DeFi

Decentralized Oracle Band Protocol To Deploy On Sei

Layer-1 blockchain Sei announced that Band Protocol, a cross-chain decentralized oracle, will be deploying on Sei as the oracle provider.

The oracle solution from Band Protocol gathers and connects data and APIs to smart contracts, enabling the development of DeFi applications on-chain.

Band Protocol is a cross-chain data oracle aggregating and connecting real-world data and APIs to smart contracts.

The protocol is built on top of BandChain, a Cosmos-SDK-based blockchain designed to be compatible with most smart contract and blockchain development frameworks.

The network is designed to modularize and offload the heavy and resource-intensive tasks from the smart contract platforms onto itself. This not only prevents such tasks from congesting or causing high transaction fees on the destination network, but the same data points can be packaged, used, and verified efficiently across multiple blockchains.

Sei is the first sector-specific Layer-1 blockchain specialized for trading. Every aspect of the blockchain has been optimized to help exchanges run better and offer the best UX for their end users.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.