Chainlink's Data Streams and VRF Now Live on Coinbase's Base Layer 2 Blockchain

Chainlink's Data Streams and VRF are now up and running on Base, the Layer 2 blockchain developed by Coinbase. This means developers on Base can now access the full range of Chainlink products.

Data Streams combines low-latency market data with automated execution. This setup allows for the creation of fast and user-friendly high-throughput DeFi products. Pretty exciting, right?

According to a press release from Chainlink, “By supplying high-frequency market data using robust, decentralized infrastructure, Chainlink Data Streams enables high-throughput DeFi products to create a seamless user experience comparable to CEXs while providing unprecedented on-chain execution speed and battle-tested security infrastructure.”

Chainlink is a decentralized computing platform that has facilitated over $12 trillion in transaction value. It supports verifiable applications and high-integrity markets across various sectors, including banking, DeFi, and gaming. Base leverages Ethereum's Layer 2 blockchain to enable decentralized applications, or dApps, within a decentralized network.

Thodoris Karakostas, head of blockchain partnerships at Chainlink Labs, expressed his excitement: “Base’s builder-friendly environment is a natural fit for Chainlink products, and we’re excited to see all of the Chainlink platform now available on Base. Chainlink Data Streams low-latency market data will enable developers to build the next generation of DeFi products, while VRF will now enable smart contracts on Base to access random number generation securely.”

Chainlink VRF is the most widely adopted random number generator, or RNG, in web3. It has processed over 21 million request transactions for thousands of smart contracts. The recent VRF v2.5 upgrade brings some nice improvements for developers. These include streamlined billing and more accurate gas consumption predictions based on network conditions.

Tom Vieira, head of product at Base, shared his enthusiasm: “We’re excited to see all of Chainlink’s infrastructure solutions are now on Base for developers to build next-gen on-chain apps.” Developers on Base can now utilize Chainlink Data Streams and VRF, along with CCIP, Functions, and Price Feeds.

Earlier this year, Chainlink launched Transporter. This app helps move crypto tokens and messages between blockchains, powered by its CCIP. They also announced a partnership with Fidelity International and crypto bank Sygnum to bring net asset value data on-chain.