Band Protocol Partners with Desmos Network
Desmos Profile is an anonymous decentralized identity across various blockchains. This concept is similar to that of Google single sign-on, but now built on Web3. The first products that Desmos Network revealed during this year’s Cosmoverse epitomizes the growing demand for a shift in social media networks from Web2 to Web3. These products include Scripta, a decentralized publishing platform that operates similarly to Medium, and Butter, a simplified Web3 social media for non-crypto users. In the future, an array of new products will be developed and we are delighted to support the talented pool of developers from the Desmos community as well as play a part in movements that transition Web2 to Web3.
Band plays a crucial role in the process that allows Desmos users to link their profile to centralized social networks. Thanks to its oracles, they are able to fetch the cryptographic proofs posted on Web2 social networks, and use those proofs to connect their Desmos profile to such accounts in a truly decentralized way. This verification system is particularly useful for users that want to avoid having other people impersonating their account. By connecting their Web2 social identity to their Desmos profile, they can guarantee their followers that such profile is truly theirs and not a fake one.
About Desmos Network
Desmos Network is a Cosmos SDK based layer 1 blockchain specifically designed to build decentralized social networks. Our goal is to build and promote a new generation of censorship-resistant decentralized social networks that make users responsible for their personal data.
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 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.