The Cosmos decentralized network connecting independent blockchains to enable interoperability has added support for Band Protocol oracles.
The developers of the Band Protocol internet protocol of decentralized oracles announced integration with Starport, a development tool for the Cosmos blockchain. This allows third-party web developers to access multiple streams of data.
Thanks to the integration, newly created chains in the Cosmos ecosystem will be able to exchange data through the IBC interop protocol, which was activated on the network in March.
“Until now, IBC has been used primarily for asset transfers,” the Band Protocol developers noted in a press release to the media.
The integration of the Band module into the Starport framework allows third-party Cosmos developers to access decentralized data such as price streams for cryptoassets, random number generation, and real-world data. Band Protocol will improve connectivity and interoperability of blockchains in the Cosmos ecosystem.
“Together with Cosmos, we are creating a complex infrastructure for dynamic blockchain interoperability that goes far beyond the transfer of cryptoassets,” said Soravis Srinawakoon, CEO and co-founder of Band Protocol.
Band Protocol, the second largest blockchain data provider after market leader Chainlink, introduced a new version of the platform – BandChain 2 – in July to improve transparency and decentralization of the oracle network. Last year, the Band Protocol developers launched the Band Protocol 2.0 update based on the Cosmos Network. The protocol allows processing 50 transactions per second and avoiding network congestion.
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