Band Protocol’s decentralized data oracle to be integrated with TomoChain
We are happy to announce that Band Protocol’s data oracle platform will be integrated into TomoChain so decentralized applications (dApps) built on yet another blockchain can utilise our trusted data feed.
TomoChain is a compelling blockchain for developers seeking to build new decentralized applications that balance fast transaction speeds without compromising on decentralisation. Its governance model incentivises token-holders to participate in staking and relies on a system of 150 Masternodes with Proof of Stake Voting (PoSV) consensus that can support near-zero fees and 2-second transaction confirmation times. What this means:
1. Band Protocol will be integrated into another blockchain — TomoChain with a strong focus for enterprise adoption
Integrating Band Protocol’s data oracle platform into TomoChain will enable faster, easier-to-integrate, cheaper, and more secure oracles to be available on another blockchain platform for developers to use.
Band Protocol’s superior design allows dApps to synchronise real-world data feeds via a decentralised governance model, — making it a more ideal option over current oracle designs that are either centralised or asynchronous.
Moreover, Tomochain has a strong focus in enterprise adoption. With Band Protocol oracle design, enterprises are now able to leverage smart contracts, connected to real-world API, to automate their processes and improve efficiency. We are excited to enable more expansive use cases of oracle and smart contracts.
2. Band Protocol and Tomochain will benefit from each others’ technologies
Ultimately, by providing more tools and allowing complementary protocols to work alongside each other, the capability and utility of both our respective technologies will be enhanced.
3. Introducing Band Protocol to a new pool of users and developers across Vietnam and Southeast Asia
Band Protocol’s expansion into new market opportunities and blockchain communities will also be assisted by TomoChain’s strong and ever-expanding reach in Vietnam and nearby regions.
Both project teams will work closely together to educate developers and foster local blockchain adoption in emerging developer hubs throughout Southeast Asia.
TomoChain is built on a performance layer that achieves high transaction speeds without compromising decentralization. TomoChain uses an innovative consensus method called PoSV (Proof of Stake Voting) which gives an incentive to all TomoChain token-holders to play an active part in staking across a network of 150 high-quality masternodes, and to monitor their performance and governance actively. Its staking-governance dapp, TomoMaster, is recognized as one of the leading staking platforms in the industry.
About Band Protocol
Band Protocol is a data oracle platform building the data layer of the Web 3.0. It provides an accurate information feed from community-curated data providers that allows blockchains to access trusted data from outside of the network. This solution is particularly important for the execution of smart contracts, that are triggered by off-chain occurrences. It is open, decentralised and does not rely on third party services. Band Protocol makes dApp (decentralised applications) development simple and allows developers to tap into trusted data sources by integrating a basic line of code.