The Coinbase Oracle is not competing with Chainlink

This is just signed price data from a single exchange

It still needs to be aggregated with other data sources, incentivised to be brought on-chain, and a network of decentralized nodes to deliver it reliably https://twitter.com/coinbase/status/1253337999300943876">https://twitter.com/coinbase/...

"Starting today, anyone can use the Coinbase Oracle API to get signed price data for BTC-USD and ETH-USD markets"

Data sources don& #39;t compete with decentralized oracle frameworks, they compliment them https://twitter.com/finrekt/status/1253359532719460352?s=20">https://twitter.com/finrekt/s...

"The payload returned by the API is designed to be compatible with the Open Oracle — a set of Ethereum smart contracts that the @CompoundFinance team developed and open-sourced to facilitate standardization and interoperability between different sources of oracle price data."

Price feeds are a single subset of Chainlink& #39;s capabilities

To think the Coinbase& #39;s signed price feed is competing with Chainlink is like thinking YouTube competes with it& #39;s video creators or that the military competes with gun manufacturers

It& #39;s mutualistic for both

It& #39;s also important to note that pulling price data from a single exchange is not enough

You need to pull price data from ALL exchanges, centralized and decentralized, and aggregate them to get a market wide view creating a price feed that is as tamper-resistant as possible

The fact that a major blockchain institution just signaled the importance of oracles in DeFi is incredibly bullish for the oracle space as a whole, particularly for the industry leading oracle framework @Chainlink who can use this signed data as an additional source of price data