Integration of Band Protocol oracles into Binance Smart Chain

The co-founder and CEO of Band Protocol Soravis Srinawakoon considers that with the integration of Band Protocol to Binance Smart Chain different era begins as it opens more opportunities for all parties. He is sure that it will put the Band Protocol with the Binance Smart Chain to the lead of DeFi industry. Is it really the way he says? What does it mean for Binance Smart Chain and its users?
The growth of the DeFi industry is incredible in 2020. It took just an insignificant niche a year ago. Now we can see a large industry with a capitalization surpassing 15 billion USD. There are pros and cons in each situation, so this rapid growth is accompanied by terrible instability. One of the problems is connected with unstable work of oracles powering the industry. Band Protocol decided to solve this problem and seemed to succeed in it as Binance Smart Chain decided to integrate the protocol to expand its functionalities and opportunities.
Band Protocol develops cross-chain oracles created on the basis of the Cosmos Network, which enable the connection of data from the real world with the world of blockchain. After the integration is completed, numerous developers will be able to create their innovative dApps in the Binance ecosystem. It becomes possible with the assistance of Band Protocol oracles.
Binance Chain had many problems beginning with limited functionality and a non-friendly environment for developers. It was evident that it needs to be improved to become demanded among customers.
With Band Protocol, the Binance Smart Chain acquires wider capacity and more potential. It becomes more flexible, scalable, and fully decentralized.

Be the first to comment

Leave a Reply

Your email address will not be published.