• Chainlink, a blockchain data provider, announced that Coinbase Cloud will become a node operator on its system.
• Node operators monitor blockchains for data requests and deliver the information to the smart contract which issued the request.
• Other node operators include Swisscom, Deutsche Telekom, and Associated Press.
Chainlink Announces Coinbase Cloud as Node Operator
Chainlink, a provider of real-world data to blockchains, has announced that infrastructure provider Coinbase Cloud will become a node operator on its system. This addition is intended to add capacity and security to the oracle network by providing extensive experience, robust infrastructure and commitment to security.
What is a Node Operator?
Node operators are responsible for monitoring blockchains for data requests such as stock prices and temperature data. They then retrieve this off-chain information and deliver it to the smart contract that issued the request. Chainlink currently supplies 974 data feeds which have enabled $7.8 trillion worth of transactions since 2022 according to their website.
Other Node Operators
In addition to Coinbase Cloud, other node operators include telecoms giants Swisscom, Deutsche Telekom and news provider Associated Press who are also key players in supporting Chainlink’s network security.
Uses of Chainlink
Chainlink can be used in many different ways but most prominently it allows users access to external sources of real-world information from within their contracts by creating secure connections between blockchain networks and these external sources. It can also help with cross chain interoperability allowing different types of blockchain networks (such as Ethereum or Bitcoin) to connect with each other securely.
The integration of Coinbase Cloud as a node operator for Chainlink further strengthens the platform’s security infrastructure while expanding its capabilities for connecting users with off-chain sources of real world data within their contracts securely across multiple blockchain networks.