The Cosmos decentralized network, connecting independent blockchains to ensure interaction between them, has added support for Band Protocol oracles.
The developers of the decentralized oracles inter-network protocol Band Protocol announced integration with Starport, a development tool for the Cosmos blockchain. This allows third-party network developers to access numerous data streams.
Thanks to the integration, newly created chains in the Cosmos ecosystem will be able to exchange data through the IBC interaction protocol, which was activated on the network in March.
“Until now, IBC has been used mainly for the transfer of assets,” the Band Protocol developers note in a press release for the media.
The integration of the Band module into the Starport structure allows third-party Cosmos developers to access decentralized data, for example, price flows for crypto assets, random number generation and real-world data. Band Protocol will improve the communication and compatibility of blockchains in the Cosmos ecosystem.
“Together with Cosmos, we are creating a complex infrastructure for the dynamic interaction of blockchains, which goes far beyond the transfer of crypto assets,” said Soravis Srinawakoon, CEO and co – founder of Band Protocol.
Band Protocol, the second largest blockchain data provider after the market leader Chainlink, in July introduced a new version of the platform – BandChain 2-to increase the 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 you to process 50 transactions per second and avoid network congestion.