Coinbase Cloud, a significant participant in the cryptocurrency market, has announced cooperation with Chainlink, a decentralized oracle network. Coinbase Cloud wants to promote Web3 by securely fusing smart contracts with actual data by joining the Chainlink Network as a node operator.
The partnership offers considerable potential for the expansion of the multi-chain ecosystem by combining the multi-region infrastructure of Coinbase Cloud with vast knowledge of operating high-performance validators.
Coinbase Cloud aims to provide trustworthy and high-quality data to enable a variety of applications within the Web3 ecosystem by utilizing Chainlink’s decentralized Oracle technology.
The choice made by Coinbase Cloud to become a node operator on the Chainlink Network shows how committed the company is to boosting the decentralized ecosystem’s data transmission efficiency, security, and dependability.
Coinbase Cloud, a well-known name in the cryptocurrency sector, brings a plethora of knowledge and resources to the table and has positioned itself as a major force in promoting the uptake of Web3 technologies.
Coinbase Cloud currently manages and operates nodes for blockchain data infrastructure on networks that include Aptos (APT), Ethereum (ETH), Flow, Solana (SOL), and Algorand (ALGO). The inclusion of Chainlink would strengthen its position as a key player in the Web3 ecosystem.
The collaboration between Chainlink and Coinbase Cloud will have a significant influence on the Web3 community. Developers and companies now have access to a reliable and trustworthy data source, assuring the correctness and integrity of smart contract operations. This is made possible by combining Coinbase Cloud’s infrastructure with Chainlink’s Oracle network. Beyond decentralized finance (DeFi) applications, the advantages apply to several industries, including supply chain management, insurance, gambling, and more.
The ability of Coinbase Cloud to host high-performance validators will be vital as the relationship develops in building a strong and dependable Oracle network inside the Chainlink ecosystem. A key issue in Web3 is the reliable and safe connectivity between smart contracts and external data sources. This joint project solves this issue.
Coinbase Cloud and Chainlink open the door for the smooth adoption of blockchain technology across businesses by offering a decentralized Oracle solution. The improved data quality made possible by this partnership ensures the precision and integrity of decentralized apps, inspiring user confidence and paving the way for the creation of even more complicated and sophisticated use cases.
With this latest development, Coinbase joins a group of prominent businesses that have either taken on the role of node operator or provided such infrastructure to operators. Amazon and Deutsche Telekom both provide Web3 infrastructure through their subsidiary businesses.
In order to meet the demands of Web3 consumers, Coinbase offers a variety of solutions. Users may develop and publish their Web3 apps using the exchange’s Node solution. Additionally, the platform has introduced Base, an Ethereum Layer-2 solution.