Chainlink Price Feeds Go Live on Base Testnet, New Ethereum L2 Incubated by Coinbase
Sunday, April 16, 2023
Chainlink is now available for developers building on Base. Base will also participate in the Chainlink SCALE program to offer developers lower-cost access to critical data and oracle services.
DENVER, March 3, 2023 /PRNewswire/ -- Today, Chainlink Price Feeds are live on Base testnet, a new Ethereum L2 incubated by Coinbase. Base aims to offer developers a secure, low-cost way to easily build decentralized applications. With this integration, developers building on Base can have access to industry-standard Chainlink Data Feeds and other web3 services.
Base will also be participating in the Chainlink SCALE program, designed to make Chainlink data and services available to developers at a lower cost. As part of the program, Base will cover certain operating costs of Chainlink services on its network, and reduce the gas costs incurred by Chainlink nodes when submitting oracle reports on Base.
"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," said Jesse Pollak, Base lead.
Chainlink SCALE is an initiative centered around sustainably accelerating the growth of blockchain and Layer-2 ecosystems. Its focus is providing L1s/L2s with increased access to high-quality, low-cost, and in-demand oracle services by enabling them to cover the operating costs (e.g. transaction gas fees) of Chainlink oracle networks for a period of time. As blockchain/L2 ecosystems in the Chainlink SCALE program mature, the operating costs of oracle networks can increasingly transition toward being fully covered by dApp user fees.
"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 Niki Ariyasinghe, Global Head of Blockchain Partnerships at Chainlink Labs. "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."
This deployment of resources will help Base become a secure and high-utility layer-2 solution in the Ethereum ecosystem, while giving its ecosystem developers a wide range of highly reliable oracle services for an extended period of time. This will set a foundation for Base to be able to support secure, fully featured, and highly performant applications.
About Chainlink
Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.
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SOURCE Chainlink
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