Coinbase Cloud Joins Chainlink Oracle
To strengthen its underlying crypto infrastructure, Coinbase Cloud has disclosed ambitions to become a node operator on the Chainlink network. Additionally, Coinbase Cloud will employ its foundation and proficiency in processing blockchain data to guarantee the dependability and security of Chainlink’s Oracle network.
As previously announced, the cloud service of the cryptocurrency exchange has become a node operator on the Chainlink network, increasing the decentralisation of the web3 ecosystem. Several well-known blockchains, including Aptos, Algorand, Ethereum, and Solana, are already supported by Coinbase Cloud.
Operators of Chainlink nodes continue to be crucial to the platform. For instance, they provide the connection of systems & data to smart contracts on different blockchains. Web2 and Web3 are connected by chainlink. It gathers, prepares, and sends data to smart contracts.
For instance, Chainlink offers decentralised pricing feeds, which secures about $22B TVL in DeFi networks including dYdX, Compound, Aave, and Synthetix. Kai Zhao of Coinbase Cloud emphasised the advantages of node operators in the crypto realm, saying that they guarantee the security and dependability of smart contracts.
(With inputs from Shikha Singh)
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