Elrond, a scalable and secure blockchain platform, has finished integrating the Band Standard Dataset on the public devnet to facilitate DeFi developers with internet-scale oracles.
Elrond collaborated with Band Protocol the previous year to boost DeFi tools & business process development with the help of Band Protocol’s oracles. This collaboration aimed at providing access to smart contracts built on Elrond’s blockchain to global data feeds on the unrestricted internet via Band Protocol’s oracle design, which is enabled with complete end-to-end customization capability.
A Band Protocol representative stated that they look forward to helping Elrond achieve its goal and become the backbone of a decentralized economy that depends on the interoperability of all critical systems.
Band Protocol and Elrond Network teams are in the ultimate stages of integrating the Band Standard Dataset on Elrond. The organizations are ready to take DeFi to the next level: The Elrond devkit, Arwen WASM VM’s execution environment, and Band Protocol’s will be major catalyzers.
Elrond is a relatively new, scalable, secure proof of stake, and fast blockchain platform whose aim is to take blockchain to the internet at scale. It provides developers with access to advanced tools, coding languages, and SOPs to develop and deploy their own blockchain-based apps. Elrond has also created the novel Adaptive State Sharding technology to overcome scalability issues.
Band Protocol is a cross-chain data oracle platform. It collects real-world data and APIs and connects them with smart contracts. Band Protocol enables the development of smart contracts on-chain without depending on a centralized oracle.