Coinbase Cloud plugs into Chainlink oracle network to improve smart contract reliability

May 18, 2023 Coin Telegraph

Chainlink

Chainlink’s oracle network will welcome Coinbase Cloud as a node operator to improve high-quality data provision to several blockchain protocols.

Coinbase Cloud will leverage its global infrastructure and experience managing blockchain data to bolster the security and reliability of the Chainlink blockchain oracle network.

The United States-based cryptocurrency exchange’s cloud service will operate as a new node operator on the Chainlink network in a partnership set to improve the decentralization of the Web3 ecosystem.

Coinbase Cloud’s infrastructure already services several leading blockchains, including Ethereum, Solana, Algorand and Aptos. Chainlink node operators are integral to the network and are responsible for connecting smart contracts on different blockchains to data and systems.

Chainlink creates a bridge between Web2 and Web3 by sourcing, formatting and transmitting data to smart contracts. A prime example is Chainlink’s provision of decentralized price feeds, which secures an estimated $22 billion of value locked in decentralized finance (DeFi) protocols, including Synthetix, Aave, Compound and dYdX.

Coinbase Cloud group product manager Kai Zhao highlighted the importance of node operators across the cryptocurrency ecosystem, ensuring the security and reliability of smart contracts:

“By building decentralized Oracles, we are helping to create a more decentralized and trustworthy future for blockchain technology. We believe on-chain is the next online, and we look forward to working with Chainlink to further this future.“

Chainlink Labs global head of centralized finance, sales and strategy, William Reilly, added that the latest node operator would add experience and robust infrastructure to the oracle network, benefitting a wide range of Web3 products, services and applications:

“Their [Coinbase Cloud] involvement will undoubtedly contribute to the advancement of decentralized applications, further propelling the blockchain industry to new heights.“

Coinbase signaled its intent to become a central pillar in the wider Web3 ecosystem in 2021, with Coinbase chief product officer Surojit Chatterjee highlighting its ambition to become the Amazon Web Services of the crypto industry.

Coinbase Cloud is central to this gambit, with its suite of products powering a number of services across the ecosystem. The service emerged from Coinbase’s acquisition of blockchain infrastructure provider Bison Trails in early 2021.

Coinbase Cloud’s Node platform allows users to create and manage Web3 applications, while the firm also launched its own Ethereum layer-2 network called Base in February 2022.

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Coinbase Cloud launches platform for web3 developers

September 21, 2022 Coinbase

Starting today, developers have free and instant blockchain API access with Node by Coinbase Cloud

TL;DR: Coinbase Cloud enables web3 developers to build their web3 applications with instant and reliable read/write blockchain access using Node.

By Luv Kothari, Group Product Manager, Coinbase Cloud; Sriram Raman, Product Manager, Coinbase Cloud

Web3 development is complex. One needs to learn new programming languages, blockchain technologies, and on top of that, there are many protocols to support. Coinbase Cloud is committed to helping Web3 developers do what they do best… BUIDL. That’s why we’re taking our experience developing Web3 products for DeFi, staking and blockchain infrastructure and making this technology accessible for free to developers around the world, starting with the launch of Node.

Node empowers developers to build and monitor their Web3 applications from an easy-to-use platform with instant read/write access to blockchains and powerful data indexers to speed up responses.

Node, formerly known as Query & Transact, has been serving dedicated, paid nodes to enterprises for read/write access to 25+ blockchains since 2020.

Since then, we’ve been listening to the developer community and heard a demand for a developer version of Node. Which is why we are launching a free plan for developers building on Ethereum, providing self-serve and instant accessibility to blockchain nodes via API. Additionally, we are launching new Advanced APIs to simplify querying the blockchain and powerful new NFT APIs to developers around the world.

Available with Node

Node developer platform provides self-serve API access credentials, metrics dashboards to monitor and manage web3 projects, and developer resources to get started with web3 development.

Build faster: Build and launch your Web3 application in minutes with Node instant API access.
Reduce costs & complexity: Save on upfront costs and scale seamlessly as your usage needs grow. Node allows you to focus on your products and customers leaving the hard bits of scaling blockchain infrastructure to us.
Rely on trusted services: Build your product with peace of mind, relying on enterprise-grade security and high availability infrastructure.
Advanced APIs: Abstract away the complexities of building on the blockchain with aggregated and filtered data in one API call. Easy-to-use queries provide comprehensive data for balances, transfers, and smart contract events.
NFT API: Build your NFT app with a few lines of code. Get the answers you need to the most critical NFT questions including data about collections, user transactions, and tokens.
120K daily requests: Intended to be enough to reach meaningful adoption without incurring upfront costs for infrastructure*. If you need more capacity you can upgrade to another available plan.

Node is available starting today around the world. We believe the most exciting projects in web3 are on the horizon and we can’t wait to see what the community builds! Get started for free.

Coinbase Cloud

Coinbase Cloud makes it simple to build dapps. In addition to shared and dedicated nodes, Coinbase Cloud offers a fiat on-ramp with Pay SDK, trading APIs, Wallet SDK, and more. Our vision is to provide everything devs need to quickly, easily, and securely build amazing web3 apps.

Get started with Node on Coinbase Cloud or check out the developer documentation for more information.

*This is not a guarantee. Needs may vary significantly on a case-by-case basis.

Features and services may vary depending on the selected plan, and some plans may be subject to subscription fees and/or additional fees, costs or customized pricing.

Legalese/Disclaimers

This document and the information contained herein is not a recommendation or endorsement of any digital asset, protocol, network, or project. However, Coinbase may have, or may in the future have, a significant financial interest in, and may receive compensation for services related to one or more of the digital assets, protocols, networks, entities, projects, and/or ventures discussed herein. The risk of loss in cryptocurrency, including staking, can be substantial and nothing herein is intended to be a guarantee against the possibility of loss.

This document and the content contained herein are based on information which is believed to be reliable and has been obtained from sources believed to be reliable, but Coinbase makes no representation or warranty, express, or implied, as to the fairness, accuracy, adequacy, reasonableness, or completeness of such information, and, without limiting the foregoing or anything else in this disclaimer, all information provided herein is subject to modification by the underlying protocol network.

Any use of Coinbase’s services may be contingent on completion of Coinbase’s onboarding process and is Coinbase’s sole discretion, including entrance into applicable legal documentation and will be, at all times, subject to and governed by Coinbase’s policies, including without limitation, its terms of service and privacy policy, as may be amended from time to time.

Coinbase Cloud launches platform for web3 developers was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Coinbase Cloud launches Solana Archival Nodes to empower the Solana developer community

September 1, 2022 Coinbase

by Coinbase Cloud team

Coinbase Cloud’s Solana Archival Nodes can examine historical address balances, run complex queries, and simulate the blockchain state at any given point in the chain’s history.

Coinbase Cloud previously launched secure, dedicated Solana infrastructure nodes via Query & Transact, allowing builders to access and verify data and transaction information from the Solana blockchain.

Today, Coinbase Cloud is expanding that offering with the launch of Solana Archival Nodes. Managing archival nodes in a scalable way is technically challenging due to Solana’s high throughput design (~2–3 blocks/sec) and large data footprint (~100TB for all historical data).

We’re excited about helping to empower developers to build better products and services that contribute to the growth of the Solana community!

Solana Archival Node Highlights:

Built for builders: Solana builders can let Coinbase Cloud do the heavy lifting and access the archival data they need.
Built with Solana expertise: Coinbase Cloud’s Solana archival node infrastructure is built with deep understanding of the Solana network. We operated one of the first validators on Solana on the Tour de Sol testnet, and have since been running validator and read/write node infrastructure.
Cloud-based, reliable infrastructure: Coinbase Cloud’s multi-cloud, multi-region infrastructure is architected to minimize downtime risk, and let you access data without skipping a beat.
Security-first: Coinbase Cloud’s infrastructure is built to meet or exceed the security needs of highly regulated institutions.
Designated support: Our engineers and customer success team are ready to assist you in managing your infrastructure.

Solana: a high-performance blockchain

Solana is an open source, high-performance, permissionless blockchain that uses highly scalable technology to prioritize transaction throughput, the ability to process a large number of transactions in a short span of time. Solana is currently able to process more than 50,000 transactions per second.

Secure, reliable, and easy-to-use infrastructure is critical for the continued flourishing of the Solana ecosystem. Solana’s high throughput capacity is well-suited for many use cases including trading. The high throughput capacity also requires expertise in developer operations and hardware selection to run a performant node. Nodes require powerful hardware, extremely high bandwidth, and significant protocol expertise to manage participation.

Coinbase Cloud has collaborated closely with the Solana team to support the network as it is growing and scaling securely. We operated one of the first nodes in Tour de Sol, Solana’s incentivized testnet. Since mainnet beta launch, we have helped our clients manage the complexity of participation with secure, tested validator infrastructure run by seasoned protocol engineers and specialists.

Now, we are expanding our Solana offerings to include our Solana Archival Nodes to empower developers interested in building on the blockchain.

Solana Query & Transact: run reliable, secure read/write nodes to build applications and services

With Query & Transact, developers interested in building on Solana can easily run read/write nodes, access data from the blockchain, and build applications and services that connect to Solana.

Even for highly technical teams, running nodes can be an expensive, time-consuming process. It requires strong protocol expertise, staying up-to-date with the latest network changes, and scaling infrastructure to manage potential changes in throughput. These demands are particularly true for Solana read/write infrastructure, given the higher throughput capacity than other protocols.

Coinbase Cloud’s Solana Query & Transact alleviates this challenge and makes it easier to build on Solana. Developers and enterprises interested in building applications and services connected to the Solana network can easily manage their infrastructure from a single platform, and quickly scale their infrastructure based on changing throughput requirements.

Why run Solana Archival Nodes with Coinbase Cloud?

We are infrastructure experts with a deep understanding of the Solana network. With Solana Archival Nodes running on Query & Transact read/write infrastructure, you can focus on your product and customers instead of core node infrastructure.

High uptime: Our Query & Transact read/write nodes are built on multi-region cloud infrastructure, with 99.9% uptime guarantee.*
Easy-to-use platform: We make participation and building on blockchains simple, including more complex networks like Solana. You can manage your node infrastructure easily from a single dashboard.
Dedicated support: Our engineers and customer success team are ready to assist you in managing your infrastructure.

Get in touch with us about our Solana products:

Solana Participate (staking infrastructure): Secure validator infrastructure to participate in the Solana network.
Solana Query & Transact (read/write infrastructure): Read/write infrastructure to access data from the Solana network, verify information and transactions, and build products and services that run on Solana.

*subject to the terms and conditions set forth in our SLA, some exceptions apply

Disclaimers

Coinbase Cloud launches Solana Archival Nodes to empower the Solana developer community was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Enterprise-grade Liquid Staking Standard with Support of Coinbase Cloud and Figment

May 17, 2022 Coinbase

Tl;dr: Enterprise-grade liquid staking is an industry gap. The first-ever enterprise-grade liquid staking protocol is being launched by a highly experienced team of founders, with early support from Coinbase Cloud and Figment.

We couldn’t be more excited to announce that Coinbase Cloud, in collaboration with Figment, is supporting a group of experienced founders and operators who are building the first enterprise-grade liquid staking protocol.

The founding team of Alluvial, the software development firm developing the new protocol, is led by Matt Leisinger, former Head of Liquid Staking products at Figment; Nicolas Maurice, the former CTO of Kiln staking-as-a-service platform, and Mike Taormina, former Head of Institutional Business at the Index Cooperative, a decentralized community powering on-chain crypto structured products. Alluvial’s vision is to grow the protocol — and the ecosystem at large — by building standards that are open, transparent, and incentive aligned, and move towards a community-governed future. Alluvial intends for the protocol to ultimately be governed in a decentralized manner by a DAO with broad industry participation.

Liquidity is a critical component of a maturing web3 economy and we are excited to be a part of a group of industry leaders tackling one of the most rapidly growing yet nascent segments of the market together: liquid staking.

Liquid staking opens up opportunities to efficiently utilize staked assets as collateral to trade, lend, and provision quickly and strategically. Staking requires assets to be locked to use as collateral to support network security in return for earning rewards. Traditionally, staked tokens remain locked and inaccessible while staked and are subject to “warm up” and “unbonding” periods.

With liquid staking, token holders don’t need to choose between staking, and accessing their assets to pursue other opportunities. They can stake their tokens, receive back receipt tokens that evidence ownership of their staked tokens and use those receipt tokens to participate in the broader web3 economy. Liquidity is key to unlock the next chapter of financial innovation in web3.

In just under a year, in Ethereum alone, liquid staking has gone from sub-1% penetration in January 2021 to around over 30% penetration. More and more enterprises and institutions are looking to participate in liquid staking every day. However, today’s solutions don’t meet their needs. Mature and regulated businesses need to know their counterparties and require enterprise-grade reliability, security, and KYC / AML processes.

Alluvial seeks to tackle this industry gap by creating the industry standard for enterprise-grade liquid staking across multiple protocols. The non-custodial protocol will require all contributors to enable embedded KYC/AML checks, allowing enterprises and institutions to meet their compliance standards while enabling seamless integration into their existing technology stack. We are proud to support the Alluvial founding team as they work to build and scale the protocol.

As part of the initial validator set, Coinbase Cloud and Figment intend to each perform staking services on the network, and run validators with distinct clients in different regions and cloud providers, with other industry-leading operators joining soon. Client diversity and multi-cloud/multi-region infrastructure will provide enterprises and institutions with the high uptime and reliability that they are looking for. Over time, new security focused validator operators will be added to the protocol to help it grow and scale further.

We are looking forward to supporting Alluvial’s experienced founding team, other industry leaders and the community at large to bring this initiative to life over the coming year. We aim to support the growth of the protocol by working with more builders, participants, and validators across the ecosystem. If you are an enterprise or institution looking to explore the world of liquid staking, or an ecosystem system partner looking to build on the protocol, get in touch with the Coinbase Cloud team.

Enterprise-grade Liquid Staking Standard with Support of Coinbase Cloud and Figment was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Coinbase Cloud launches Avalanche developer tools suite

March 23, 2022 Coin Telegraph

Avalanche Bridge

The Avalanche ecosystem stands to gain from three tremendous developments announced this week with Coinbase Cloud’s integration, BTC support, and UST trading.

Web3 developer hub Coinbase Cloud has added a suite of tools to support development on the Avalanche blockchain and smart contract platform.

As part of the new support features, Coinbase Cloud is running an Avalanche (AVAX) public validator node. This allows Avalanche network participants to stake their AVAX tokens with Coinbase Cloud and delegate power for validating transactions on the blockchain.

.@coinbasecloud is committed to supporting our #AVAX builders and participants. #Avalanche #AvalancheRush

Find out more https://t.co/bthhKDrxDz pic.twitter.com/vggilAhFQk
— Coinbase Cloud (@CoinbaseCloud) March 22, 2022

Ethereum Virtual Machine (EVM) compatibility enables a network to benefit from the security of the Ethereum (ETH) network. Tokens on EVM compatible chains can also be bridged seamlessly between each other.

There is also an AVAX integration with Coinbase Wallet, the crypto exchange’s proprietary Web3-enabled digital asset wallet. It will also provide developers with the documentation needed to deploy applications on the Avalanche network. Coinbase Wallet added support for Solana (SOL) last week.

Coinbase Cloud will improve the Query and Transact feature for its users. This feature allows developers to more easily find, interact with, and study portions of the code that make up the Avalanche network. Coinbase Cloud believes that by providing such access, developers can “configure who can access the node infrastructure, and distribute their nodes across four geographic regions and two cloud providers” with limited downtime.

Coinbase Cloud is a Web3 developer support platform from the Coinbase crypto exchange that launched last October.

In addition to Coinbase Cloud’s latest contributions to the AVAX ecosystem, Avalanche has also begun rolling out its support for the Bitcoin (BTC) network through the Avalanche Bridge. Full support is expected to be completed in Q2 of this year.

DeFi on Avalanche is about to get a whole lot more orange. pic.twitter.com/9KwTwmkySD
— ./kevinsekniqi good vibes only (@kevinsekniqi) March 22, 2022

This will enable BTC holders to transfer their coins onto the Avalanche network and participate in decentralized finance (DeFi) activities there.

Co-founder and COO of Avalanche Kevin Sekniqi summed up the BTC integration with Avalanche in a March 23 tweet stating “DeFi on Avalanche is about to get a whole lot more orange.”

This new integration comes as the Avalanche Summit is taking place in Barcelona, Spain where, in addition to the Coinbase Wallet and Bitcoin integrations, the Terra (LUNA) team also announced that its UST stablecoin is now tradable on Avalanche. All three developments this week stand to provide more value to the Avalanche ecosystem over time through investments and new applications.

AVAX has dropped 3% over the past 24 hours and is currently down 42.3% from its Nov. 21, 2021, all-time high of $145 according to CoinGecko.

Participate and build on Avalanche with Coinbase Cloud

March 22, 2022 Coinbase

Coinbase Cloud provides web3 APIs, services, and infrastructure to power the next generation of software builders. As part of our vision to empower developers building the future of web3, we are launching a suite of blockchain infrastructure solutions and services for the growing Avalanche ecosystem.

Avalanche is a high-speed smart contract platform with near-instant finality and EVM compatibility. Developers can deploy their Ethereum applications on Avalanche’s C-Chain or deploy custom-built blockchains as a subnet. Avalanche has seen accelerated growth in 2021 since its launch in 2020, reaching new highs in active addresses, transactions, and total value locked. A number of high-profile projects such as Curve, Aave, and DeFi Kingdoms expanded into Avalanche alongside native projects like Trader Joe, BENQI, and Crabada.

Coinbase Cloud is committed to supporting the Avalanche ecosystem, making it easier and faster for developers to build innovative applications and unlock new use cases.

Secure, reliable staking infrastructure

Today, Coinbase Cloud has a public validator that lets delegators easily and securely stake their AVAX.

Validators support the continued growth and the security of the network by verifying transactions, participating in consensus, and adding blocks. By staking tokens, delegators can contribute to validators that do the important work of validating the chain.

To get started, delegators will need a minimum of 25 AVAX to stake, plus funds to cover the gas fees. Coinbase Cloud offers a step-by-step guide to delegating AVAX tokens.

Those who want to run their own dedicated validators on Avalanche will be able to do so using our Participate product. Coinbase Cloud’s staking infrastructure is built to the highest security standards and offers 99% uptime guarantee, making it easy for anyone to spin up a validator in just a few steps — no coding required.

Empowering developers to build the next big Avalanche project

Coinbase Wallet SDK empowers developers to expand their app’s reach to millions of Coinbase users, providing easy access to the Avalanche ecosystem via Coinbase Wallet. Coinbase Wallet offers users built-in fiat onramps to buy AVAX from Coinbase, providing users an easy start with Avalanche.

Coinbase Wallet offers first-class support for Avalanche C-Chain and the Fuji testnet, as well as EVM-compatible subnets, ensuring that any EVM-compatible application runs seamlessly and reliably through Coinbase Wallet. The integration can be completed in minutes, with only a few lines of code. Developers can view Coinbase Wallet SDK documentation on the Coinbase Cloud website.

In addition, we are building our Query & Transact infrastructure to empower developers to easily access data from the Avalanche blockchain. Having an easy way to access data and submit transactions is the most fundamental step to building dapps such as wallets, exchanges, data aggregators, and blockchain analytics solutions. With Query & Transact, developers have reliable read/write access to data with a 99.9% uptime guarantee.

Once available, developers can also easily customize their Query & Transact read/write infrastructure via the Coinbase Cloud web interface to meet their needs. Using our web interface, developers can configure who can access the node infrastructure, and distribute their nodes across four geographic regions and two cloud providers to serve traffic globally with low latencies.

With Query & Transact and the Wallet SDK, Avalanche developers have a comprehensive suite of solutions to build and grow their crypto products.

“We couldn’t be more excited to work with the Avalanche team to empower builders and participants. Avalanche is contributing to building a more vibrant and accessible Web3 economy, and we are looking forward to working with them to help the network grow and scale.” — Joe Lallouz, head of product at Coinbase Cloud

“We are thrilled to be working with Coinbase Cloud. The Coinbase Cloud team offers the technical expertise, security best practices, and deep understanding of protocols that will make them one of the important contributors to Avalanche. We are excited for what’s to come and to build the Web3 future with Coinbase Cloud.” — Jay Kurahashi-Sofue, VP of Marketing at Ava Labs

Connect with Coinbase Cloud at the Avalanche Summit

Builders and participants can connect with Coinbase Cloud during the Avalanche Summit. Meet our team at the Coinbase Cloud booth at the Eco-Dome. In addition, we are hosting workshops for builders interested in growing the adoption of their product via the Wallet SDK. Catch us on March 26, 6–7 pm GMT+1 for a hands-on session (see the agenda for more detail).

To discover more about Coinbase Cloud solutions and services, visit: https://www.coinbase.com/cloud

About Coinbase Cloud

Coinbase Cloud offers Web3 APIs, services and blockchain infrastructure to power the next generation of software builders. Our suite of solutions covers a breadth of key crypto primitives including data access, staking, payments, trade and exchange, identity, and more.

About Coinbase Wallet

Coinbase Wallet is a self-custody wallet providing software services subject to Coinbase Wallet Terms of Service and Privacy Policy. Coinbase Wallet is distinct from Coinbase.com, and private keys for Coinbase Wallet are stored directly by the user and not by Coinbase. Fees may apply. You do not need a Coinbase.com account to use Coinbase Wallet.

Participate and build on Avalanche with Coinbase Cloud was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Helping dapp developers reach users on any device with Coinbase Wallet

March 8, 2022 Coinbase

Expand your dapp’s reach with just a few lines of code

Byline: Sid Coelho-Prabhu, Product Management Director, Wallet

Millions of people choose Coinbase Wallet to use dapps, earn yield with DeFi, trade more than hundreds of thousands of assets, and hold their NFTs. In just minutes you can integrate Coinbase Wallet in your dapp, expanding your reach to users on all of their devices — and open your dapp up to the multichain Coinbase ecosystem of over 89M users across 85 countries, on whatever device they prefer.

Ship it faster than you can say “gm”

With just a few lines of code, you can open up access to your dapp to Coinbase Wallet users across the iOS and Android mobile apps as well as the Wallet browser extension on Chrome.

Coinbase Wallet SDK takes just 5 minutes to integrate and doesn’t require you to deploy any additional infrastructure. You can learn how to integrate with Coinbase Wallet in our technical documentation, read our post on using web3-react to connect, or watch the Coinbase Wallet SDK demo.

Built-in trust and multichain by nature

We are dedicated to making the benefits of crypto and the entire web3 ecosystem accessible to all — regardless of network or blockchain, country or currency, crypto savvy or crypto skeptical. We’re building Coinbase Wallet to reflect that commitment. With support for all EVM-compatible chains, including Avalanche, BNB Chain, Polygon, and many more, you can access millions of users for your dapp across the most popular ecosystems.

We also know that security is top-of-mind for anyone building in the web3 ecosystem. By offering integration with the most trusted and secure name in crypto, you can help put your users at ease while they explore your dapp, confident that their crypto and data are safe.

The built-in trust offered by Coinbase Wallet shows: As of February 2022 it’s the most downloaded mobile dapp wallet in the United States. Integrating your dapp with Coinbase Wallet can immediately unlock access to 12M Wallet users, with the potential to reach the full Coinbase ecosystem of over 89M users in 85 countries.

Open-sourcing Coinbase Wallet SDK

We see Coinbase Wallet SDK as a critical way to expand access to dapps, which is why we want this experience to be available to everyone in the crypto community. To make that possible, Coinbase Wallet SDK is open-source, making it available for any dapp developer that wants to integrate it into their product.

About Coinbase Wallet

Crypto is just getting started, and Coinbase Wallet is your key to what’s next. For developers, Coinbase Wallet is the best self-custody wallet to integrate with, as it’s the most trusted name in crypto and offers unparalleled reach to 89M users across the entire Coinbase ecosystem. Coinbase Wallet also offers the most user-friendly self-custody experience, unlocking the entire world of crypto, including collecting NFTs, earning yield on your crypto, accessing play-to-earn games, engaging in DeFi, participating in DAOs, and more. To learn more, visit our website.

Disclaimer:

Coinbase Wallet is a self-custody wallet providing software services subject to Coinbase Wallet Terms of Service and Privacy Policy. Coinbase Wallet is distinct from Coinbase.com, and private keys for Coinbase Wallet are stored directly by the user and not by Coinbase. Fees may apply. You do not need a Coinbase.com account to use Coinbase Wallet.

Helping dapp developers reach users on any device with Coinbase Wallet was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Coinbase Says Crypto Exchange Aims for Cloud Division To Be Blockchain’s Version of Amazon Web Services: Report

December 6, 2021 The Daily Hodl

Nearly one year in: Leading the herd at Coinbase

December 2, 2021 Coinbase

By Aaron Henshaw, Head of Coinbase Cloud Engineering

It’s no secret that crypto is gaining mainstream appeal, with the global crypto market cap reaching an all-time high of $3 trillion for the first time, the total value locked in DeFi reaching $250 billion, and 16% of Americans investing in, trading, or otherwise using cryptocurrency in the past year. A growing number of the world’s largest companies are looking to integrate crypto into their applications. Recently, we’ve seen Stripe, Square, Reddit, the NBA and others introducing crypto into their product lines with no signs of this trend slowing down. They all have one thing in common: a need for infrastructure and tools to operate and participate in the ecosystem.

Coinbase Cloud is committed to empowering current and future builders of the cryptoeconomy. Part of this will be building a platform that allows developers to access a suite of primitives like trading, storing, blockchain data access, and staking services. Our vision is to unleash a wave of innovation by offering turnkey solutions, enabling the innovators of tomorrow to do what they do best: build.

Joining Forces

In January 2021, Coinbase welcomed Bison Trails to become the foundational team and platform of Coinbase Cloud. By joining forces, we could accelerate our combined mission of creating a platform for the next wave of blockchain developers and provide a space to learn, participate, and build for the future of crypto.

As the founders of Bison Trails, Joe Lallouz and I saw this as an opportunity to build something bigger than Bison Trails and more expansive for Coinbase. Coinbase’s commitment to being crypto-first undoubtedly contributed to a seamless transition for our team.

The successful transition was also made possible by the support of the Coinbase leadership team, which has been committed to bringing blockchain infrastructure to the masses, as well as making this a great place for founders like Joe and I to continue building and realizing the vision that we set out to accomplish.

As crypto becomes ubiquitous, the products and services of the Web3 era will need to be powered by reliable and secure infrastructure. Coinbase sees this opportunity and is deeply committed to both our success and the growth of the crypto ecosystem.

The Momentum

Crypto infrastructure has been the bread and butter of Bison Trails since its founding. Its infrastructure platform and products are now the foundation of the Coinbase Cloud platform and suite of developer offerings, to equip the next generation of builders with even more powerful solutions.

We power some of the world’s top custodians, exchanges, funds, dapps and token holders. We are building an industry-leading platform for anyone to participate in blockchains (e.g. Celo Validators Groups, Polkadot Validators, eth2 Validators, including helping power Coinbase’s eth2 staking). We also provide reliable infrastructure for read/write data access, empowering the developers of tomorrow to build innovative crypto products and services, scale across blockchains, gain insights into network trends, and more. This frees our customers from having to invest time and resources into developing the necessary engineering, protocol, DevOps, or security competencies to do so reliably in-house.

We are also taking network participation to the next level by engaging deeply with protocol teams. For example, we’ve worked with Solana Foundation and the NEAR council, and supported the Keanu merger, among others.

Let’s take a look at our progress so far:

$30B+ in assets on platform¹ staked across more than 25 protocols as of November 2021
60,000+ nodes across our Participate, Delegate, and Query & Transact products
Doubling the team size, including expanding our dedicated security team
30+ protocols supported for our read/write infrastructure product, Query & Transact. This includes adding support for global distribution across three cloud providers, and multi-user API key management with rate-limiting options to our customers.
Powering features and cross-platform integrations for highly scaled Coinbase products, such as custody integrations for Institutional and eth2 staking for Retail

These metrics are crucial. They measure our impact on the communities we support. Unlike passive custody, assets that are staked are actively used to secure the underlying protocols, making Coinbase Cloud the largest protector of stake-based protocols.

Given the role we play across 30+ protocols, we’ve invested in the security and operational excellence of both our platform and the broader ecosystem. For example, our double-signing protection capability for eth2 has greatly reduced the risk to our platform users of any equivocation or double signing events. It’s for these reasons that companies and ecosystem players like a16z, Current, and Turner Sports have chosen to work with Coinbase Cloud.

Trevor Marshall, CTO of Current, says “the secure, reliable infrastructure and network expertise Bison Trails (Coinbase Cloud) provides has been invaluable to making it possible for Current to be an early, active participant in Polkadot, Karura and Acala and build hybrid financial products that have the potential to improve the financial outcomes of even more people.”

Up Next

We are now preparing for the next phase. We see a future world where every developer, whether part of an early stage project or a leading financial institution, is in some way touching crypto networks. Coinbase Cloud will provide the tools and the platform they need to do that. Our mission is to empower the innovators and help accelerate the Web3 evolution. This is where the world of software is going and we’re excited to lead the herd.

¹The Bison Trails platform is non-custodial.

Nearly one year in: Leading the herd at Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

coinbase-cloud