BAND’s Band protocol sees huge growth after major oracle integration and the Coinbase Pro listing, which reflected in its soaring price as we are reading more in the latest altcoin news today.
Band Protocol sees tremendous growth in the past few months as the latest integration secured by the protocol is with Elrond, the blockchain platform which will now be using Band oracles to provide data streams and improved scalability to the ecosystem. The goal of the partnership is to make decentralized applications existing within the Elrond ecosystem and to make them even more reliable and secure. Both of the projects are working closely together to complete the BandChain bride implementation.
Mon, Aug 10, our BAND-USD, BAND-BTC, BAND-EUR & BAND-GBP order books will enter transfer-only mode, accepting inbound transfers of BAND in supported regions. Orders cannot be placed or filled. Trading will begin on/after 9AM PT the following day, if liquidity conditions are met.
— Coinbase Pro (@CoinbasePro) August 5, 2020
The investors reacted positively to the news and sent the BAND token price shooting up to new, fresh all-time highs. As it continues to secure more integrations, the price will continue to climb higher. According to a new blog post on Medium, BAND announced the newly secured integration with Elrond. In addition to improving scalability and efficiency of applications within the Elrond ecosystem, Band Protocol’s oracle network will help speed up wider adoption of decentralized finance according to the CEO of the platform Beniamin Mincu:
“Cross-chain data availability will accelerate DeFi and wider decentralized applications being built on Elrond, while off-chain data will open the door for a multitude of potent business applications.”
He further explained that the Elrond team was impressed by the functionality of Band’s oracles which make it the obvious solutions for the developer team:
“We’re impressed by the capabilities of the Band Protocol team as well as the increased security and scalability of their oracles — making it an obvious oracle solution for Elrond developers who are building with focus on scalability.”
The integration will help the developer’s leverage Band’s oracles to connect off-chain data sources into smart contracts while also eliminating the high costs and delayed data streams by the other blockchain oracles.
The integration allows developers to leverage Band’s oracles to bridge off-chain data sources into smart contracts, while also eliminating high costs and delayed data streams provided by native blockchain-based oracles. BAND is one of the best performing DeFi related tokens in 2020 which posted huge gains and secured a market capitalization of over $11 million. Because it has reached the point where its utility and utilization are key for future growth, the investors are reacting positively to the news.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]