CoinGecko is pleased to announce that we will be supporting Band Protocol with the next iteration of their decentralised oracle network. Our comprehensive cryptocurrency market data, made available via our API, will empower the Band Standard Dataset and BandChain Phase 2 – enabling DeFi developers to readily gain access to on-chain data for price, trading volume, and market capitalization for their decentralized applications.
The upcoming upgrade of Band Protocol’s decentralized oracle network will allow institutional-grade data providers, such as CoinGecko, to monetize and commercialize their solutions, earning a fee on a per-call basis or time-interval and collecting revenue directly on-chain through custom data oracle scripts. This development will be paramount to bridging the world of data off-chain onto the blockchain in a highly secure and decentralized manner.
“CoinGecko is excited to support Band Protocol and see their oracle solution consistently evolve and adapt to developer needs while upholding the key values of decentralization and security,”Bobby Ong, Co-Founder & COO of CoinGecko.
What is Band Protocol?
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. It enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on a single point of failure of a centralized oracle. Band Protocol is also 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.
What is Band Standard Dataset?
As Band Protocol continues to rapidly scale, they also recently launched the Band Standard Dataset – an exhaustive reference price dataset with frequent updates and comprehensive, customizable feeds. With expansive support for crypto assets, commodities, and foreign exchange rates, the Band Standard Dataset covers a growing set of 100+ price feeds for any decentralized finance protocol to readily integrate.
How can I access the data?
The data retrieval, aggregation, and storage process is transparent, publicly viewable, auditable, and verifiable through Cosmoscan, the official block explorer for BandChain
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