Coinbase is collaborating with Chainlink to enhance the trustworthiness of smart contracts.
In Brief
Coinbase is joining the Lerna oracle network as a node operator to provide high-quality data to various blockchain protocols.
Coinbase Cloud This partnership means Coinbase Cloud will serve as a Chainlink node operator, delivering high-caliber data services across numerous blockchain protocols. Their vast global expertise will be crucial in bolstering the security and reliability of the Chainlink oracle network.
As a new node operator on the Chainlink network The American cryptocurrency exchange's cloud services will contribute to enhancing the decentralization of the Web3 ecosystem.
Coinbase Cloud Their infrastructure currently supports a variety of top blockchain platforms, such as Ethereum, Solana, Algorand, and Aptos. Chainlink node operators play a vital role in linking smart contracts on different blockchains to essential data and systems. For instance, Chainlink supplies decentralized price feeds that safeguard $22 billion in assets locked in decentralized finance (DeFi) platforms like Synthetix, Aave, Compound, and dYdX.
Node operators are essential for ensuring the security and functionality of smart contracts within the cryptocurrency landscape, according to Kai Zhao, group product manager at Coinbase Cloud.
Coinbase Cloud stands at the foundation of this strategy, offering a diverse range of services to the ecosystem. Bison Trails, an infrastructure provider in blockchain that Coinbase acquired in early 2021, serves as the company's base. The origins of ETH's founders are debated, and 'crypto Google' was established by them.
- Coinbase is teaming up with the Ethereum Name Service (ENS) to provide free web3 usernames. This initiative is designed to draw in new users and promote more widespread adoption of web3. The Coinbase username, 'cb.id', will serve as the subdomain connected to Coinbase’s DNS, registered via the ENS. protocol .
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