Coinbase Cloud, the cloud services division of the popular crypto exchange, has teamed up with Chainlink Network to strengthen its involvement in the decentralized space.
In their collaboration, Coinbase Cloud will take on the role of a node operator, utilizing their expertise and infrastructure to support the operations of the Chainlink Network. This partnership aims to enhance the multi-chain ecosystem by providing reliable and valuable data for Web3 applications.
Chainlink Network is widely recognized as a top oracle solution and Web3 services platform. It plays a vital role in connecting blockchain-based smart contracts with external data and systems, serving as a bridge between the evolving Web3 and the traditional Web2 realms. Through its decentralized oracle networks (DONs), Chainlink gathers and delivers real-world data to smart contracts, improving the transparency and effectiveness of on-chain economies.
The Chainlink Network has played a crucial role in facilitating a vast amount of economic activity, enabling over $7 trillion in transactions and delivering more than 7.4 billion data points on-chain. Chainlink offers a wide range of services, including Price Feeds, VRF, Proof of Reserve, Automation, Functions, and CCIP. By becoming a node operator, Coinbase Cloud will contribute to ensuring the security and dependability of these services provided by Chainlink.
Coinbase Cloud is a secure and reliable platform for blockchain infrastructure that empowers developers by providing them with the necessary tools and services to create, deploy, and expand their blockchain applications. The platform offers a wide range of features, catering to different user needs.
One notable feature is the staking services, which allow individual investors, enterprises, and institutions to earn rewards by offering security and services to Proof of Stake networks.
Another essential component is the Wallet as a Service (WaaS), which offers a comprehensive solution for building and managing secure crypto wallets. It includes key management, hot/cold storage, and multi-factor authentication to ensure the safety of digital assets.
Furthermore, developers can leverage the Coinbase Pay SDK, which simplifies the integration of crypto payments into their applications. This SDK supports various cryptocurrencies and payment methods, making it easier for users to incorporate crypto payments seamlessly.
Overall, Coinbase Cloud provides developers with a robust platform equipped with essential features to support their blockchain projects and facilitate the growth of the crypto ecosystem.
Coinbase Cloud provides a solution for running nodes on different blockchain networks, which is important for participating in those networks. It also includes Coinbase Commerce, a payment solution that helps businesses accept crypto payments easily with features like simple setup, fraud protection, and reporting. Coinbase operates Base, a developer platform that grants access to APIs, documentation, and support, making it valuable for developers at all levels. With Coinbase’s expertise in the blockchain sector, Coinbase Cloud is a reliable platform for creating secure blockchain applications.
Coinbase Cloud, the cloud services division of the crypto exchange, will launch a Chainlink node to take advantage of its strong infrastructure across multiple regions and cloud platforms. With their expertise in managing blockchain data for various networks like Aptos, Solana, Ethereum, Algorand, and Flow, Coinbase Cloud brings valuable experience to the collaboration. Additionally, Coinbase Cloud’s enterprise-grade security ensures the data provided is of high quality and reliability.
Kai Zhao, Group Product Manager at Coinbase Cloud, shares:
“By developing decentralized Oracles, we contribute to the creation of a decentralized and trustworthy future for blockchain technology. We envision onchain as the next phase of online interaction, and we are excited to collaborate with Chainlink in advancing this future.”
William Reilly, Global Head of CeFi, Sales & Strategy at Chainlink Labs, expresses excitement about the partnership, highlighting Coinbase Cloud’s valuable addition to the Chainlink ecosystem. Reilly emphasizes Coinbase Cloud’s extensive experience, robust infrastructure, and strong commitment to security as compelling factors that contribute to their significance.
The collaboration between Coinbase Cloud and Chainlink marks a significant advancement in the Web3 and blockchain sector. By combining Coinbase Cloud’s robust infrastructure with Chainlink’s oracle solution, the availability of reliable data for Web3 applications is expected to see notable enhancements. This partnership aligns with the industry’s ongoing efforts to promote decentralization and strengthen the integrity of the blockchain ecosystem as a whole.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
