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- Chainlink Automation has launched on Base, the Coinbase-incubated Ethereum Layer 2 network, allowing developers to increase uptime guarantees and build dApps requiring less computing power.
- It also allows developers to increase the computation in their smart contracts, which opens up more advanced use cases for users of Base.
Chainlink Automation, a smart contract automation solution, has launched on Base, the Ethereum Layer 2 network incubated by American exchange Coinbase. The integration avails the most cost-efficient and decentralized automation solution for the development of the verifiable web.
#Chainlink Automation is officially live on @base, the layer-2 network incubated by @coinbase.
Base builders can now leverage Web3’s most reliable and performant automation solution to power next-gen use cases.
— Chainlink (@chainlink) January 23, 2024
Chainlink Automation is a solution from the leading oracle network that lets users automate their smart contracts and scale their dApps in a decentralized, verifiable and cost-efficient manner. It promises to cut gas costs by 90%, unlock massive compute power and save time and resources otherwise spent on DevOps.
With the integration, developers building applications on Base can offload the compute-heavy tasks to the Chainlink network. While maintaining the verifiability standards they enjoyed on Base, they will only part with 1/10th of the fees.
The integration will usher in a new era of Web3 experiences for Base users and developers, commented Johann Eid, the Chief Business Officer at Chainlink Labs, the entity behind the protocol’s development.
He added:
We’re pleased to bring Chainlink Automation’s high-performance compute to the Base network. Combining Chainlink’s off-chain computation capabilities with Base’s highly scalable layer-2 network enables developers to create next-generation Web3 experiences that support the adoption of the verifiable web.
Base and Chainlink Automation—The Next Era of Web3
Aside from cutting down on fees, developers on Base can now increase the computation they include in their smart contracts, which will avail new opportunities for the network. Chainlink’s Automation also offers advantages such as the ability for smart contracts to react to on-chain events.
Base creator Jesse Pollak noted that there’s no limit to what developers on Base can now achieve.
We’re excited to see the next-gen apps that developers can build on Base using the advanced offchain compute capabilities enabled by Chainlink Automation. Being able to offload compute-heavy tasks to the Chainlink Network expands the use cases that Base developers can realize.
Automation joins other solutions from Chainlink that are now available on Base, including the cross-chain interoperability protocol (CCIP), which connects private and public blockchains and enables users to send messages, transfer assets, and build cross-chain apps. Other solutions include Chainlink’s decentralized data feeds to power DeFi.
What will you build with @Chainlink Automation?
Now live on Base https://t.co/AK6llnp4tL
— Base 🛡️ (@base) January 23, 2024
Coinbase launched Base in August last year, joining the growing number of Ethereum Layer 2 networks. A month later, it hit 1.88 million transactions, beating established L2s like Optimism and Arbitrum, pushed by decentralized social media. Its total value locked stands at $372 million, ranking 11th in the market, ahead of established players like Cardano. The TVL has, however, dipped 18% in the past month.
Chainlink’s LINK token has struggled since the year started after tripling its price last year to hit a yearly high at $17. In the past month, it has lost 8.5% to trade at $14.3 at press time.
