This article was first published on Stories by TRON Foundation on Medium
TRON has completed an integration with Band Protocol’s decentralized oracle network. This makes Band the first external oracle solution chosen to be implemented into TRON’s ecosystem for developers. As part of a strategic long-term partnership, both teams have been working collaboratively to solve blockchain scalability issues. The goal of this strategic partnership is to bring highly secure and decentralized oracles to all TRON services. These oracles will provide solutions and real-world data to use cases spanning from decentralized finance (DeFi), enterprise applications, government solutions, games, and more while providing value for hundreds of thousands of users.
With the initial bridge implementation and official TRON developer documentation for Band Protocol complete, the DApp integration efforts kick off with JUST — the leading stablecoin protocol on TRON to secure over $30M in collateral.
Band Protocol is a decentralized cross-chain data oracle platform that enables smart contracts to customize, aggregate and connect to any external data source or API. They offer a scalable oracle request process, low-costs, real-time data, ability to connect to any high-quality data sources, end-to-end flexibility with the highest degree of decentralization. They are backed by Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
We have chosen Band Protocol to be the first external oracle integrated with TRON for their unique key offerings solving major issues in existing solutions:
Scalability & Efficiency
Band Protocol utilizes an independent high-performant blockchain, BandChain, built specifically for oracle computations such as data sourcing, aggregation, updates and settlement. This offloads all bandwidth from a specific blockchain, mitigating TRON DApps from congestion or scalability issues as seen with Ethereum-based oracles. TRON is already regarded as one of the most high throughput blockchain protocols and Band helps to build on that reputation.
End-to-End Flexibility & Customizability
TRON developers may create ...
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Stories by TRON Foundation on Medium