Band Protocol secures major oracle integration and Coinbase Pro listing

Published on by Cryptoslate | Published on

Band Protocol has been seeing tremendous growth throughout the past few months, which has been reflected in its soaring price.

The latest integration secured by the protocol is with blockchain platform Elrond, which will now be using Band oracles to provide data streams and scalability to the ecosystem.

Band Protocol partners with Elrond for decentralized oracle integration.

Per a recent Medium post from Band Protocol, the company announced the newly secured integration with Elrond.

In addition to helping increase the efficiency and scalability of applications within the Elrond ecosystem, Band Protocol's oracle network will also help accelerate wider adoption of decentralized finance - according to Elrond CEO Beniamin Mincu.

"We're impressed by the capabilities of the Band Protocol team as well as the increased security and scalability of their oracles - making it an obvious oracle solution for Elrond developers who are building with focus on scalability."

The integration allows developers to leverage Band's oracles to bridge off-chain data sources into smart contracts, while also eliminating high costs and delayed data streams provided by native blockchain-based oracles.

BAND has been one of the best performing DeFi-related tokens throughout 2020, posting massive gains and securing a market capitalization of over $110 million.

For Band Protocol to maintain its upwards trajectory, it is imperative that the oracle network continues incurring more integrations and that the entire DeFi space continues seeing massive growth.

On Aug. 6, Coinbase announced BAND would be added to Coinbase Pro, further propelling the token upward another 40 percent.

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