Band Protocol has successfully integrated the price feed with Nervos Network’ Layer 2, Godwoken to the mainnet.
Band Protocol is committed to providing the most secure and decentralized price feed solution at a reasonable price to all partners. This partnership with Nervos’ Godwoken will help bring further integrations with various dApp developers. Who are working under the Nervos ecosystem, allowing them to gain access to a wider range of reliable data feeds. That enable these builders to successfully launch their dApps within the web3 industry.
Band Integrates Nervos’ Godwoken – What is Nervos’ Godwoken?
Nervos Layer 2’s Godwoken is now 100% EMV-compatible, meaning that it now allows developers to easily launch a variety of dApps ranging from DeFi to gaming and NFTs that are multi-chain. In addition, providing instant interoperability to other chains will also allow the projects to expand and grow their audiences even faster than before. Therefore saving their time from having to build different versions of the dApps for different blockchains.
Moreover, Godwoken is Nervos’ stepping stone to providing a permissionless and decentralized environment. Band Integrates Nervos’ Godwoken, where all dApps and project developers can easily migrate existing dApps from Ethereum onto Godwoken. These developers will also be able to provide faster transactions to their users on Godwoken. Therefore creating a fluid and seamless experience for all users to enjoy within the ecosystem. With all the benefits tailored for Web3 developers, Godwoken’s all-inclusive dApp ecosystem is quickly becoming a one-stop place for developers.
How does Band Protocol contribute to Godwoken?
Currently, BAND’s oracle is mainly being used to power the lending component of the Hadouken project which is a lending dApp on Godwoken. The Nervos layer 2’s ecosystem as a whole. Oracle is a crucial part of any lending dApps. Without a reliable and trustworthy price feed, lending dApps like Hadouken wouldn’t be able to function. The Hadouken team is currently working to allow crowdsourced liquidations on their dApp and Band Protocol’s integration will play a big role in this upcoming milestone.
About Band Protocol
Band Protocol is a cross-chain data oracle platform with the aspiration to build high-quality suites of web3 development products. The flagship oracle solution aggregates and connects real-world data and APIs to smart contracts. Enabling smart contract applications such as DeFi, prediction markets, and games to be building on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backing by a strong network of stakeholders including Sequoia Capital.
The Nervos Network is a collection of protocols and public blockchain aiming to solve the biggest challenges facing blockchains like Bitcoin and Ethereum today. The Nervos Common Knowledge Base (CKB) is the layer 1, proof of work, public permissionless blockchain protocol of the Nervos Network. It allows any crypto asset to be storing with the security, immutability, and permissionless nature of Bitcoin. While enabling smart contracts and scaling with layer 2 (Godwoken). Its unique crypto-economic model to better align the interests of users, developers, and miners as compared to first-generation blockchains.