Coinbase Cloud, a service arm of Coinbase, the largest US cryptocurrency exchange, will operate as a node operator on the Chainlink (LINK) network, which provides real-world data to blockchains.
Chainlik said in a statement that Coinbase Cloud will become a node operator in the Chainlink system, adding capacity and security to the network.
Chainlink node operators are an integral part of the network and are responsible for connecting smart contracts on different blockchains to data and systems.
Chainlink node operators include telecom giants Swisscom, Deutsche Telekom, and the Associated Press.
Chainlink has provided 974 data streams and $7.8 trillion worth of transactions since the start of 2022, according to data published on its website.
William Reilly, Global Head of CeFi, Sales and Strategy at Chainlink Labs, said that Coinbase Cloud will add experience and robust infrastructure to the Chainlink network, which will benefit a broad spectrum of Web3 products, services and applications:
“The participation of Coinbase Cloud in the Chainlink network will undoubtedly contribute to the advancement of decentralized applications and take the blockchain industry to new heights.”
Kai Zhao, product manager for the Coinbase Cloud group, emphasized the importance of node operators ensuring the security and reliability of smart contracts, saying, "By building decentralized Oracles, we are helping to create a more decentralized and reliable future for blockchain technology. We believe onchain is the next online and We look forward to working with Chainlink to advance this future.” said.
Coinbase Cloud currently serves as a node operator on a number of leading blockchains, including Ethereum (ETH), Solana (SOL), Algorand (ALGO), and Aptos (APT).
After the Coinbase Cloud and Chainlink partnership, it was observed that there was no movement in the LINK price.
*Not investment advice.