Nervos Network has entered into a strategic partnership with Band Protocol. The network of Band Protocol is now active on the testnet of Polyjuice, the Layer 2 protocol that operates on top of the Nervos CKB. The Band Protocol connects and aggregates APIs and real world data to smart contracts. Band Protocol empowers the applications of smart contracts such as prediction markets, DeFi, and games without relying on centralized Oracle services.
The partnership will also focus on the development of a scalable and secure DeFi ecosystem. Polyjuice network is compatible with the design and scalability of the Ethereum Virtual Machine. Polyjuice testnet infrastructure enables the quick deployment of Ethereum dApps to enable the fast growth of the ecosystem. Through the integration with Band Protocol, Polyjuice projects can access the data of Band Oracle from the Band Standard Dataset that houses more than 230 symbols and a variety of stocks, cryptocurrencies, foreign currencies, and other assets.
The price feed of Oracle infrastructure is crucial for decentralized applications. With the help of Band Protocol, the developers of Polyjuice will be able to customize the Oracle solutions by the creation of unique Oracle scripts. These scripts specify APIs or external sources for the design and use of customized parameters for update time, validator confirmation, and aggregation.The flexibility of Polyjuice and the time-tested Oracle service of Band Protocol will enable the former to serve as a flourishing ecosystem for the development of dApps.
The partnership’s core objective is to make the development of dApps more convenient. The open source blockchain-driven platform of Nervos Network powers the operation of Nervos CKB. The Nervos CKB is the proof-of-work layer 1 protocol of Nervos Network. The CKB allows every cryptocurrency asset to be stored securely by the permission-less and immutable nature of blockchain technology.