2key Network and Band Protocol have entered a comprehensive technical and business collaboration. 2key Network’s Smart Link technology will become a part of the Band Protocol ecosystem and Band Protocol’s decentralized data feeds will be integrated into 2key Network. Additionally, Band Protocol will be a vendor among the 2key ecosystem integrators.
Introduction to Band Protocol
Band Protocol is a Web 3.0 framework that allows decentralized developments to access on-chain data to operate smart contracts. The data is sourced from trusted, community-voted data providers working in partnership with Band Protocol.
Band Protocol recently launched its main-net and have launched a financial dataset (XFN) which dApp developers are able to integrate critical price information with just 4 lines of code. The project is on track to release an event/sports dataset to support gaming and prediction markets in Q4 and a formal identity dataset in Q1 2020. Band Protocol enables eased access to multi-source, on-chain data while sustaining the ethos of decentralized blockchain-enabled developments.
2key Network x Band Protocol
2key Network and Band Protocol are going to collaborate on a number of operations.
On a technical standpoint, 2key Network’s smart contracts will use Band Protocol for a decentralized, on-chain price feed. This will play an important role in the hedging mechanisms conducted by 2key’s exchange contract. Additionally, Band Protocol will also facilitate 2key Network with oracles to validate off-chain conversions.
On the flip side, 2key Network’s Smart Links will be deployed as one of the means for sourcing data curators on Band Protocol. The Band community will have the opportunity to source qualified data curators and receive a portion, as a conversion reward, of the data fees collected by the curator.
In terms of business collaboration, Band Protocol will also be one of the vendors among 2key Network’s ecosystem integrators. The various on-chain data-feeds provided by Band will be accessible to campaign contractors. One of the prominent examples would be the opportunity for contractors to use a decentralized source for identification data in conversions that require KYC and AML checks.
Click a Smart Link. Join the decentralized web.
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