Base Completes Chainlink Rollout With Data Streams and VRF

Base developers can now access Chainlink’s entire product suite.

On Aug. 15, Base, the booming Layer 2 network from Coinbase, integrated Chainlink Data Streams and Verifiable Random Function (VRF).

Data Streams provide automated execution of low-latency DeFi market data, providing DeFi protocols with high-frequency market data via decentralized infrastructure. Chainlink described Data Streams as allowing DeFi products to offer user experiences comparable to centralized exchanges.

VRF provides verifiable random number generation, allowing smart contracts to generate randomness in a provably fair and untamperable fashion. The protocol is highly adopted by web3 gaming and NFT projects and has fulfilled more than 21 million transaction requests for smart contracts to date. VRF recently underwent its v2.5 upgrade, introducing improved gas fee predictions and UX upgrades.

“Chainlink Data Streams’ low-latency market data will enable developers to build the next generation of DeFi products, while VRF will now enable smart contracts on Base to access random number generation securely,” said Thodoris Karakostas, the head of blockchain partnerships at Chainlink Labs.

The move completes the rollout of Chainlink’s products on Base, with developers already able to access Chainlink’s Cross-Chain Interoperability Protocol, Price Feeds, and Functions services.

“We’re excited to see all of Chainlink’s infrastructure solutions are now on Base for developers to build next-gen on-chain apps,” said Tom Vieira, Base’s head of product.

The price of Chainlink’s LINK token is down 1% over the past 24 hours, according to CoinGecko.

Base consolidates L2 dominance

The news comes as Base is extending its Layer 2 market share.

Base hosted 3.47 million active addresses over the past seven days, accounting for 65.5% of weekly L2 users, according to GrowThePie.

Base also hosted an all-time high of 4.06 million transactions over the past 24 hours, making up 32% of the 12.72 million transactions hosted across Layer 2s — with L2 tx volume also at a record high.

Base boasts a total value locked with $6.22 billion, ranking as the second-largest Layer 2 behind Arbitrum One with $14.9 billion, according to L2beat.