NEAR Integrates Band Protocol to Empower Developers with Scalable and Extensive Data Oracle Coverage
Band Protocol is thrilled to announce our integration with NEAR, a leading decentralized application platform leveraging ‘sharding’ technology to increase throughput and scale the network. NEAR developers are now fully equipped to access comprehensive, extensible, and customizable price feeds as well as other real-world data sources through BandChain to seamlessly create a custom decentralized oracle.
Joining NEAR’s mission to enable community-driven innovation, Band Protocol will be providing critical oracle infrastructure to secure a decentralized application platform designed to manage high-value assets like money or identity. By combining the scalability and high performance of both the NEAR and Band Protocol architectures, our common goal is to create a flexible platform to support developers building on Open Finance and the Open Web.
NEAR core contributors have won multiple world championships in competitive programming and worked at major tech companies such as Google, Facebook, and Microsoft. The NEAR team raised a funding round of $21.6 million led by Andreessen Horowitz (a16z) in tandem with their Mainnet launch in May.
“Secure and decentralized oracle systems are critical for enabling Open Web. The integration of NEAR with Band Protocol will offer developers a scalable decentralized oracle solution which is extendable to create custom oracle scripts for any external data source or API.”
Illia Polosukhin, Co-Founder at NEAR Protocol
Secure and decentralized oracle systems are critical for enabling Open Web. The integration of NEAR with Band Protocol will offer developers a scalable decentralized oracle solution which is extendable to create custom oracle scripts for any external data source or API.
With the completion of our implementation on NEAR, Band Protocol will be added to the official NEAR developer resources. This provide easily accessible guides and tools for developers to integrate various price feeds or create custom data oracles. NEAR developers will have unrestricted access to Band Protocol oracles, enabling smart contract interoperability with any external data sources or APIs.
“To partner and work closely with NEAR, a highly competent and technically-focused team, places Band Protocol into the hands of developers who require comprehensive and extensible oracles. We look forward to integrating with various NEAR-based projects who are aligned on a mission to build a highly secure and reliable Open Web ecosystem.”
Soravis Srinawakoon, CEO & Co-Founder of Band Protocol
NEAR will continue to work with Band Protocol to identify developer needs and requirements to bridge the gap between complex real-world data and blockchain networks. This includes integration with various leading DeFi projects migrating to NEAR and many more innovative start-ups building cutting-edge solutions for the Open Web.
Native usability is NEAR’s primary concern. Features such as its contract-based account model and NEAR Drops make NEAR significantly more usable for developers and end users. Additionally, NEAR has focused on bringing performance for applications. The dynamic sharding approach called Nightshade works on top of a proof-of-stake BFT consensus mechanism called Doomslug. This allows network throughput to scale as demand grows. It targets 1-second blocks so developers can build performant applications.
About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. 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.