Band Protocol Brings Standardized Data to Cronos

Band Protocol's unique oracle solution is now officially deployed on the mainnet of Cronos, the blockchain fully backed by the Crypto.com exchange.

By
Nick S.
on
June 23, 2022
Category:
DeFi

Band Protocol is Live on Cronos

Data management and oracle provider Band Protocol has officially launched on the Cronos mainnet.

Band Protocol will strengthen the rapidly growing and expanding Cronos ecosystem through this partnership by providing a complete, reliable external price data feed for decentralized developers.

“Cronos is the L1 EVM blockchain-powered by crypto.com and CRO tokens interact with both the Ethereum and Cosmos ecosystems, and aim to scale Web3 by providing builders with the ability to instantly transfer crypto assets and applications from other chains with low cost and high throughput” Band Protocol said.

Band Protocol’s scalable oracle solution can guarantee developers on the Cronos network. Investors entering the DeFi space can rely on a quick and accurate list of a growing price feed for crypto assets, commodities, and forex from the Band Standard Dataset. 

The Band Standards Dataset now promises to provide dApp developers with more creativity, agility, and flexibility when developing and launching dApps on the Cronos blockchain network. Band Protocol's end-to-end customization allows developers the space to tailor specific dApp requirements so that the dApp can operate more efficiently and reliably.

The number of Band Standard Dataset integrations on mainnet that have secured real value in smart contracts has rapidly grown to more than 25 partners. Other collaborators are working behind the scenes with Band Protocol's team in a new environment test field. Out of the 4.9 million oracle requests on the BandChain Mainnet, the Band's Standard Dataset accounts for 2.8 million requests, making it popular, extensive, and regularly updated.

Web3Wire reached out to Band Protocol to comment on the deployment and is awaiting a response from the team.

What is Band Protocol:

Band Protocol (BAND) is a blockchain project in data management. It is a Web 3.0 layer that addresses data, reliability, and quality issues of data information for Web 3.0 applications. Inside the Band protocol, they use Band's public Smart Contracts to allow interoperable data without going through oracles outside the blockchain.

Where to find Band Protocol:

Website | Twitter | Telegram

What is Cronos:

Live since November 2021, Cronos positions itself as an EVM-compatible chain designed to support the Creator Economy with applications such as DeFi and GameFi, ultimately serving as a foundational infrastructure for the Metaverse. 

In addition, Cronos claims they offer faster and cheaper transactions than Ethereum mainnet, making decentralized applications (dApps) and smart contracts greener and more user-friendly. Since its launch in November 2021, Cronos has been pegged within the top 10 blockchains by total value locked (More than $US 4 billion), with 25% month-on-month user growth and more than 200 dApps. 

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Tags:
Nick S.

Nick is a cryptocurrency researcher, especially interested in the Ethereum and BNB ecosystem. My portfolio is mostly BTC, ETH and BNB.

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