Chainlink Unveils Data Streams and VRF on Base

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by Giorgi Kostiuk

2 years ago

Made with AI

  1. Chainlink Data Streams on Base
  2. Chainlink VRF and Its Updates
  3. Chainlink's Role in Asset Management and Transparency


    4. Chainlink officially launched two of its flagship products, Chainlink Data Streams and Chainlink VRF, on the Base blockchain, incubated by Coinbase and secured by Ethereum.

    Chainlink Data Streams on Base

    Chainlink Data Streams offers an advanced data solution tailored for the DeFi market. It integrates low-latency market data with automated execution to craft high-throughput, user-friendly DeFi products. Reports suggest that Data Streams provides experiences similar to centralized exchanges (CEXs) while ensuring top-notch security and on-chain execution speed.

    Chainlink VRF and Its Updates

    Chainlink VRF has processed over 21 million request transactions across various blockchains. The latest VRF v2.5 upgrade introduces several enhancements, including more efficient billing, improved gas consumption prediction, and an enhanced user experience for future upgrades.

    Base’s builder-friendly environment is a natural fit for Chainlink products. Chainlink Data Streams will enable developers to craft the next generation of DeFi products, and VRF will support secure random number generation for smart contracts on Base.Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs

    Chainlink's Role in Asset Management and Transparency

    There have been multiple integrations with Chainlink recently. This week, asset management firm Superstate integrated Chainlink's infrastructure into its Short Duration US Government Securities Fund (USTB) to boost transparency and utility by providing real-time net asset value (NAV) data through Chainlink’s decentralized oracle technology. Additionally, 21Shares US LLC integrated Chainlink’s Proof of Reserve on the Ethereum mainnet to improve transparency for its Core Ethereum ETF (CETH), ensuring clear visibility into the Ethereum reserves backing the ETF. Furthermore, Chainlink’s Proof of Reserve has been adopted by several major financial institutions including Bancolombia Group’s Wenia and international banks like BNY Mellon and Citi.

    The launch of Chainlink Data Streams and VRF on the Base blockchain demonstrates Chainlink’s commitment to developing and integrating new solutions for the DeFi market and ensuring transparency and reliability of financial products.

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