- It will become the node operator for the Chainlink ecosystem
- They have previously launched nodes on Aptos, Ethereum, Flow, Solana and Algorand
- This will benefit decentralization and oracle protection
Coinbase Cloud will become the node operator for Oracle Chainlink (LINK).
This is an important step towards increasing the security of smart contracts.
And not just for Coinbase, but for the entire Web3 world, as Chainlink plays a key role in connecting Web3 to real data via Oracle decentralized networks.
For more on what oracles are, read our piece: “Blockchain oracles – what are they, how do they work and why are they needed?”
There is a comment from Coinbase Cloud group product manager Kai Zhao:
“We are very pleased to contribute to the decentralization and reliability of data sources that serve many players in the core ecosystem.”
Chainlink Labs representative William Reilly also responded to the news.
He believes Coinbase’s extensive experience and high security standards make it a valuable addition to the Chainlink ecosystem.
Today, Coinbase Cloud manages nodes on various blockchain networks, including Aptos, Ethereum, Flow, Solana and Algorand.
The partnership with Chainlink strengthens Coinbase Cloud’s position as a major player in the Web3 universe.
With the integration of the Chainlink node, Coinbase has joined the list of well-known brands making significant investments in Web3 infrastructure.
For example, Amazon and Deutsche Telekom already offer similar infrastructure through their subsidiaries.