Gravity Hub Partners With Band Protocol To Design a New Oracle System

Gravity, a renowned platform designing gateways and cross-chain applications at enterprise-grade, has collaborated with Band Protocol network to curate an integrated ecosystem combining the existing blockchains and decentralized solutions. The partnership comes as a result of the team-up between Band Protocol and Waves protocol executed to realize the next version of DeFi and Web 3.0 products and services. The news was made official via a Twitter post by the Band Protocol team which read:

As part of the integration, Band Protocol will work as a connecting plane for all the blockchain participants of Gravity for multiple data requirements ranging from on-chain events in cross-chain functions like token transfer to external data sources or APIs that support decentralized operations. Gravity’s Twitter post read:

The node participants of Gravity shall avail access to accurate oracle data from the BandChain decentralized oracle platform and then will be allowed to transport it to any other blockchain connected to Gravity’s frame. The users from any other blockchain will be able to prove that for any data on BandChain, an oracle query result or specific transaction has been executed there upon.

Soravis Srinawakoon, CEO and co-founder of Band Protocol, stated,

Soravis Srinawakoon, CEO and co-founder of Band Protocol, stated

Waves and Band Protocol are putting joint efforts to strengthen the InterChain DApps and the DeFi sector by infusing the expertise of the BandChain’s decentralized oracle services. This will popularize DeFi by making it accessible on all chains with the highest security, transparency, and other blockchain features. One of the first Interchain DeFi DApps will be the stablecoin of Waves platform, Neutrino. The coin uses Band oracles to offer security standards for the $15 million blocked as collateral, assuring owners about the security of their funds.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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