana’s $306.93 million. 

Built as a Layer-2 network on the Ethereum framework, Base aims to offer faster transactions, scalability, and reduced gas fees. While it swears on decentralization, Base has a strong backer: Coinbase, one of the largest crypto exchanges in the world. 

On the Flipside

  • Base’s recent surge in activity and popularity is likely due to applications like FriendTech and Aerodrome Finance. 
  • As a Layer-2 solution built on the Ethereum framework, Base benefits from Ethereum’s established network effects and user base. 

Why This Matters

The partnership between Coinbase and Chainlink could lead to the development of new dApps and platforms. In turn, this would boost blockchain use cases and adoption. 

Read more about Base’s growth a month after its launch: 
Coinbase’s Base Network Surpasses Solana in Total Value Locked

Read more about the green potential for crypto mining:
Argentinian Oil Company Mines Crypto to Reduce Energy Waste

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
David Marsanic

David Marsanic is a journalist for DailyCoin who covers the intersection of crypto, traditional finance, and government. He focuses on institutionalized crypto entities like major cryptocurrency exchanges and Solana, breaking down complex topics into easy-to-understand writing. David's prior experience as a business journalist at various crypto and traditional news sites has enabled him to maintain a critical approach to news while adhering to high journalistic integrity standards.