Brave New Coin and Band Protocol team up for crypto price oracles

Brave New Coin and Band Protocol team up for crypto price oracles
Written by:
Ali Raza
November 23, 2020
  • Band Protocol and Brave New Coin recently teamed up to bring crypto price oracles to smart contracts.
  • Both projects aim to bring developers a much-needed peace of mind when it comes to crypto prices.
  • Now, by combining their technologies, they can help further their common goal.

Brave New Coin and Band Protocol just decided to partner up in order to use the BandChain oracle network for bringing crypto spot prices to the smart contract application ecosystem. The two plan to support around 1500 crypto assets.

What will come out of the new partnership?

Blockchain technology has brought a lot of innovation to the world, such as immutable storage, verifiable computation, and more. However, for all these positives, it still lacks when it comes to accessing data that is stored outside of the blockchain network.

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This is why projects like Band Protocol emerged, which enable smart contract applications games, prediction markets, and otherwise to be created on-chain. Band Protocol thus became a cross-chain data oracle platform, which connects smart contracts with real-world APIs and data.

Brave New Coin contributes by providing fair prices for any cryptocurrency by bringing data in near-real-time from some of the largest crypto exchanges in the world.

With the new partnership, around 1500 cryptos will have their prices — calculated by the crypto data engine of Brave New Coin — available on BandChain’s oracle network. As a result, developers will be able to bring these prices to pretty much any blockchain platform out there.

Band Protocol is already being used by some major smart contract platforms, including Ethereum itself. Apart from ETH, Band Protocol is also serving Waves, Binance Smart Chain, ICON, Matic Network, Cosmos, and Polkadot, with more likely integrating its solution as well, in days to come.

A perfect match

Band Protocol itself is quite pleased with this development, as its founder, Soravis Srinawakoon, noted that “such an established and reputable enterprise such as Brave New Coin will be pivotal to Band Protocol’s success.

Brave New Coin’s CEO, Fran Strajnar, commented as well, noting that the partnership is a perfect market fit. Strajnar knows that Band Protocol has been focused on bringing peace of mind to developers for a long time, and Brave New Coin shares this goal and vision.

Both projects “are leading the way in bringing scalable, decentralized, and non-custodial products and solutions for trading, investment, and analysis for smart contract developers to seamlessly utilize.”