BandChain Phase 2 Launch by Band Protocol
Band Protocol has successfully launched BandChain Phase 2 on the Mainnet, upgrading from GuanYu to Laozi which supports streamed revenue for data providers and IBC integrations.
The BandChain Phase 2 upgrade enhances all facets of the decentralized oracle network to consistently provide reliable external information to the rapidly growing demands of blockchain applications, decentralized finance, and cross-chain functionalities.
With institutional-grade data providers including existing partners such as Brave New Coin, CoinGecko, CryptoCompare, Finage, able to commercialize datasets through integration-ready oracle scripts on BandChain, Band Protocol is set to rapidly expand existing data coverage and data types available for decentralized applications to use.
Their immediate next steps will be to submit a formal governance proposal that will usher in full IBC compatibility with Cosmos-based blockchains and expand multiple facets of Band Protocol’s product offerings including:
- Decentralized result and proof submission to Standard Dataset
- VRF & On-chain Randomness
- Expanding oracle usage in the cross-chain and multi-chain spec
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.
📰 INFO
https://medium.com/bandprotocol/bandchain-phase-2-successful-mainnet-launch-e2837d187776
