SAN FRANCISCO - In a significant move for the blockchain industry, Chainlink Automation has been integrated into Coinbase (NASDAQ:COIN)'s Base L2 network. This strategic partnership is set to reduce transaction costs for developers by as much as 90%, marking a substantial step forward in making blockchain development more accessible and cost-effective.
The collaboration between Chainlink and Coinbase is not just about lowering costs. It also aims to enhance the scalability of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. By integrating Chainlink Automation into the Base L2 network, developers are now equipped with advanced tools to create and manage decentralized applications (dApps) more efficiently.
One of the key features that this integration brings to the table is Chainlink's Data Feeds. These feeds provide reliable and tamper-proof data for smart contracts, enabling them to interact with real-world information in a secure and dependable manner. Furthermore, the partnership fosters cross-chain interoperability, which is the ability for different blockchain networks to communicate and share information. This is crucial for the widespread adoption and functionality of dApps across various blockchain platforms.
The integration of Chainlink Automation into Coinbase's Base L2 network is a testament to the ongoing efforts to streamline blockchain technology for wider use and to propel the development of the Web3 space. By providing developers with the tools to build dApps with lower transaction costs and enhanced capabilities, this partnership is paving the way for the next generation of decentralized applications and services.
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