Coinbase Cloud Joins Chainlink as Node Operator to Bolster Security

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

Chainlink, a provider of real-world data to blockchains, said infrastructure provider Coinbase Cloud will become a node operator on its system, adding capacity and security to the so-called oracle network, according to a Thursday press release.

A node operator monitors blockchains for data requests such as stock prices and temperature data, retrieves the off-chain information and delivers it to the smart contract that issued the request.

Other Chainlink node operators include telecoms giants Swisscom, Deutsche Telekom and news provider Associated Press.

Chainlink supplies 974 data feeds and has enabled $7.8 trillion worth of transactions since the start of 2022 according to data from its website.

Coinbase Cloud brings “extensive experience, robust infrastructure and commitment to security,” William Reilly, global head of CeFi, sales & strategy at Chainlink Labs said in the press release.

Edited by Sheldon Reback and Parikshit Mishra.

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