Unlocking Coinbase’s Potential: The Game-Changing Impact of Chainlink Automation

Despite achieving rapid success, Base, the Coinbase-incubated Ethereum Layer 2, is not slowing development efforts. On Tuesday, January 23, the network integrated Chainlink Automation, promising to allow developers to explore advanced use cases for their DApps at a lower cost.

Unlocking the Next Generation of DApps on Base
Chainlink Automation is a service that allows developers to offload tasks requiring high computational power to the Chainlink Network, where they can be processed at lower fees. In the case of Base, developers estimate that this fee reduction would be about 90%.

With greater computing power at low costs, Base developers believe that projects building on the network would be able to explore more advanced use cases than were previously possible on the network before the integration.

“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,” Base developer Jesse Pollak wrote in a statement.

Chainlink Automation is the third Chainlink product that Base now supports, in addition to the Cross-Chain Interoperability Protocol (CCIP) and Data Feeds. It marks the latest step the network has taken in its goal of bootstrapping the adoption of Layer 2 chains. In addition to allowing more advanced applications, Base intends to make ultra-fast and cheap transactions on the blockchain a reality.

Can Base Become the Broadband Blockchain?
Coinbase CEO Brian Armstrong has asserted that Base aims to achieve one-second transaction speeds costing an average of one cent. While this seems like a far-flung dream, Armstrong maintains that the network is committed to achieving this dream through continuous improvements.

Backed by Coinbase, Base has been an instant sensation since it burst onto the scene in August 2023. The network is the fourth largest Ethereum Layer 2 by TVL with $689 million, according to L2Beat data at the time of writing.

On the Flipside
Base faces stiff competition from projects like Arbitrum, the largest Ethereum Layer 2 by TVL.
Unlike the competition, Base has refused to launch a native token.

Why This Matters
Base is the fourth largest Ethereum Layer 2 chain by TVL. The recent Chainlink Automation integration promises to unlock the development of more advanced solutions on the network, further heating up the competition within the Layer 2 space.

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