- Data Streams unlocks high-throughput DeFi products quickly and easily by combining automated execution with low-latency market data.
- Chainlink VRF is the most used random number generator (RNG) in web 3.
As of Thursday morning, Chainlink VRF and Chainlink Data Streams are operational on Base, the Layer 2 blockchain that Coinbase is incubating. Base developers now have access to the full Chainlink product suite thanks to these most recent connections.
Low-latency market data combined with automated execution is what allows Data Streams to unlock high-throughput, quick-to-use DeFi products.
The company said in a press release on Thursday that Chainlink Data Streams enables high-throughput DeFi products to create a seamless user experience similar to CEXs while offering unprecedented onchain execution speed and battle-tested security infrastructure. Chainlink Data Streams does this by supplying high-frequency market data using robust, decentralized infrastructure.
According to the company, Chainlink is a decentralized computing platform that has made over $12 trillion in transactions possible. Verifiable applications and high-integrity markets for gambling, DeFi, banking, and other industries are powered by Chainlink.
Developed by Coinbase, Base is a decentralized blockchain network that supports decentralized apps (dApps) by utilizing Ethereum’s Layer 2 blockchain.
Chainlink products are a perfect fit for Base’s builder-friendly environment, and we’re happy to see the entire Chainlink platform now available on Base. According to the statement, Thodoris Karakostas is Chainlink Labs’ head of blockchain partnerships. The next generation of DeFi products can be developed by developers using low-latency market data from Chainlink Data Streams, and smart contracts on Base can now safely access random number generation thanks to VRF.
According to the announcement, Chainlink VRF is the most extensively used random number generator (RNG) in web3, having completed over 21 million request transactions for thousands of smart contracts. A few enhancements for developers are included in the most recent VRF v2.5 update, such as simplified billing and more precise gas consumption estimates depending on network circumstances.
We’re thrilled to see that all of Chainlink’s infrastructure solutions are now available on Base enabling developers to create next-generation onchain apps, says Base’s head of product, Tom Vieira.
Chainlink Data Streams and VRF are now available to base developers in addition to CCIP, Functions, and Price Feeds.
Chainlink introduced Transporter, a software earlier this year that uses the CCIP to move messages and cryptocurrency tokens between blockchains. Additionally, it disclosed that it will be working with cryptocurrency bank Sygnum and Fidelity International on a project aimed at putting net asset value data onchain.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
