Blockchain

Chainlink Price Feeds Are Now Live On Base, LINK Soars Over 5%

Key Points:

  • Base integrates Chainlink Price Feeds, fusing high-performance blockchain with industry-standard data solutions.
  • Developers gain access to external DeFi applications, leveraging seamless connectivity for lending, futures, and derivatives markets.
  • Scalability meets secure oracle networks, empowering novel DeFi projects and solidifying Base’s dynamic ecosystem.
Base, a high-performance layer-2 blockchain nurtured by Coinbase and backed by Ethereum, has unveiled the integration of Chainlink Price Feeds into its ecosystem.
Chainlink Price Feeds Are Now Live On Base, LINK Soars Over 5% 3

This collaboration equips Base developers with access to Chainlink’s industry-standard data feeds, reinforcing the foundation for advanced DeFi (Decentralized Finance) applications and the expansion of Base’s ecosystem.

The incorporation of Chainlink’s oracle infrastructure enables seamless connectivity between Base and external DeFi platforms like lending and borrowing protocols, futures markets, and derivatives markets.

The synergy between Chainlink and Base enhances the network’s scalability and usability, fostering a dynamic environment for innovative experiments and novel use cases.

Jesse Pollak, Head of Protocols at Coinbase, emphasized the pivotal role of Chainlink Price Feeds in facilitating the migration of existing applications to Base.

The feeds derive their accuracy from decentralized oracle networks sourced from an array of decentralized and centralized exchanges. These feeds ensure comprehensive market coverage by factoring in volume-weighted averages bolstered by safeguards against suspicious activity.

This integration empowers developers to pioneer groundbreaking DeFi applications, benefitting from the synergy between Base’s development solutions and Chainlink’s robust data infrastructure.

The unified efforts of Base and Chainlink present a promising prospect for the DeFi landscape, promising a wave of pioneering applications that can potentially captivate a vast user base. As the partnership evolves, the industry eagerly anticipates the innovative ventures that developers will forge on Base’s thriving platform.

Thanks to the above news, LINK has skyrocketed more than 5.3% on the day, outperforming other coins in the market.

LINK price chart. Source: TradingView

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

The Best Cryptos to Buy Under $1: Affordable Coins with Massive Potential in 2024!

These coins offer impressive tech, strong communities, and, most importantly, accessible prices that won’t break…

3 hours ago

NYC Taxi Driver Struck Gold with Ethereum—What’s His Next Target? BlockDAG, the Presale Giant!

Explore how John, a NYC taxi driver, struck gold with ETH. See how BlockDAG’s BULLRUN100…

8 hours ago

USDT Daily Net Inflow Surges Past $1.3 Billion

According to Amr Taha, the USDT daily net inflow into cryptocurrency exchanges has jumped above…

9 hours ago

BNBChain Google Cloud Investment Backs MVB Projects With $10M

BNBChain Google Cloud Investment provides $10M in cloud credits to support MVB program projects, enabling…

9 hours ago

Lost Dogs: The Way Review – Card Bet Game On TON

Lost Dogs: The Way is an attractive game on Telegram developed by Notcoin combined with…

9 hours ago

Google Cloud ZetaChain Collaboration Secures Web3 Universal Apps

Google Cloud ZetaChain collaboration brings enhanced security to ZetaChain as Google Cloud joins as a…

9 hours ago

This website uses cookies.