Chainlink tools now power millions of transactions on Base network

Blockchain Oracle network Chainlink revealed that its entire product suite is now available to developers on the Coinbase-incubated Ethereum layer-2 network Base, according to an Aug. 15 statement shared with CryptoSlate.

This followed the firm integration of its Data Streams and Verifiable Random Function (VRF) products on the layer-2 network.

Tom Vieira, Base’s Head of Product, expressed enthusiasm about Chainlink’s entire infrastructure solutions—including the Cross-Chain Interoperability Protocol (CCIP) and Price Feeds—being available on the platform.

He noted that this arms developers with the necessary tools to build the next generation of on-chain applications.

Over the past year, Base has rapidly gained traction in the industry, becoming a popular choice for Ethereum layer-2 transactions. According to Growthepie data, Base was responsible for more than 4 million transactions during the past day, while its closest rival, Arbitrum, only processed 1.8 million transactions during the same period.

Data streams

Data Streams offers a cutting-edge solution for the DeFi market, delivering low-latency market data and automated execution. This innovation paves the way for a new era of fast and user-friendly DeFi products.

Chainlink Data Streams leverages robust, decentralized infrastructure to provide high-frequency market data. This capability allows high-throughput DeFi products to offer a smooth user experience akin to centralized exchanges (CEXs) while ensuring unmatched on-chain execution speed and proven security.

Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs, noted that Chainlink Data Streams’ low-latency data will empower developers to create the next generation of DeFi solutions on the Ethereum-based network.

Notably, several DeFi protocols, such as Avalanche-based GMX, are using the solution to power their platform’s infrastructure.

VRF

Chainlink VRF is a leading Web3 random number generator (RNG) with over 21 million transaction requests completed across various blockchains.

The recent VRF v2.5 upgrade introduces significant improvements for developers. It offers low-friction billing, better gas consumption predictions based on network conditions, and an enhanced user experience for smooth upgrades.

Despite these upgrades, Chainlink VRF maintains an end-to-end latency of about two seconds across different use cases. Karakostas commented:

“VRF will now enable smart contracts on Base to access random number generation securely.”

The post Chainlink tools now power millions of transactions on Base network appeared first on CryptoSlate.