Pricey Band Group,
Through the month of July, we have now been in a position to showcase the start of our work with quite a few companions in stealth through the course of the yr. As well as, we started working in direction of bringing BandChain Section 1, which incorporates full oracle performance, one step nearer to public Mainnet with the launch of the primary testnet alongside greater than 50 validators who joined the community.
We’re thrilled to share with you all of the technical developments, integration progress, and new main partnerships that may deliver the safe exterior real-world knowledge from BandChain decentralized oracle community into the palms of quite a few decentralized purposes.
With our in depth integration engineering workforce, we have now continued to give attention to working carefully with many main layer-1 blockchain platforms in addition to the native decentralized purposes which can be constructed on prime to combine customized oracle scripts on BandChain. We’ve additionally launched a brand new model of CosmoScan with upgraded options and GuanYu Testnet #1.
As ordinary, all of the developments are open-source:
GuanYu Testnet #1
On July 15, we shared the information on the best way to be part of the Section 1 (GuanYu) Testnet #1 as a validator and study extra concerning the tasks going ahead. The validators collaborating within the Guan Yu Testnet #1 and #2 can have the first-mover benefit to arrange a Section 1 Mainnet node, being the primary to seize knowledge request payment upon Mainnet launch and alternative for delegation from the Band Basis.
The Band Protocol technical workforce has been working in hand with greater than 50+ validators who joined the community to observe and repair numerous points in preparation for Mainnet. Altogether, there have been greater than 400,000 blocks mined with over 20,000+ oracle requests which were fulfilled by the validators.
Upon launch, CosmoScan has been a preferred product for the Band group to work together with the BandChain decentralized oracle community. We have now made positive to take heed to the group for suggestions and have requests, dedicating extra sources to make CosmoScan the highest open-source block explorer.
This month, we’ve added full cellular assist for CosmoScan and likewise incoming transactions to the account web page so customers can see $BAND token sending into an handle.
Our workforce has additionally kickstarted analysis into the UX of CosmoScan for an entire revamp that may assist extra detailed evaluation of BandChain oracle actions as soon as Section 1 is stay. The complete checklist of options might be discovered on our bi-weekly Twitter updates right here:
We’re within the strategy of finalizing the safety audit report for the BandChain oracle module, the complete report of the chain audit will likely be printed within the coming weeks. This month we have now additionally upgraded to the newest Cosmos-SDK launch v0.39.1. For future reference, the pre-stargate secure model of Cosmos-SDK would be the model that the GuanYu testnet is launched with.
Incentive methods for oracle standing have additionally been revamped to have inactive oracle validators flagged virtually instantly to scale back the dangers of inadequate knowledge stories in oracle requests. This has been examined to be working effectively on the testnet and can proceed to be optimized previous to the GuanYu public Mainnet launch.
As a result of robust demand from builders and our companions, we’re additionally able to proceed in direction of the launch of a Proof-of-Authority Mainnet in early August to speed up the supply of Band Protocol oracles for companions to make the most of on a wise contract and frontend stage. This can permit builders and companions to combine their Mainnet with BandChain previous to the general public launch of Section 1.
Take a look at extra particulars right here:
Oracle Script Replace
The runtime of the BandChain oracle scripts and knowledge sources have been upgraded to assist a wider vary of utility libraries together with cctx, the business commonplace for getting cryptocurrency worth data from exchanges.
Our workforce have additionally been working to implement knowledge supply runtimes in a number of execution environments together with Docker, AWS lambda, and Google Cloud. This can add extra resilience to the BandChain community because it won’t rely solely on one runtime supplier.
Lastly, we have now extracted oracle script Wasm runtime into its personal impartial library with the aim of making a greater developer expertise in writing and testing oracle scripts. We’re working in direction of having instruments like Truffle out there for the general public to make use of quickly.
Through the course of July, we had the chance to showcase our work with main blockchain companions Waves & ICON in addition to the varied main decentralized purposes constructing on prime of their platforms. Throughout the 9 complete partnership developments, we’ve been listed on Satang, the main Thailand crypto asset trade, and Crypto.com App, the Crypto-Fiat VISA Card Supplier for over Three million customers.
Waves Platform Partnership
Band Protocol has strategically partnered with Waves Platform, an open blockchain protocol and improvement toolset for Net 3.zero purposes and decentralized options in DeFi, gaming, identification, DAOs, voting, and extra. Each groups have been working collectively to combine Band Protocol’s decentralized and customizable oracles having accomplished bridge implementation and work with numerous Net 3.zero purposes within the Waves ecosystem.
With Band Protocol added formally into the Waves technical documentation — builders, enterprises, and lots of different ecosystem gamers on Waves can permissionlessly make the most of Band Protocol to connect with any exterior knowledge supply or API utilizing BandChain’s customizable oracle script that’s constructed for flexibility, modularity, and scalability.
ICON Community Partnership
ICON Community, one of many largest decentralized blockchain networks, has strategically partnered and chosen Band Protocol to offer safe and verified knowledge oracles for its quickly rising decentralized software ecosystem. Each groups have been working collectively to combine Band Protocol’s decentralized oracles which were fine-tuned for the wants of quite a few main DApps within the ICON ecosystem. These embrace DeFi, prediction market, sports activities/esports betting, and RNG/VRF purposes.
With the bridge implementation accomplished on ICON Community, Band Protocol has been formally added into the ICON Developer Portal, offering the instruments for builders to create and make the most of customized knowledge oracle scripts to securely construct decentralized purposes in a scalable method. ICON builders ranging from immediately can have full entry to the BandChain decentralized oracle community and might start using numerous worth feeds or construct a customized oracle script of their very own specification.
Neutrino Stablecoin Partnership
The main decentralized finance software constructed on Waves expertise, Neutrino (USDN), has chosen Band Protocol to offer a sturdy and safe worth feed for collateral property resembling WAVES/USD. Neutrino is an algorithmic stablecoin that permits customers to make use of WAVES tokens as collateral to mint USDN, a stablecoin pegged to 1 USD. The stablecoin protocol will use a number of trusted, high-quality knowledge sources able to offering worth updates on-demand by way of Band Protocol.
Neutrino has chosen Band Protocol because the decentralized oracle to offer the spot market worth of collateral (WAVES) worth in real-time and on-demand with out paying an extreme quantity of charges for worth updates. This can be sure that Neutrino sensible contracts don’t question knowledge that might be doubtlessly delayed and vulnerable to cost fluctuations or manipulation — defending the $15 million complete worth locked up as collateral and staking.
Gravity Hub Partnership
Gravity, a blockchain-agnostic cross-chain knowledge oracles protocol, will likely be using Band Protocol’s oracles to create a symbiotic community to unite all present blockchains and decentralized purposes. Band Protocol will likely be facilitating a bridge for all collaborating blockchains on Gravity between all forms of knowledge, starting from on-chain occasions utilized in cross-chain operations resembling token switch to exterior knowledge sources or APIs that energy particular decentralized purposes.
Gravity’s nodes will be capable of acquire oracle knowledge from the BandChain decentralized oracle community and relay them to another blockchain or decentralized software linked to Gravity. For any particular piece of information out there on BandChain, will probably be attainable to show, from one other blockchain, that an oracle question outcome or particular transaction has taken place on BandChain.
Decentralized monetary platform for stablecoin and artificial property, Balanced, has chosen Band Protocol to offer safe and scalable worth feeds for collateral asset ICX/USD and quite a few artificial property resembling BTC, gold, oil and extra upon product enlargement. Balanced permits customers to deposit their ICX as collateral and borrow tokens pegged to the worth of real-world property.
As the primary DeFi platform on ICON, the Balanced workforce has evaluated a number of oracle choices for safe knowledge feeds for the pricing of Balanced pegged property and collateral. Band Protocol has been chosen to accommodate their in depth knowledge wants in real-world property from numerous sources with out being restricted with scalability and customizability.
Guess Protocol Integration & Partnership
BetProtocol, one of many main betting protocols offering expertise for over 12+ operators, has strategically partnered and built-in with Band Protocol to offer dependable oracles for sports activities and Esports knowledge. With over 50,000 registered customers, BetProtocol at the moment helps over 12+ operators together with Bistox Video games, Hodlbet and TKN.COM — the second hottest Ethereum betting software.
Band Protocol has been chosen to be the launch companion to energy BetProtocol’s upcoming and awaited launch of Esports betting, creating customized oracle scripts on BandChain which can be linked to trusted and chosen premium API suppliers in a dependable, decentralized and scalable method.
Satang Partnership & Itemizing
Satang, the main regulated and first digital asset trade in Thailand, will likely be itemizing the primary fiat-pair for BAND on ninth July 2020 at 7:00 PM GMT+7. BAND token holders will be capable of leverage Satang App, a digital pockets linked to the Satang Professional digital trade and monetary banks to facilitate the entry and administration of cryptoassets.
This integration assist extends to Satang Store, an e-commerce administration software the place distributors will be capable of obtain funds from prospects who pay with BAND in trade for utilities, public transportation, on-line purchasing, and extra.
Crypto.com, the main debit and credit score VISA card supplier for cryptoassets, will checklist Band Protocol (BAND) on the Crypto.com App on 31st July 2020 at 2:00 PM GMT+7. This can allow the Crypto.com userbase of three,000,000+ to buy BAND utilizing bank card or financial institution transfers — increasing the attention, accessibility and utility of the token to the worldwide crypto viewers.
All Crypto.com customers will be capable of buy the BAND token with fiat currencies and likewise spend BAND at over 60,000,000+ retailers worldwide who settle for VISA by way of the MCO VISA Card.
Woodstock Operates BandChain Validator Node
Specialised multi-asset funding fund centered on excessive progress distributed ledger expertise (DLT) and blockchain challenge, Woodstock, is becoming a member of as a validator node on BandChain’s decentralized oracle community. The fund helps a portfolio of main tasks together with Elrond Community, Marlin Protocol, Holo, Casper Labs, and likewise Band Protocol as a personal investor and strategic companion to increase international footprint.
Throughout July, the Band Protocol workforce has been working alongside our pockets companions to assist staking campaigns and kickstart the ‘Understanding Band Oracle’ collection for our technical viewers. The collection has obtained constructive suggestions and we encourage you to recommend new content material concept or matters for our workforce to cowl — we’d like to put an article collectively for you!
Cross-Chain Hackathon Winner Spotlights
In April, Band Protocol joined forces with Cosmos & Agoric groups to host a digital hackathon on Gitcoin with the objectives of revolutionizing blockchain interoperability by way of the brand new inter-blockchain communication (IBC) protocol.
The hackathon concluded efficiently as one of many largest blockchain hackathons of the yr with over 312 collaborating hackers and 42 tasks inbuilt simply three weeks’ time. Take a look at what the Band Protocol winners constructed under:
Understanding Band Oracle Technical Collection
Band Protocol is constructing a decentralized cross-chain knowledge oracle that permits our customers to create extremely safe, dependable and reliable decentralized purposes. As such, we wished to be sure that our customers and wider group had entry to an in depth overview on our decentralized oracle community structure.
We cowl the oracle course of from begin to end, starting with knowledge sources & oracle scripts to requesting knowledge on BandChain and the lite shopper verification course of.
Take a look at the three-part collection under:
Band Protocol Bi-Weekly Updates
For group visibility and transparency, we’ve began a bi-weekly $BAND tech launch the place we cowl the highlights and notable updates from a complete checklist of options within the Github changelog.
Atomic Pockets Staking Marketing campaign
To rejoice the Atomic Pockets integration with Band Protocol, each groups hosted a $500 staking contest for the BAND token holders! Take a look at the winners and members under:
Math Pockets Staking Marketing campaign
To rejoice the Math Pockets integration with Band Protocol, each groups hosted a $500 staking contest for the MATH and BAND token holders! Take a look at the winners and members under:
With the BandChain Section 1 Proof-of-Authority Mainnet arising, we will likely be dedicating sources and efforts to make sure a clean launch for our companions to transition from devnet to Mainnet. We’re excited to showcase the varied set of companions that may lastly be capable of make the most of BandChain oracle knowledge on the Mainnet!
As well as, we’ll proceed to work with our 50+ collaborating validators on the GuanYu testnet to stress-test, repair points and monitor the community to make sure every thing as safe as attainable for the general public launch of BandChain Section 1.
Keep tuned for an enormous month in August for Band Protocol!