Chainlink launches Data Streams and Verifiable Random Function (VRF) services on Base

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Chainlink recently integrated its Data Streams and Verifiable Random Function (VRF) services on Base’s L2 Blockchain. The collaboration means that the full suite of Chainlink products and services will be available to developers who use the Layer-2 blockchain Base. The integration will promote the performance, security, and reliability of decentralized applications.

The recent collaboration between Chainlink, the decentralized computing platform, and Base, a Layer-2 Blockchain, has enabled developers using Base to access Chainlink’s full product catalog. Chainlink’s Data Streams and Verifiable Random Function (VRF) services are now available on the Base blockchain. The development is set to bolster the decentralized applications (dApps) on Base by improving their functionality.

Chainlink integrates its products on Base blockchain

Base is a Layer-2 blockchain built on Ethereum that provides developers with the scalability, security, and reliability needed to run onchain apps. The blockchain allows developers to access Ethereum features such as Account Abstraction and smart contract wallets at a low cost. Coinbase scales the Layer-2 blockchain and leverages its services and distribution to facilitate broader adoption in the crypto ecosystem.

Chainlink is a serverless, decentralized computing platform that allows developers to perform trust-minimized computations by connecting their smart contracts to APIs of their choice. The Chainlink Functions Beta launch in April 2024 enables developers to run custom off-chain logic for Web3 applications. The initial launch likened Chainlink to existing serverless solutions like AWS Lambda or GCP CloudFunctions, which provide developers with trust-minimized compute infrastructure.

The recent comprehensive integration expanded Chainlink’s full offerings on the Base blockchain via its integration of Chainlink’s Data Streams and Verifiable Random Function (VRF) services. Chainlink Data streams provide developers with the infrastructure to unlock performant, reliable, and decentralized on-chain derivatives. Chainlink VRF is the most widely adopted random number generator (RNG) in Web3.

Chainlink enhances Base with Data Streams and VRF integration

In a statement, Chainlink stipulated that the integration of Data Streams aims to improve the functionality of dApps by improving their efficiency to a level comparable to centralized exchanges. Chainlink identified Data Streams’ automated execution capabilities and use of market data as factors that could make dApps competitive and responsive to market changes.

The statement also noted that integrating Verifiable Random Function (VRF) services could improve security. Chainlink’s brief explained that security could be heightened by using VRF to facilitate random number generation for smart contracts. Chainlink explained that VRF could result in lower gas fees and improved user experience. 

“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.”

–Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs.

Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs, stated that the collaboration mutually benefited the involved platforms. Thodoris also emphasized the role of Data Streams and VRF in developing the next generation of DeFi products, as they would provide developers with increased maneuverability that capitalized on Chainlink’s highly secure infrastructure.

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