In an astute attempt to boost the dependability and security of smart contracts in the brand-new Web3 ecosystem. Coinbase Cloud, Coinbase’s global infrastructure provider, and subsidiary, has announced a cooperation with the Chainlink Oracle network.
This collaboration appears to have been made to improve data supply from multiple blockchain protocols, utilizing Coinbase Cloud’s significant experience in data management.
Moreover, Coinbase Cloud strengthens the decentralization of the Web3 ecosystem by joining the Chainlink network as a node operator. This also cements its place as a crucial role in the future of blockchain technology.
In addition, Coinbase Cloud’s engagement is expected to have a substantial influence on the ecosystem, given its past record of supporting notable blockchains like as Ethereum, Solana, Algorand, and Aptos. Node Operators play an important role in connecting smart contracts across multiple blockchains and guaranteeing effective integration with data and systems.
Chainlinks oracle network is a very important part in the bridging between the traditional Web2 system with the brand-new Web3 decentralized world. Its dependable infrastructure collects, processes, and transmits data to smart contracts, allowing for secure and dependable execution.
(Chainlink Labs Team at SmartCon. Source: Coindesk)
Moreover, Coinbase has been actively promoting itself as a critical pillar inside the Web3 ecosystem, with the goal to rival other companies.
As a critical component of this plan, Coinbase Cloud enables multiple services throughout the ecosystem. Its product package, which includes the Node platform for developing and administering Web3 apps. This demonstrates Coinbase’s dedication to pushing innovation and supporting seamless blockchain integration.
Coinbase Cloud has reached yet another milestone with the assistance of Chainlink. In February 2022, Coinbase Cloud launched its own Ethereum layer-2 network called Base. They did this to establish themselves as a major participant in the business.
Lastly, the future of smart contracts is bright as Coinbase Cloud joins forces with Chainlink’s oracle network. The agreement paves the path for larger use of blockchain technology and strengthens the foundation of the Web3 ecosystem.