After years of providing reliable price feeds for decentralized applications (dApps), we are proud to reveal the newest use-case for our oracle script with our latest partnership with Desmos. After months of collaboration and hardwork between the team members from Desmos and Band, we are finally able to utilize Band Protocol’s data sources and oracle scripts and allow Desmos users to connect their profiles from traditional centralized Web2 social media networks. This latest accomplishment is a major milestone that will help to shape the revolutionary movements that envisage a more democratic and decentralized social media that ultimately enhances the overall user experience.
Desmos Profile is an anonymous decentralized identity across various blockchains. This concept is similar to that of Google single sign-on, but now built on Web3. The first products that Desmos Network revealed during this year’s Cosmoverse epitomizes the growing demand for a shift in social media networks from Web2 to Web3. These products include Scripta, a decentralized publishing platform that operates similarly to Medium, and Butter, a simplified Web3 social media for non-crypto users. In the future, an array of new products will be developed and we are delighted to support the talented pool of developers from the Desmos community as well as play a part in movements that transition Web2 to Web3.
“Band plays a crucial role in the process that allows Desmos users to link their profile to centralized social networks. Thanks to its oracles, we are able to fetch the cryptographic proofs posted on Web2 social networks, and use those proofs to connect their Desmos profile to such accounts in a truly decentralized way. This verification system is particularly useful for users that want to avoid having other people impersonating their account. By connecting their Web2 social identity to their Desmos profile, they can guarantee their followers that such profile is truly theirs and not a fake one.”
– Lorenzo from Desmos Network
Earlier this year in March, Desmos launched the Desmos Grant Program which grants users and developers that wish to contribute to the Desmos community access to support for building tools, applications, and products on Desmos. With the goal of bringing as many teams as possible closer to developing on its network, stable versions of DesmJS and GraphQL endpoints were released. This fundamentally gives traditional Web2 developers a smoother transition into Web3 development and thus greatly widens the pool of talented developers that wish to contribute to the development of Desmos Network. By the end of June, the Desmos team completed all the Desmos core modules necessary for a social media network, as well as delivered full support to CosmWasm.
Looking ahead to 2023, the network will look to not only support the current pool of developers but also onboard new developers that can help grow the Desmos community. From the Band Protocol team, we are looking to provide any support for developers that wish to utilize Band’s oracle scripts to verify not only users between Web2 and Web3 but also between Web3 social media across various blockchains.
About Band Protocol
Band Protocol is a cross-chain data oracle platform with the aspiration to build high-quality suites of web3 development products. The flagship oracle solution aggregates and connects real-world data and APIs to smart contracts, enabling smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is 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.