- Base surpasses competitors with a daily transaction volume of over 4 million, highlighting its rapid adoption and growth.
- Data Streams, part of Chainlink’s toolset, offers low-latency market data to accelerate user-friendly DeFi product development.
Chainlink has successfully integrated its full range of products on Base, Ethereum’s Layer-2 network, which includes key tools like Data Streams and Verifiable Random Function (VRF). This development provides Ethereum developers with enhanced capabilities for building decentralized applications.
Chainlink's data, compute, and interoperability platform
powered by decentralized oracle networks
enable a variety of Web3 applications
across numerous blockchains
while seamlessly connecting the global financial system onchain pic.twitter.com/Oxh0hM5Lf5
— Chainlink (@chainlink) August 15, 2024
Base has experienced substantial growth, evidenced by its daily transaction volume which now exceeds 4 million, significantly outperforming its competitor Arbitrum, which processed 1.8 million transactions in the same timeframe. This performance highlights Base’s effectiveness and its increasing preference as a transaction platform on Ethereum.
#Chainlink Data Streams supercharge DeFi applications with sub-second market data, enhancing performance and reliability.
Integrate the BTC/USD Price Feed on @arbitrum and @avax to build secure DeFi markets around @Bitcoin.https://t.co/sTKLpqvxAF pic.twitter.com/Rb0lsvDzIZ
— Chainlink (@chainlink) August 15, 2024
Chainlink’s Data Streams feature stands out by offering market data with minimal delay and supports the rapid development of DeFi products that are efficient and user-friendly. It seeks to replicate the user experience found on centralized exchanges, while leveraging the inherent security and speed of blockchain technology.
Moreover, Chainlink’s VRF has established itself as a trusted random number generator within the Web3 environment, having processed more than 21 million transaction requests across various blockchains.
Chainlink Data Streams and VRF are now officially live on @base.
With these latest integrations, all #Chainlink services are now live on Base, making the Chainlink Scale partner incubated by @coinbase fully platformed on Chainlink.https://t.co/2FqF39ZqIR pic.twitter.com/8Rorar5byr
— Chainlink (@chainlink) August 15, 2024
The recent enhancement to version 2.5 introduced lower friction in billing and improved predictions for gas usage based on current network conditions, optimizing developer operations.
The deployment of Chainlink’s tools on Base is expected to greatly expand the network’s development potential. It also creates a secure and scalable environment for developers, facilitating the deployment of Ethereum-compatible code and enabling connections between users and assets across Ethereum and other interoperable chains.
Base’s product head, Tom Vieira, and Thodoris Karakostas from Chainlink Labs emphasized the substantial impact this collaboration is expected to have on the development of future DeFi applications.
This initiative not only extends Chainlink’s functionalities but also solidifies Base’s competitive edge as a key player among Ethereum’s Layer-2 solutions.
