Band Protocol Successfully Integrates with ICON to Provide Secure Decentralized Oracles for Leading DApps
Greetings from the ICON Team,
We are excited to announce the strategic partnership and successful integration of Band Protocol, a top provider of smart contract oracle services, into the ICON public blockchain. ICON has been collaborating with Band Protocol to support various leading decentralized applications with customizable decentralized oracles, ensuring resistance to manipulation and the highest security guarantee for end-users.
ICON’s extensive ecosystem combined with Band Protocol’s scalable oracles bridging the highest quality off-chain data sources will allow truly reliable and decentralized applications in DeFi, gaming, prediction, betting and lottery to be built.
Band Protocol is a decentralized cross-chain data oracle that connects smart contracts with scalable real-time external data, providing the tools for developers to specify and connect to any external data source or API with custom aggregation methods. They are backed by world-class investors such as Sequoia Capital and the top cryptocurrency exchange, Binance.
Any ICON developer interested in leveraging real-world data already has the ability to integrate Band Protocol into their application. Using Band Protocol, ICON developers are able to tap into various built-in price feeds or create a customized oracle script fine-tuned to their needs. Developers can specify any data source or API to connect to, the aggregation method as well as security and update parameters. The official documentation to use Band Protocol can be found in the ICON Developer Portal
“The strategic partnership and integration with Band Protocol to the ICON Network will bring increased security and scalability to all the decentralized applications built on South Korea’s largest blockchain project. Band Protocol’s oracle will simultaneously strengthen the existing network and allow expansion to new real-world uses.”
Min Kim, Founder of ICON Network
This successful integration enables exciting use cases for developers in the ICON Ecosystem. Band Protocol can be used to provide any type of data feeds in a permissionless environment such as sports data, financial data, flight data, weather data, verifiably fair randomization and more! This unbounds DApp developers from the lack of data support in existing oracle solutions as well as unlock more freedom, simplicity and quick iterations when building on ICON.
“Band Protocol is excited to be integrating with ICON, a pioneer and leader in the blockchain space to expand the use of data oracles in South Korea where the blockchain industry is very developed and welcomed by authorities as well as enterprises. With the end-to-end customizability of Band Protocol’s oracles, we look forward to extending our support to traditional enterprises and departments that have potential to leverage blockchain technology in Korea with the help of ICON.”
Soravis Srinawakoon, CEO & Co-Founder of Band Protocol
The Band team was swift with implementation and we look forward to a long and fruitful partnership in exploring how their decentralized oracles can be used for other ICON Network partners such as enterprise and government.
About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
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