newslogical.com
A cross-chain oracle platform, Band Protocol, has just signed an agreement with Wanchian blockchain technology. Through the deal, WanChain serves as a genesis validator to band Protocol, the Technical Marketing Manager at WanChain, Noah Maizels, has said.
Band Protocol, a company backed by Binance crypto exchange, also makes use of blockchain technology in offering oracle services to the world. The partnership will let Wanchain have access to beneficial off-chain data like sport events, price feeds, lottery outcomes among other oracle service offered by Band Protocol.
Wanchain ecosystem project FinNexus will also be feed with data like real-time price information. Hence, let FinNexus expand its use case with trustworthy and high-quality data.
Giving his remark on the partnership, the CEO of Band Protocol, Soravis Srinawakoon, said as Band Protocol awaits the imminent mainnet launch of its blockchain-based oracle computations platform, BandChain, the company is excited to have Wanchain as a genesis validator of its new project.
“We are excited to see Wanchain’s rapidly growing ecosystem and continue to provide support through decentralized oracles as the reliability and security of off-chain data becomes increasingly important.”
The partnership is designed in a win-win approach. Wanchain serve as a validator node and Wanchain ecosystem is also open to numerous essential off-chain data offered by Band Protocol.
The CEO of WanChain, Jack Lu, also relayed his take on the collaboration, revealing his excitement for the deal. Jack stressed that the alliance will henceforth let Wanchain Dapps connect real-time data to any data source or APIs, among some other new possibilities.
“We are confident in their ability to become a key player in the oracle space and will be supporting their mission as a genesis validator on the BandChain network”.
Aside from Binance, Band Protocol is backed by institutional investor Sequoia Capital.