Band Protocol, a prominent decentralized data oracle platform, has unveiled an exciting new integration initiative with Axelar, a cutting-edge interoperability layer facilitating interchain applications within the Web3 space.
Band Protocol and Axelar Collaborate to Strengthen Data Validation and Cross-Chain Connectivity
This integration promises to enhance data availability across the multi-chain ecosystem, offering a myriad of advantages and opportunities in a decentralized manner.
By combining the unique capabilities of both platforms, this integration opens doors to seamless connections and cross-chain interoperability between the EVM and Cosmos ecosystems. The decentralized verification of data, facilitated by Band Protocol’s Oracle solutions, will now traverse multiple blockchain networks, benefiting dApps operating on diverse chains connected through the Axelar bridge. Beyond Band Protocol’s flagship price feed oracle, this integration empowers dApps to leverage additional features like VRF (Verifiable Random Function) offered by Band Protocol. This pioneering integration stands as a groundbreaking milestone within the industry.
Band Protocol specializes in providing reliable and verifiable data to smart contracts, granting decentralized applications (dApps) access to off-chain information. By integrating with Axelar, Band Protocol can extend its oracle solutions to multiple blockchain networks via Axelar’s programmable interoperability layer, unlocking a plethora of possibilities for dApps operating on different chains. In particular, dApps functioning on both EVM and Cosmos chains will reap significant benefits from this collaboration.
Axelar’s secure cross-chain communication capabilities play a pivotal role in this integration, enabling Band Protocol’s oracle services to be accessible by dApps running on the 40+ interconnected blockchains supported by Axelar’s extensive network coverage. This broader reach ensures that developers and users across different chains can seamlessly tap into Band Protocol’s comprehensive data feeds and services, bolstering a more robust and reliable data ecosystem.
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