In an important strategic partnership, Waves platform has come together with Band Protocol in order to provide a toolset for the development of new-age decentralized solutions in a variety of business segments. Some of the prominent categories where this collaboration will be of particular significance include decentralized finance application, gaming applications, voting applications, and DAOs.
Finer details
According to the new agreement, all the relevant stakeholders on the Waves ecosystem can now connect to an external data source with the help of Band Protocol. The oracle script of Band Protocol will be utilized for making this connection and thanks to its versatility flexibility, and scalability, we expect this development to prove extremely crucial for the development of new-age Web 3.0 applications. In terms of price pairs, developers can access prices of BTC/USD, WAVES/USD, and ETH/USD. Just so you know, the prices of all these pairs are updated every five minutes on Band’s Protocol. This continuous price updation might not be relevant for the-profit-revolution.com (which is an automated cryptocurrency trading platform helping people make millions without any manual intervention), but for traders, analysts, and developers, the access to right price is critical for their profit and business sustainability.
Vision and Objective
The primary objective of the Waves ecosystem is to solve the issues related to the blockchain implementation, specifically ones which are related to the scalability and security issues. Now with support coming from the Band Protocol, Waves is confident of developing cutting-edge solutions and Web 3.0 applications. This will help the company to address the above-mentioned issues related to the implementation of blockchain.
Waves launched its mainnet in 2017 and in 2018; the company successfully completed the implementation of smart contracts. In the current scenario, Waves has made a name for itself in the market as one of the most reliable and versatile solution providers for the next-generation open LEDGER applications.
The project also highlights the importance of Band Protocol and its significance in providing Oracle-based solutions to the industry. The company takes pride in its capability of providing scalable solutions that are important for the blockchain industry to grow in its reach and effectiveness. More specifically, the Band Protocol provides real-time oracle solutions to the companies to help them offer reliable products to their target market.
Conclusion
The association has strategic implications for the blockchain industry. This culmination will help in the development of new-age applications and technological solutions in the open-ledger domain. The issues of scalability and security have been impeding the adoption potential of blockchain for a long time; however, with this new collaboration, we can definitely expect the things to change for better in the future.
