The ICON blockchain project will integrate Band Protocol oracles

The leading blockchain network in South Korea, SYMBOL, announced a partnership with Bandthat has gained a lot of momentum lately.

According to the announcement, This partnership provides ICON developers with full access to BandChain’s decentralized Oracle network to use different data and prices.

DeFi’s decentralized applications and ecosystems depend on the accuracy of prices and the performance of performance data or oracles. Band Protocol is an emerging, decentralized platform that aggregates real data and combines it with intelligent contracts.

The ICON blockchain project will integrate Band Protocol oracles
The ICON blockchain project will integrate Band Protocol oracles

ICON is a deeply rooted project in South Korea the blockchain developer for the government. The platform operates a network of established companies and government agencies, including banks, telecommunications companies and healthcare providers offers blockchain and development solutions for your requirements.

Through its technological arm, ICONLOOP, works on the digitization of national identity authentication and decentralized passports. ICON is now expanding into the growing dApp and DeFi markets and needs oracles for its latest projects.

Min Kim, Founder of the ICON network, said:

“The strategic partnership and integration of the band protocol into the ICON network will increase the security and scalability of all decentralized applications based on South Korea’s largest blockchain project.”

Band Protocol joined Chainlink, which had already been integrated into ICON systems earlier this year. The leading oracle provider was used to provide pricing data from traditional markets for DeFi products.

Competition threatens

Chainlink is currently the most dominant oracle provider, with important associations like Google Cloud, Binance, Matic Network and Ethereum Classic and the 0x project. Your token LINK was one of the best this yearThis is an increase of 325% from $ 1.80 on January 1 at the current price of $ 7.65.

However, awareness of the competition is growing Tape record in collaboration with Waves, DeFi and the Staking app Frontier, the decentralized gaming platform BetProtocol and the cross-chain Gravity Hub interoperability protocol.

The BAND token its price rose that yearMost of the revenue for the past month has been generated by the DeFi boom. BAND rose more than 2,170% from $ 0.22 earlier this year to a record high of just over $ 5 today.

Both tokens performed well at the time of this article’s publication: LINK gained 6.5% on that day, and BAND rose slightly less than 10% in the last 24 hours.

[Este artĂ­culo fue actualizado]

Similar Posts