Nervos Chooses & Integrates Band Protocol To Bring Scalability & Extensive Data Support For Growing DApp Ecosystem
Nervos, China’s leading public blockchain ecosystem, has chosen to integrate Band Protocol to bring scalable decentralized oracle technology to developers and their extensive partner network which includes China’s Blockchain Services Network and Grin. Both teams have completed the initial bridge implementation for Band Protocol and are working towards the end-goal of enabling Nervos developers to connect with any open and premium data providers, covering exhaustively all potential data needs through BandChain’s customizable oracle script.
The major goal of this integration is to bring verified external data sources on-chain in a manner that is designed to match the Nervos design principles: security, decentralization, efficiency, and flexibility.
“Through our integration with Band Protocol, we’re not only giving our developers access to vital oracle data to build scalable decentralized applications on Nervos but also enabling them to contribute to the greater ecosystem, where scalability and interoperability will play a key role in blockchain growth.”
Terry Tai, CEO & Co-Founder of Nervos
By integrating Band Protocol, Nervos developers will no longer be limited by centralized oracles or data feeds that have lack data support and are susceptible to long update times or blockchain congestion. Band Protocol’s flexible oracle design enables developers to access a variety of real-world data related to events, sports, weather, random numbers and more.
“With access to Band Protocol’s secure, blockchain-agnostic, decentralized oracle framework, Nervos developers will be able to easily access price feeds, event information, and other data oracles — enabling them to continue to build scalable and innovative dApps on the Nervos blockchain.”
Soravis Srinawakoon, CEO & Co-Founder of Band Protocol
To ensure the success of Nervos’ integration with Band Protocol, both engineering teams have clearly defined a working integration plan with key milestones across two phases to be showcased to the public in the upcoming weeks.
Phase 1
During the first phase, which is expected to be completed by the end of August, Nervos will support the Band Protocol team with a CKB-VM (RISC-V instructions based) bridge contract. The initial bridge will rely on a trusted data relayer operated by Band Foundation. This will allow dApps on Nervos to tap into selected crypto price feeds from BandChain, Band Protocol’s high-performance blockchain for data oracles, to bootstrap the DeFi ecosystem native to Nervos. The interoperability achieved through the bridge contract will enable developers across both BandChain and Nervos Network to build decentralized applications (dApps) and take advantage of Band Protocol’s oracles for truly scalable decentralized applications.
Phase 2
The second phase, which is scheduled for September and October, will result in a full-bridge to the BandChain. This second phase of integration will enable Nervos developers to connect dApps with any open APIs via a customizable Data Oracle Script, which is programmable in Rust and any language compatible with the WebAssembly standard (check out technical specification in Band Protocol’s developer docs). The bridge will operate in a fully trustless and permissionless manner, covering exhaustively all potential dApp developer data needs on Nervos as they’re able to leverage any open and premium data sources such as crypto price aggregators, exchanges, foreign exchange rate providers, sports and esports data reporters, and more through Band Protocol’s oracle technology.
Moving Forward
The partnership and deep collaboration with Nervos is a major stepping stone for Band Protocol to be integrated into various cutting-edge applications and the wider Asian market. As the technical integration is already underway, Band Protocol is already working with the top decentralized applications building on Nervos to design their very own secure custom oracle scripts.
Stay tuned as both teams continue to announce development updates!
About Nervos Network
The Nervos Network is an open source public blockchain ecosystem and collection of protocols solving the biggest challenges facing blockchains like Bitcoin and Ethereum today. The Nervos CKB (Common Knowledge Base) is the layer 1, proof of work public blockchain protocol of the Nervos Network. It allows any crypto-asset to be stored with the security, immutability and permissionless nature of Bitcoin while enabling smart contracts, layer 2 scaling and captures the total network value through its “store of value” crypto-economic design and native token, the CKByte.
Website | Nervos Talk Forum | Telegram | Medium | Twitter | Discord | Github
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.
Website | Whitepaper | Telegram | Medium | Twitter | Reddit | Github
