We’re excited to announce that Cronos is currently integrating Band Protocol’s oracle solution to provide reliable external data for the DeFi and all applications on Cronos. The upcoming integration will give Cronos developers access to a high-performance decentralised oracle network that provides usability, security and unmatched accessibility for developers to create custom decentralized oracles to any external data needs.
The integration is a 2-way integration in which Band Protocol will include Cronos price feed as one of their data sources, and Cronos will integrate with price feeds from Band Protocol as the trusted partner for developers to utilize a scalable oracle solution. Band Protocol oracles have been battle-tested by time and are currently securing over $8B in total value in smart contracts. The Band Standard Dataset is available for Cronos developers which covers an extensive range of over 230+ price feeds for crypto assets, commodities and foreign exchange.
Same as Crypto.org Chain, Band Protocol also built its blockchain on Cosmos SDK which will be able to relay data across different blockchains, including those built on Cosmos. This could enable a seamless transition for DeFi Dapps built on Cronos using price feeds from Band Protocol to function if they are to migrate to the Crypto.org Chain.
Kris Marszalek, Co-founder and CEO of Crypto.com said: “ The addition of Band Protocol into the Cronos ecosystem comes highly recommended to all developers to connect any external data source and customise their decentralized oracles, which is essential for DeFi Dapps that need high quality, decentralised, real time external financial data to run. ”
Soravis Srinawakoon, Co-founder and CEO of Band Protocol said: “We are excited to collaborate with Crypto.com to bring Band Protocol oracles onto Cronos - this marks a significant enhancement in the infrastructure and tooling available for developers to build highly secure and reliable applications using decentralized oracles.”
If you are a developer excited to build on Cronos with secure and decentralized oracles, we strongly encourage you to connect with Band Protocol through the following Typeform:
Cronos is built upon Ethermint, a Cosmos SDK development framework for launching scalable, high-throughput blockchains that are fully compatible and interoperable with Ethereum. Cronos launched its testnet on July 20, 2021, and is currently onboarding projects to the platform. Projects can instantly port to Cronos from any Ethereum and EVM-compatible chains, with support from the USD 100 million CRO EVM Fund and exposure to Crypto.com’s user base of over 10 million.
Cronos is the EVM chain running in parallel to the Crypto.org Chain. It aims to massively scale the DeFi ecosystem, by providing developers with the ability to rapidly port apps from Ethereum and EVM-compatible chains, with funding from Particle B’s $100m EVM fund and access to the 10M+ user base of the Crypto.com ecosystem.
About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables 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.