Band Protocol Strategically Partners With Waves To Power DeFi & Web 3.0 Applications
Band Protocol has strategically partnered with Waves Platform, an open blockchain protocol and development toolset for Web 3.0 applications and decentralized solutions in DeFi, gaming, identity, DAOs, voting, and more. Both teams have been working together to integrate Band Protocol’s decentralized and customizable oracles having completed bridge implementation and work with various Web 3.0 applications in the Waves ecosystem.
Developers, enterprises, and many other ecosystem players on Waves can permissionlessly utilize Band Protocol to connect to any external data source or API using BandChain’s customizable oracle script that is built for flexibility, modularity, and scalability.
The following price pairs are available to be read from the BandChain bridge contract BTC/USD, ETH/USD, WAVES/USD which are automatically updated every 5 minutes. In addition to the data native to the Waves blockchain, developers are also able to create custom oracle scripts of their choice on BandChain — creating a decentralized oracle supporting any type of data from external data sources and APIs.
“Waves aspires to provide the tools to build cutting edge solutions that solve existing implementations issues in the blockchain ecosystem, most notably these include scalability and security. In combination with Band Protocol’s decentralized oracle network that offers end-to-end flexibility for developers, near-instant finality, and fractional data request fees, we’re enabling the creation of next-generation applications that has never been seen before.”
Sasha Ivanov, Founder of Waves
Launching Mainnet in 2017 and completing smart contract implementation in 2018, Waves is a one-stop-shop supporting the backend of any Web 3.0 service or decentralized application. Waves offers numerous advantages for scalability through their developer-friendly programming language RIDE such as formal verification, no gas requirements, and flat fees.
“Band Protocol has been working in-hand with the Waves team to secure the bridge from decentralized applications to external data sources and APIs, growing both project ecosystems towards adoption driven by security and scalability. We are always proud to deeply support leading blockchain platforms that face the oracle problem and require a scalable real-time solution.”
Soravis Srinawakoon, CEO & Co-Founder of Band Protocol
As strategic partners, both teams will work towards a common mission of securing smart contracts and decentralized applications in the Waves ecosystem through reliable, low-cost, scalable, and easy-to-integrate oracles provided by Band Protocol.
About Waves Platform
Waves protocol is an open blockchain environment for DeFi applications and other dApp cases, combining both security and high transaction speeds for a wide range of on-chain operations and featuring a community-driven monetary policy.
Waves supports development of dApps of any kind thanks to the protocol’s purpose-designed programming language, Ride. Ride offers formal verification with flat fees and no gas, resulting in low and predictable operating costs and a zero failure rate for transactions.
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About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
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