ecosystem: News of Band Protocol (BAND) - July 2024 Price Update - 7% Breakout Crypto News and Analysis

Cute, funny and a little bit crazy!!!

Explore the Core.

Band Protocol is a cross-chain data oracle platform that is able to take real-world data and supply it to on-chain applications, while also connecting APIs to smart-contracts to facilitate the exchange of information between on-chain and off-chain data sources. By supplying reputable, verifiable real-world data to blockchains, Band Protocol unlocks a range of new use cases for developers to explore — since they can now use any type of real-world data as part of their decentralized application (DApp) logic, including sports, weather, random numbers, price feed data and more. Band Protocol initially launched as an ERC-20 project on the Ethereum blockchain in September 2019, but transitioned to the Cosmos network in June 2020 with the release of Band Protocol 2.0. The new protocol is built on BandChain using the Cosmos SDK. Oracle nodes on BandChain not only relay data but are also involved in block production/validation, giving them a dual role. BAND is the native token of the Band Protocol ecosystem and is used as collateral by validators involved in fulfilling data requests, as well as the main medium of exchange on BandChain — being used to paying for private data.

Spot the Main Event:

Band Protocol x Cronos zkEVM: Streamlining Developer's Environment and Tools for Zero-Knowledge Proof Ecosystem. Band protocol are pleased to share the integration of Band Oracle on the cronos chain zkEVM testnet. This milestone underscores their dedication to enhancing blockchain infrastructure and making reliable data accessible to everyone. This integration on the zkEVM testnet marks a significant milestone in their shared mission to innovate and expand blockchain capabilities. By combining their strengths, the team aim to provide developers with the tools to build efficient, secure, and scalable decentralized applications. The integration of Band Protocol with Cronos zkEVM represents a continued expansion of our oracle services into the zk-based ecosystem. Building on the prior experiences with zk-based chains, this implementation enhances data integrity and reliability for Cronos zkEVM while providing them with further insights to refine and expand Band Price Feed's compatibility with other zk chains. Accurate and timely data is crucial for executing smart contracts, particularly in DeFi applications where financial transactions depend on precise information. Additionally, the scalability and cost-efficiency offered by zkEVM allow developers to build more efficient dApps without compromising security or performance. This integration reinforces band protocol's commitment to support a robust and trustworthy decentralized ecosystem, leveraging our expertise to benefit a wider range of ZK-based platforms.

Student, Crypto Enthusiast

Explore the Core.

Band Protocol is a decentralized oracle project that connects the world’s data to the blockchain ecosystem. It uses a public blockchain — dubbed the BandChain — which allows any entity to request data from application programming interfaces (APIs) or other traditional web services. Band Protocol’s main focal points are speed and scalability, cross-chain compatibility, and data flexibility. Band Protocol seeks to provide reliable data to a wide variety of public blockchains — with response times measured in seconds.

Spot the Main Event:

A series of partnerships announced by the band protocol has seen sustained interest in the Band ecosystem, attracting new investors, resulting in increased liquidity flow into the platform. These partnerships are an important part of the Band Protocol vision of fostering an interoperable Blockchain network, and promoting inter Blockchain communication.

Professional Author and Crypto Trader

Explore the Core.

Band Protocol is a cross-chain data oracle platform that is able to take real-world data and supply it to on-chain applications, while also connecting APIs to smart-contracts to facilitate the exchange of information between on-chain and off-chain data sources. The project first launched on the Ethereum Blockchain network but later moved on to the Cosmos ecosystem in the year 2020. They have been able to launch their own network through the Cosmos SDK.

Spot the Main Event:

The major reason for the current increase in the price of the token is the fact that they have been doing well to push out updates for the project, the major ones include: *Onboarding more dApps *Introducing #bandvrf to Cronos ecosystem *Mainnet integration of Band Oracle on Cronos zkEVM This would make crypto users and investors bullish about the project, thereby making them decide to invest in their token.

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